Intergenerational Differences in Family Business Management and Their Influence on Business Profitability

The generational change in the family business opens up expectations of strategies such as sustainability, professionalisation and internationalisation. Yet, there are gaps current literature which fail to explain whether benefits according their management, status, effects on performance. This paper compared first with second later generation companies through relevant characteristics. A regression analysis was applied a sample that identified by Spanish Family Business Institute information growth strategy, corporate governance, professionalisation, ownership, is supported financial data for period 2016–2020. results showed that, although differences terms profitability were small between generations, significant management affected Growth tended be lower subsequent also h greater tendency internationalise, being motivated management. Previous works have analysed however this present work investigated origin these differences. disparities allowed obtaining different indices, therefore practical importance internationalisation, growth, sustainability face intergenerational succession.