Intergenerational Transfer of Family Firm Control: Discount Expectations of Potential Successors

Building on institutional theory and family sociology literature we explore the logics that underlie the formation of transaction price expectations related to the intergenerational transfer of corporate ownership in private family firms. By probing a sample of 3'487 students with family business background from 20 countries we show that next generation family members expect to receive a 56.58% discount in comparison to some nonfamily buyer (i.e. the family discount) when taking over the parent's firm. We also show that the logic underlying the formation of family discount expectations is characterized by parental altruism, filial reciprocity, filial decency and parental inducement. These norms embrace both the family and market logics and accommodate the duties and demands of children and parents in determining a fair transfer price. These findings are important for institutional theory as well as for family business and entrepreneurial exit literatures.

The economics of machinery choice in corn production /

Cover title.

The choice works of Dean Swift in prose and verse. Carefully reprinted from the original edition with a memoir.

Mode of access: Internet.

Masonick melodies : being a choice selection of the most approved masonick songs, duets, glees, catches, cannons, hymns, odes, dirges, and choruses, appropriate to all Masonick occasions: the whole set to musick ... /

Shoemaker

Health insurance : employer offerings and employee choice in state and local governments, 1992.

Mode of access: Internet.

A test of a stochastic theory of choice,

Mode of access: Internet.

To have or to be--take your choice,

"First printing."

Consumer behavior towards fuel efficient vehicles. Volume IV: operating instructions and programs documentation for the CS Vehicle Choice Simulation Model. Final report.

National Highway Traffic Safety Administration, Technology Assessment Division, Washington, D.C.

Choice recipes : contributed by the Women's Society of the Fairmount Presbyterian Church.

Includes household hints; sample menus; recipes for French, Swedish, German, Chinese, and Italian dishes; sample recipes: Frozen cheese salad, Chicken chow mein, Buster Brown cake.

Maids' and matrons' cook book : 600 choice and tested recipes /

Includes household hints, home remedies, and samples of menus. Sample recipes: Dry sugar cure for pork, Cheese macaroni, Flaky pie crust.

Choice recipes from the Women's Aid Society of the Union Baptist Church, Mystic, Connecticut, 1922.

Recipes are attributed.

Choice recipes /

Includes household hints. Sample recipes: Chicken or veal croquettes, White sponge cake, Sweet and sour mustard pickle.

265 choice recipes /

Includes index.

Choice receipts : arranged for the gas stove /

Includes index.

The C.H.P.A. cook book : choice recipes from the members and friends of Cleveland Health Protective Ass'n /

Includes household hints; samples of menus; table of seasons for foodstuffs; some recipes include wine or liquor as an ingredient; recipes for English, French, and Cuban dishes. Sample recipes: Roast goose, Codfish on toast (Cuban style), Gingerbread pudding.