Research shows that family firms are less entrepreneurial, on average, especially after the founder departs. There are notable exceptions, however, and so we build a new theory to explain how these exceptional firms accomplish transgenerational entrepreneurship. Specifically, we conducted...

We employ agency theory to argue that the effects of family (and founder) ownership versus management will be quite different: the former is expected to contribute positively to performance, the latter is argued to erode performance. Previous studies, due to problems of multicollinearity have...

The scarce research on the sale of family businesses suggests that business-owning families take different factors into account than non-family owners when evaluating a business sale. This paper builds on a utility-oriented framework and analyses literature to identify the key factors that...

In this paper, we examine how a public sector organization developed a new strategic approach based on the identification and use of an internal dynamic capability (learning through experimenting). In response to the need for continual performance improvement in spite of reduced financial...