Unexpected Successor in Family Firms: Opportunity or Trap for Women?

Abstract

Female managers are more common in family firms largely due to women’s incorporation into management positions via succession. Nonetheless, extrinsic and intrinsic factors constrain to some extent the access and the outcomes of female managers as potential successors. This study aims to uncover the particular conditions under which women frequently have access to CEO positions in family firms. Using a database of 177 SME Spanish family firms and using cluster analysis based on TwoStep technique, women are found to be unexpected successors to a greater extent than male successors. Oftentimes, they are chosen as a last resort to cope with poor business performance and low family orientation. More than an opportunity, this unplanned access becomes a trap since it fails to comply with all the requirements of successful transmissions.