Keywords: family-owned firms, financial performance, return on assets, return on equity, sales growth rates, succession planning, firm continuity, Lebanon, private companies
The impact of timely succession planning on a firm's continuity: case of Lebanon
This paper examines whether early succession planning in Lebanese family-owned firms has an immediate impact on their financial performance and hence their continuity. We have surveyed 50 privately held Lebanese family-owned firms and conducted a statistical analysis of their responses. Our findings show that early and proper succession planning impacts future financial performance rather than having immediate consequences.