International Journal of Social Science & Economic Research
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Title:
IMPACT OF FAMILY VALUES ON FAMILY BUSINESS POST-SUCCESSION PERFORMANCE IN NIGERIA

Authors:
PAUL, Vincent ; ABUBAKAR, Lamino Hauwa ; DAMINA, Emmanuel Kukah and ANDAH, Angbazo Ruth

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PAUL, Vincent1 ; ABUBAKAR, Lamino Hauwa2 ; DAMINA, Emmanuel Kukah3 and ANDAH, Angbazo Ruth4
1. Department of Entrepreneurship Studies, Nasarawa State University Keffi, Nigeria
2. Department of Business Administration, Faculty of Management Sciences Nile University of Nigeria, Jab-FCT
3. Analyst with the Financial System Strategy (FSS) 2020 Secretariat, Maitama Abuja, Nigeria
4. Department of Business Administration, Nasarawa State University, Keffi

MLA 8
Vincent, PAUL,, et al. "IMPACT OF FAMILY VALUES ON FAMILY BUSINESS POSTSUCCESSION PERFORMANCE IN NIGERIA." Int. j. of Social Science and Economic Research, vol. 5, no. 9, Sept. 2020, pp. 2590-2622, doi:10.46609/IJSSER.2020.v05i09.013. Accessed Sept. 2020.
APA 6
Vincent, P., Hauwa, A., Kukah, D., & Ruth, A. (2020, September). IMPACT OF FAMILY VALUES ON FAMILY BUSINESS POSTSUCCESSION PERFORMANCE IN NIGERIA. Int. j. of Social Science and Economic Research, 5(9), 2590-2622. doi:10.46609/IJSSER.2020.v05i09.013
Chicago
Vincent, PAUL,, ABUBAKAR, Lamino Hauwa, DAMINA, Emmanuel Kukah, and ANDAH, Angbazo Ruth. "IMPACT OF FAMILY VALUES ON FAMILY BUSINESS POSTSUCCESSION PERFORMANCE IN NIGERIA." Int. j. of Social Science and Economic Research 5, no. 9 (September 2020), 2590-2622. Accessed September, 2020. doi:10.46609/IJSSER.2020.v05i09.013.

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Abstract:
This study adopts the use of survey research design with a sample size of two hundred and sixty (260) to examine impact of family values on family business post-succession performance in Nigeria. The data were collected using a five-point Likert scale questionnaire and were analysed using multivariate regression. From the analysis, it was found that firm values has significant effect on post succession performance, firm values has significant effect on family firm’s growth of family business, enterprise core values has significant effect on family business operations, firm values has significant effect on business ownership, firm values has significant effect on business and firm values has significant effect on business management. Based on the findings, it is concluded that the values considered significant by a family business owner and family members are also important to the success of the business and its growth. Some may have economic values like maximum profit or expanding the business, while others find enjoying work as a fundamental value for success in the business. Therefore, the study recommends that family should uphold those values that will enhance enterprise activities for better expansion and improved development. Hence, family business should not destroy the image of the family or weaken the family established harmony in decent society in order to improve family business performance. Also, family enterprises should sustain the four enterprise core values (order, success, community, and synergy) which are considered as the enterprise core values of every existing business in the world including family enterprises.

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