Why does a managerial vacuum in case of inter-family business succession occur? Latest insights of entrepreneurship theory and path dependency are used to address this research question. Employing a co-evolutionary view, the managerial vacuum will be conceptualized from both the macro and micro...

International business research points to the uncertainty in transnational commerce that is often aggravated by the dynamism and complexity inherent in global transactions. This paper addresses the evolution of private governance designs in the typical situation of absent public law of the...