Agriculture Commons^™

Stages Of Succession Planning And Factors Of Transferring Management And Ownership For The Family Agribusiness, Ryan D. Musselman

Open Access Theses

Although many family business owners want to maintain family control of the business for future generations, few businesses survive across generations. Neglecting to plan an entry and exit strategy for family members are just two factors that explains why more businesses don't succeed in transferring the business to the next generation in the family. Ordered Probit models and Probit models were used to discover factors that influence the process of family business transfer of management and ownership. Data came from a survey of 736 businesses in four Midwest states. ^ Four factors were found to be correlated with the transition …