What do we know about strategic approaches to family businesses succession? A systematic review and future agenda

Research on family-owned businesses has recently gained increased attention. Given the absence of any comprehensive review of the strategic approaches to succession in family firms, a systematic review of research to date was performed. Six main approaches emerged from the 122 studies reviewed: (i) Strategic planning, (ii) Knowledge transfer, (iii) Innovation and internationalization, (iv) Family and business vision, (v) Business exit, and (vi) Governance strategy. This study provides an integrative framework of the strategic approaches adopted by family companies during their succession processes and gaps existing in this area, suggesting a future research agenda.