Our social legacy will go on: Understanding outcomes of family SME succession through engaged Buddhism

Burton, Nicholas, Vu, Mai Chi and Discua Cruz, Allan (2022) Our social legacy will go on: Understanding outcomes of family SME succession through engaged Buddhism. Journal of Business Research, 143. pp. 105-118. ISSN 0148-2963

1-s2.0-S0148296322000467-main.pdf - Published Version
Available under License Creative Commons Attribution 4.0.

Download (976kB) | Preview
Official URL: https://doi.org/10.1016/j.jbusres.2022.01.034


Family business succession has been typically understood as a function of safeguarding a biological, social or material legacy for future generations. While existing scholarship has suggested that family business succession to non-kin warrants further exploration, few have identified religion as an influential factor in such a process. In this study, we offer a counterintuitive illustration to existing explanations of kin succession in family businesses influenced by the role of religion. Our study of 12 Buddhist family businesses in Vietnam shows a connection between non-kin succession and Buddhist philosophy. In particular, we find that the Buddhist principles of non-attachment and impermanence were instrumental in influencing how incumbents rejected succession as a biological and material legacy process. In contrast, family businesses conceived succession as the continuance of a social legacy, whereby those who were best-placed to carry on the social legacy were selected as successors. We offer an inductive conceptual model that connects Buddhist principles to the foregrounding of a social legacy and our paper concludes with implications and opportunities for further research.

Item Type: Article
Uncontrolled Keywords: Family business, Succession, Legacy, Religion, Buddhism
Subjects: N100 Business studies
Department: Faculties > Business and Law > Newcastle Business School
Depositing User: Elena Carlaw
Date Deposited: 25 May 2022 10:58
Last Modified: 25 May 2022 11:15
URI: http://nrl.northumbria.ac.uk/id/eprint/49190

Actions (login required)

View Item View Item


Downloads per month over past year

View more statistics