1. Factors Associated with Long-Term Survival of Family Businesses: Duration Analysis.
- Author
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Stafford, Kathryn, Bhargava, Vibha, Danes, Sharon M., Haynes, George, and Brewton, Katherine E.
- Subjects
FAMILY business succession ,INCOME ,BUSINESS planning ,TEMPORARY employees - Abstract
This study identified factors influencing family business survival using National Family Business Panel and Spatial Hazard Events and Losses data. Sustainable Family Business Theory guided the use of a parametric duration model of long-term survival. Community characteristics, family achievements, family processes during change, business and owner characteristics, and business processes during stability affected long-term survival. Economic vulnerability of rural counties, family income from business, hiring temporary help, business size, viewing business as a way of life, and owner experience were associated with increased duration of business survival. Being home-based, a female owner, and customer-focused were associated with decreased duration of survival. Some family processes and achievements increased the duration of business survival; none decreased it. [ABSTRACT FROM AUTHOR]
- Published
- 2010
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