1Doctoral Student, Dept. Hansung University, Seoul, Korea
2Professor, Dept. Hansung University, Seoul, Korea
This study aims to conduct empirical analysis on structural relationship of influence of factor recognition of stakeholder who can affect the succession process of family corporate which is increasing due to aging entrepreneurship generation and establish the efficient succession strategy.
In order to confirm the influence of recognition of stakeholder to succession result regarding succession of family business, the family businesses which had family succession within recent 5 years were selected as study subjects, conducted visiting and email interview for 5 months from November 2015 to March 2016, collected 230 copies and utilized SPSS 20.0 and AMOS 20.0 for 190 copies excluding insincere responses, and conducted exploratory factor analysis and structure equation model.
First, the study confirmed that the higher Procedural recognition is the higher the social recognition, internal recognition and succession performance is. Second, the study confirmed that the higher Institutional recognition is, the higher the Internal recognition and social recognition is. Third, the higher the social recognition is, the higher the succession performance is. Also, it was confirmed that the Institutional recognition did not have significant influence on succession performance and the internal recognition did not have significant influence on succession performance.
In order to improve succession performance, there is a need to establish succession plan in advance, share it with stakeholders and conduct systematic management with Procedural recognition enhance activity of stakeholders such as period of succession, preparation period and Procedural conflict solving.
Family Business, Family Business Succession, Stakeholder, Succession Performance, Succession Recognition
