Dec 1, 2010 12:00 PM

By David Thayne Leibell, partner in the New York City and Stamford, Conn. offices of Wiggin and Dana

Most family business succession studies focus narrowly on the succession event itself or on some of the changes in leadership and performance that occur soon before or after the succession event. Much less common, however, is a study that provides a systematic analysis of the long-term changes that occur in governance philosophies between pre- and post-succession periods. A recent study, “Pre- and Post-Succession Governance Philosophies in Entrepreneurial Family Firms,” by Lloyd P. Steier and Danny Miller, in the September 2010 issue of the Journal of Family Business Strategy, seeks to fill that scholarly gap by looking at family business succession as a long-term evolutionary process.

The study's primary purpose is to track changes in family business governance before, during and after succession — not just episodically, but via longer term transitions in management, ownership, control and related governance philosophies. The study focuses only on families that decided to keep management, ownership and control of the business within the family.

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Topics of Interest

Estate Tax	Donor Advised Funds
GSTs	Family Offices
Private Foundations	Life Insurance
2010 Tax Act News	Industry Trends Surveys

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2011 Trust Glossary

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50 Years Ago This Month

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50 years ago, in May 1962, we featured articles such as: "Future of Canadian Trusteeship" by Arthur H. Mingay", "Training Trust Employees" by Ian M. Marr, "What is a Trust Officer?" by Eric J. Brown, and "Selling Services" by Donald I. Webb.

Conrad Teitell's Guide to Tax Benefits For Charitable Gifts

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