v11i2 – Junior Management Science

Succession in Family Businesses: A Qualitative and Resource-Based Analysis

Lilly Haase, Chemnitz University of Technology (Bachelor Thesis)
Junior Management Science 11(2), 2026, 267-294

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Managing succession poses a significant challenge for family businesses. The resource-based view (RBV) is considered a central theory in this context. Familiness refers to the unique set of resources and capabilities derived from the family. However, this concept has rarely been applied to the context of succession. This study develops a model that examines familiness defined by four dimensions of human capital, social capital, process-organizational capital, and financial and physical capital in relation to intra-family succession in family-owned businesses. The results show that familiness has a multifaceted influence on succession, with family relationships constituting a key component. It becomes clear that familiness positively shapes the succession process, particularly through the interplay of all dimensions. However, in addition to familiness, the impact of contextual factors should also be taken into account.

Keywords: familiness; resource-based view; family business; succession; familiness dimensions.

DOI: https://www.doi.org/10.5282/jums/v11i2pp267-294

Factors Influencing the Succession Intentions of Generation Z in Family Businesses: An Analysis of Person-Related, Family-Internal and Family-External Factors

Christian Matthias Hofmann, Vienna University of Economics and Business (Master Thesis)
Junior Management Science 11(2), 2026, 295-332

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The aim of this master’s thesis is to analyze the succession in family businesses, with a focus on Generation Z. Family businesses account for over 85% of all companies in the DACH region and are therefore a central component of the economy. At the same time, there is a significant decline in the intention of potential Generation Z successors to take over, which jeopardizes the long-term nature of this particular form of company. The aim of this thesis is to analyze family-internal, family-external and personal factors that influence the family business takeover in Generation Z by means of a theoretical justification and a conducted qualitative study. To this end, a systematic literature analysis was first carried out in order to reflect the current state of research. Subsequently, 11 guideline interviews were conducted with successors in various family businesses and analyzed according to Mayring’s summarising content analysis. The three-circle model according to Tagiuri and Davis (1996) and the integrative model of business succession according to Le Breton-Miller/Miller/Steier (2004) were used to gain a better understanding of the results and to facilitate interpretation. The results of the empirical study show that the intention to take over is characterized by an interplay of the three main factors. On a personal level, the desire for self-realization, the relevant training and intrinsic motivations are the main drivers, while a lack of identification with the company and a lack of confidence in one’s own leadership skills have an inhibiting effect. Within the family, other family members play a particularly important role. Supportive behavior and, above all, parental encouragement have a positive effect on the intention to take over, whereas controlling behavior or an unclear distribution of roles have an inhibiting effect. Outside the family, the sector and the labor market in which the family business operates have a major influence. If the future outlook is good, the takeover intention increases. The economic stability of the family business and social expectations also play a role in the development of a takeover intention. By focusing on the perspective of the subsequent Generation Z, the study closes a research gap that has received little attention to date. It thus makes a scientific contribution to succession research as well as practical findings for business families succession planning and consulting contexts.

Keywords: family business; succession; Generation z; personal influencing factors; family-internal influencing factors; family-external influencing factors.

DOI: https://www.doi.org/10.5282/jums/v11i2pp295-332

Alternative Succession Models in Family Farms: Potentials and Limitations of the Betriebsgemeinschaft

Moritz Ferdinand Koch, Vienna University of Economics and Business (Master Thesis)
Junior Management Science 11(2), 2026, 333-362

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The structural succession problem in agricultural family farms highlights the lack of willingness of the succeeding generation to independently continue managing the parental farm. At the same time, however, there is often a strong emotional attachment to the farm, resulting in the desire to preserve the family farm. Traditional succession models do not provide adequate solutions to this succession dilemma, making alternative forms necessary that allow for a separation of ownership and farm management in the course of farm succession. Against this background, the thesis examines in what ways and under which conditions the German cooperative farming concept of the Betriebsgemeinschaft can contribute to the preservation of agricultural family farms. For this purpose, a qualitative research design with semi-structured interviews was chosen, which were analyzed using Mayring’s qualitative content analysis. The results show that Betriebsgemeinschaften can represent a viable model for preserving agricultural family farms by ensuring operational continuity and maintaining ownership within the family, while farm management and farm operations are organized externally. The active involvement, continuous commitment, visible presence, and responsible assumption of the family’s role as co-entrepreneur were identified as key prerequisites. At the same time, the findings indicate that the model places high organizational as well as personal demands on those involved and is susceptible to tensions and conflicts that may endanger long-term stability.

Keywords: family farms; farm succession; alternative succession models; betriebsgemeinschaften.

DOI: https://www.doi.org/10.5282/jums/v11i2pp333-362

Between Duty and Drive: Exploring the Role of Tradition in Successor Motivation Within Family Businesses

Yannick Mark Lehmann, EBS Business School (Masterarbeit)
Junior Management Science 11(2), 2026, 363-380

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This paper investigates the role of tradition in shaping successor motivation within family businesses, with a particular focus on the tension between perceived duty and intrinsic personal drive. Succession in family businesses is a critical process that significantly influences the long-term continuity and success of these firms. While previous research has extensively examined structural and strategic aspects of succession, the motivational perspective of successors remains comparatively underexplored. Using a qualitative research approach, semi-structured interviews were conducted with current- and next-generation members from family-owned businesses to gain in-depth insights into their experiences and perceptions. Through my findings, I identified that tradition can act both as a motivating force and as a source of pressure. While some participants perceived tradition as a meaningful foundation that fostered commitment and purpose, others experienced it as an obligation that constrained their autonomy. Through this research, I contribute to a deeper understanding of the emotional and motivational dynamics within succession processes and derive practical implications for family businesses navigating generational transitions.

Keywords: family business; succession; successor motivation; tradition; transgenerational entrepreneurship.

DOI: https://www.doi.org/10.5282/jums/v11i2pp363-380

The Role of Sustainability in Family Firm Branding: An Identity-Based Analysis

Zaw Lynn, Technical University of Munich (Masterarbeit)
Junior Management Science 11(2), 2026, 381-406

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This paper investigates the role of tradition in shaping successor motivation within family businesses, with a particular focus on the tension between perceived duty and intrinsic personal drive. Succession in family businesses is a critical process that significantly influences the long-term continuity and success of these firms. While previous research has extensively examined structural and strategic aspects of succession, the motivational perspective of successors remains comparatively underexplored. Using a qualitative research approach, semi-structured interviews were conducted with current- and next-generation members from family-owned businesses to gain in-depth insights into their experiences and perceptions. Through my findings, I identified that tradition can act both as a motivating force and as a source of pressure. While some participants perceived tradition as a meaningful foundation that fostered commitment and purpose, others experienced it as an obligation that constrained their autonomy. Through this research, I contribute to a deeper understanding of the emotional and motivational dynamics within succession processes and derive practical implications for family businesses navigating generational transitions.

Keywords: family business; succession; successor motivation; tradition; transgenerational entrepreneurship.

DOI: https://www.doi.org/10.5282/jums/v11i2pp381-406

How Do German Family Businesses Change on the Stock Market? A Qualitative Study

Lisa-Maria Riegel, Witten/Herdecke University (Master Thesis)
Junior Management Science 11(2), 2026, 407-445

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German family businesses are increasingly represented on the stock market. In this context, family-business logics such as long-term orientation, family influence and a close connection to the company encounter capital market requirements, including transparency, professionalization and the consideration of external stakeholders. This study examines how German family businesses change as a result of a stock market listing and which of their central characteristics remain despite capital market influence. Methodologically, the study is based on eight semi-structured interviews with executives from listed family businesses, which were analyzed qualitatively. The findings show that a stock market listing changes structures and processes in particular: companies develop capital market-oriented communication and organizational structures, increase transparency, professionalize internal processes and align themselves more strongly with external expectations. At the same time, central characteristics of family businesses remain, especially a long-term strategic orientation, the formative influence of the owning family and a strong entrepreneurial identity. Changes also occur within the owning family, for example through more regulated information flows, clearer decision-making structures and a more conscious approach to operational responsibility. The study contributes to a better understanding of listed family businesses and provides practical recommendations for family businesses considering an initial public offering.

Keywords: family businesses; stock market listing; capital market; organizational change; owning family.

DOI: https://www.doi.org/10.5282/jums/v11i2pp407-445

Innovation through tradition: To what extent can drawing on tradition as a resource promote innovation at German wineries?

Lena Charlotte Jakobi, Witten/Herdecke University (Bachelor Thesis)
Junior Management Science 11(2), 2026, 446-469

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Wie kann ein Unternehmen gleichzeitig traditionsbewusst und innovationsfähig sein und dies zu seinem Vorteil nutzen? Diese Frage stellt sich in der deutschen Weinbranche, die sich durch jahrhundertealte Anbautraditionen sowie eine starke kulturelle Verankerung auszeichnet und sich zugleich mit neuen Herausforderungen wie Klimawandel, globaler Konkurrenz und sich wandelnden Konsumentenerwartungen konfrontiert sieht. Die vorliegende Arbeit untersucht anhand qualitativer Experteninterviews mit neun deutschen Weingütern, inwiefern Tradition als strategische Ressource Innovation fördern kann. Mithilfe des VRIO-Rahmenwerks und einer Weiterentwicklung des Innovation-through-Tradition-Modells zeigt sich, dass Tradition wertvolle, seltene und schwer imitierbare Eigenschaften aufweist, Authentizität sowie Differenzierung schafft und damit als Katalysator nachhaltiger Innovation wirkt.

Keywords: Germany; innovation; resource-based view (RBV); tradition; wine industry.

DOI: https://www.doi.org/10.5282/jums/v11i2pp446-469