• Korean small business review
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• v.39 no.1
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• pp.1-39
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• 2017

The first generation of the business that had been founded in 1960~1970s faces the situation to consider the succession of the family business developed by devotion of their whole lives in the critical timing to the next generation. In the process of selecting the party of family business succession, it is required to consider a variety of succession types including smooth transfer to the other family member or the employee of the company, selling the company, or hiring external specialist. Foreign countries acknowledge the importance of the succession in the family owned company to perform multiple studies on the influential factors to the succession, distinction, and types of family business succession; and they utilize the results for the related policy development and the support of family owned business succession. However, few studies have been conducted on the succession of the domestic family owned business and majority of them are related to the types of succession. Considering its share and influential power in the domestic economy, it is necessary to develop the guideline and the policies to solve many issues on the succession of the family owned business by systemic studies. Hence, the impact of the main characteristics in the family owned business on the types of its succession was analyzed in this study focusing on five domains of Socioemtional Wealth (SEW) in view of Behavioral Agency Theory by Gomez-Mejia et al. (2007) using the data from 540 family owned small-to-medium sized businesses so as to analyze the issues on their business succession. Upon the empirical analysis results, it was confirmed that they were influenced to the selection of succession type by family succession > internal employee succession > external succession, for the variables of social contribution which were non-financial characteristics, internal employee succession > family succession > external succession for the intellectual properties, and family succession > external succession for the management participation of the family. The distinction of social contribution were influenced the most to the selection of the succession types. Financial factors, business performance, and R&D investment variables were not significantly influenced to their selection of the succession types. In case of simultaneous management, the family succession rate was high and it showed the control effect to strengthen selecting family owned business with R&D investment, social contribution, and company history variables. The behavioral agency theory used in this study was confirmed with high explanation power on the family owned business succession. The family owned business showed the tendency to maintain SEW, and non-financial factors such as accumulated know-how and social contribution based on the long term history were significantly affected to the succession in the small-to-medium sized family owned businesses, unlike general large sized listed companies. The results of this study are expected to be helpful practically for the succession of the family owned business and to suggest the guideline for the development of governmental policy.

• Journal of the Korea Society of Computer and Information
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• v.12 no.1 s.45
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• pp.231-242
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• 2007

This study was conducted to identify the relation of bottleneck and satisfaction factors in Korean succession companies. The final goal of this paper is finding some strategies and supporting system for Korean succession companies. According to the results of the study, we found four latent variables of the cause variables and two latent variables of the result variables. Three latent variables of the cause variables have an direct effect on two latent variables of the result variables.

• The Journal of the Korea Contents Association
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• v.18 no.9
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• pp.375-389
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• 2018

A successful succession of family businesses is a very important issue that greatly affects the sustainability of the business. Among the factors affecting successful succession, the successors of the family business were identified on the entrepreneurship held by small business owners and on the management performance of the business. This study was analyzed empirically by the managers who currently run the actual business through completion of or process of succession. Successive factors were established as a place for education and succession of heirs, and entrepreneurship was divided into innovativeness, risk-taking and pro-activeness, and management performance was divided into financial and non-financial achievements. The analysis shows that the education and training of successors among succession factors have significant implications for both managerial performance and entrepreneurship, and that the success of successors has no significant impact on non-financial performance, innovativeness and pro-activeness. In addition, while the risk-taking nature of entrepreneurship was concerned with the performance of management, innovativeness and pro-activeness were not all significant. According to this study, the education and training of successors and the determination of successors in succession family businesses have a significant impact on management performance and entrepreneurship.

• 프린팅코리아
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• s.63
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• pp.115-117
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• 2007

중소기업 가업 승계를 원활히 하기 위해 일정 요건을 갖춘 경우 상속.증여세를 감면하는 제도가 시급히 도입돼야 한다는 주장이 제기되고 있다. 이오 관련 정부에서도 중소기업의 가업승계를 원활히 할 수 있도록 세제를 개편할 움직임을 보이고 있다. 정부는 최근 이르면 내년부터 가업을 상속할 때 내는 상속세 공제한도를 '5억원 또는 상속 재산 대비 10% 이내' 로 확대하는 방안을 추진한다고 밝혔다. 김태년 의원 주최로 최근 국회에서 열린 중소기업 가업승계 지원을 위한 토론회에서 중소기업연구원 신상철 연구위원은 "상속세는 중소기업 활동에 지장을 초래하는 것을 최소화하는 방향으로 개선돼야 한다"고 말하고 "이 세제가 가업승계 저해요인이 돼선 곤란하다" 고 덧붙였다. 다음은 이날 토론회에서 신상철 박사가 발표한 내용을 요약한 것이다.

• 월간 기계설비
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• s.254
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• pp.54-62
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• 2011

기계설비건설업계의 성장을 이끌어온 창업세대가 세대교체 중에 있는 회원사가 늘어남에 따라 가업승계가 중요 관심사로 대두되고 있다. 정부는 중소기업의 가업승계 과정에서 발생하는 세부담을 완화하고 창업지원을 통한 투자 활성화 및 일자리 창출에 기여하기 위해 가업승계에 대한 세제지원을 지속적으로 확대해 왔다. 연간 매출액 1.500억원까지는 가업상속공제를 받을 수 있으며, 최대주주 등의 주식 또는 창업자금을 자녀에게 증여시 10% 세율로 과세하는 증여세 과세특례 제도를 2013년까지 연장했다. 본지는 정부의 중소기업 가업승계 지원 제도를 연재한다.

• The Journal of the Korea Contents Association
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• v.21 no.2
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• pp.489-498
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• 2021

The previous researches on the succession plan have the limitation that it has focused on policies or systems at the government level to facilitate succession, or is limited to family companies. In this study, we would like to analyze the effect of the actual utilization of the succession system for small and medium-sized enterprises rather than the succession by direct families or the government's policies. We would also like to identify other situational factors that may affect this relationship to better understand the succession plan and its relationship with organizational performance. To this end, the analysis of 172 small and medium-sized enterprises in the Human Capital Enterprise Panel showed that the more practical the succession plan of small and medium-sized enterprises is used, the more positive the organizational performance is. These results suggest that small and medium-sized enterprisess succession plan can have a positive impact on organizational performance, such as implicit transfer and formation of positive impressions of companies. Furthermore, cooperative industrial relations strengthened the degree of utilization of succession plans and the positive relationship with organizational performance. Such results showed that the more cooperative the labor-management relations are, the more the successor can secure legitimacy in the process of succession planning based on trust between labor and management.

• Monthly Korean Chicken
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• v.15 no.12
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• pp.98-100
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• 2009

가업승계와 상속세는 아는 만큼 혜택을 더 누릴 수 있다. 정부에서는 국내 기업의 대다수를 차지하는 중소기업을 안정적으로 성장시키고, 고용 유지, 경쟁력 강화 등에 도움을 주기 위해 중소기업의 가업승계에 세제지원혜택을 주고 있다. 이에 이번호에서는 본 제도에 대해 자세히 설명하고자 한다.

• Journal of Venture Innovation
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• v.6 no.3
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• pp.241-263
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• 2023

Recently, the aging of SME managers has emerged as a major issue in business succession. The smooth succession of small and medium-sized enterprises (SMEs), which are the industrial base of Korea, is becoming an important issue for enhancing the vitality of the national economy, such as job creation, beyond mere discussion of inheritance. At this point, this study conducted an empirical analysis on the factors affecting corporate succession intention. As independent variables, corporate Capability consisting of employee competency, marketing competency, and digital competency, human factors such as managers, successors, and third-party stakeholders, and institutional factors such as legislation, taxation, and trust were set. In addition, the effect of adjusting the sales scale was verified. To this end, a survey was conducted targeting representatives who are currently running small and medium-sized enterprises (SMEs). The total number of valid questionnaires was 315. Based on this, an empirical analysis was conducted using the hierarchical regression method. The results of the empirical analysis are as follows. First, marketing competency and digital competency, managerial competency and successor competency, taxation and trust had a significant positive (+) effect on corporate succession intention. However, a significant influence relationship between the third stakeholder, employee competency, and corporate succession intention was not tested. Among the factors that have a significant impact, the size of the influence was in the order of taxation, successor competency, executive competency, trust, marketing competency, and digital competency. Second, the size of sales was found to moderate the relationship between the variables that had a significant effect on corporate succession intention, that is, management competency, successor competency, marketing competency, digital competency, taxation and trust, and corporate succession intention. Based on these research results, academic, practical, and institutional implications for smooth business succession are presented.

• Journal of Venture Innovation
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• v.6 no.1
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• pp.139-159
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• 2023

As the founders of small and medium-sized businesses age, the issue of business succession becomes increasingly important. In this study, we empirically analyzed the impact of various human and institutional factors on corporate succession intentions, including the CEO's competency, the successor's competency, third-party stakeholders, and institutional factors such as legislation, taxation, and trust. We surveyed CEOs who were currently running small and medium-sized enterprises (SMEs), and received a total of 201 valid questionnaires. We then conducted an empirical analysis using the multiple regression analysis method. Our results showed that both the CEO's competency and the successor's competency, which are human factors, had a significant positive impact on corporate succession intention. Institutional factors such as taxation and trust also had a significant positive impact on corporate succession intention. However, third-party stakeholders and legislation did not have a significant effect on corporate succession intention. Among the factors that had a significant impact, the size of the influence was in the order of successor's competency, CEO's competency, taxation, and trust. These research results have both academic and practical implications. By going beyond existing studies that focus solely on human factors, we have revealed that institutional factors such as taxation and trust have a very important impact on corporate succession.

• Korean small business review
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• v.43 no.1
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• pp.147-164
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• 2021

This study focuses on succession in a family business which is the crucial factor affecting future and survival of a family business. Especially, the study concentrate a successor's view which is regarded as a key-player during the succession. In this study, we used AHP (Analytic Hierarchy Process) methodology to identify priorities of factors influencing succession. We divided into two-tier level. The first-tier is defined as 1) the relationship with an incumbent CEO, 2) a successor 's management ability, 3) a successor' s self-efficacy and 4) succession plan. For the second-tier of each first-tier have 3 sub-factors ; 1) the relationship with an incumbent CEO is set as level of mutual trust, sharing the vision of a company, and level of communication each other. 2) A successor 's management ability is based on business competence, education and training and interpersonal management ability, 3) a successor 's self-efficacy was set as successor' s willingness of succession, confidence of overcoming crisis and confidence of achieving objectives. Lastly, 4) a succession plan is set as finance plan, leadership transformation plan and human-organization management plan. A total of 93 questionnaires is distributed and retrieved, and 88 questionnaires are used for the study, excluding those with missing data. As a result of this study, successors selected 1) the relationship with an incumbent C.E.O. as the most important priority in the first-tier. The second is 2) a successor 's management ability, the third is 3) a successor' s self-efficacy, and the last priority is 4) a succession plan. In particular, 3 sub-factors that make up the relationship with an incumbent are the most important factors. These factors rank the first to the third in the final result.