Abstract

LISBOA, Inês. Family business succession and its impact on indebtedness. Evidence from SMES of Leiria region. RGPLP [online]. 2018, vol.17, n.2, pp.24-42. ISSN 1645-4464.

Family firms are present all over the world contributing positively to the economy, wealth creation and employment. Despites its presence, the continuity of these firms depends on its succession. This paper presents a theoretical framework on the succession of family firms, the main concerns, and major errors. Then it is analyzed how is the succession of family firms in Leiria region, Portugal. Finally, it is analyzed the impact of the firm's generation and the existence of non-family managers in the firm's debt. Results show that most firms are in the founder's generation, and its managers are usually family members. Moreover, 45% of sample already worried about the succession and devised a plan, but mostly have done it without the support of experts. Finally, the firm's generation and the type of manager does not have impact on the firm's indebtedness.

Keywords : Succession; Family Firms; Leiria; Portugal.

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