THE INHERITANCE ELEMENTS OF FAMILY BUSINESS BASED ON RESOURCE-BASED VIEW
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Abstract
From the perspective of the resource-based theory, and based on the previous small-scale interviews and research, this paper studied the basic factors that family businesses could inherit. In view of the static characteristics of the research on the inheritance factors of family businesses from the perspective of the resource-based theory, it was proposed that the inheritance of the elements could be divided into two parts: resources and processes. We divided the resources inherited by the time points into the explicit and implicit parts. The explicit resources included equity and management power transfer, personal property distribution plan, financial resolution for the family members, etc. The implicit resources included family
member arrangements, stakeholder arrangements, outside business network arrangements, etc. The
arrangement of these resources in advance would be conducive to the smooth progress of inheritance. The
elements marked by the time period were divided into three parts: tacit knowledge transfer, inheritance plan implementation, and willing interaction. In the future, case studies and empirical analysis would be used to derive and construct relevant influencing factor models.
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