What do we know about succession in family businesses? Mapping current knowledge and unexplored territory

We review studies on succession in family businesses that have been done since Handler’s (1994) seminal literature review on the topic in an effort to synthesize existing research and outline paths for future studies. We offer three contributions. First, we select succession studies that adhere to established methodological standards. Second, we review these studies based on the perspective that succession is a process comprising five stages across three levels of analysis. Finally, we outline current gaps in our knowledge and ask researchers to adopt a more holistic approach when studying succession