What factors influence exit from the founder’s business and subsequent entrepreneurial renewal in a generational family firm? Guided by this research question, we trace the development of the Italian Falck Group from its inception as a steel company in 1906 – ascension as the largest...

Sharma et al. (2001) developed a model of satisfaction with the succession process in family firms by applying the stakeholder theory. This model suggests that satisfaction from the succession process is enhanced by factors such as the incumbent's willingness to step aside, the successor's...