Family companies are trying to establish the proper structure for their company that also aligns with their beliefs and ideals. This is majorly due to intensifying market competition, weak governance structures, lack of succeeding leadership etc. (Hnatek 2012). As a result, family company owners and executives must be prepared to employ the most effective tactics and practices in order to navigate the generational shift and keep their enterprises afloat in the market economy (Cioca et al. 2020). In this regard, the role of corporate governance and succession planning have been highlighted by various researchers (Luan et al. 2018). In this recognition, the present paper intends to delineate the role of corporate governance and succession planning in sustainability of the family-owned businesses. The aim of this article is to identify the role of corporate governance and succession planning in the family business sustainability of Jordan. The findings of the study indicate that good corporate governance practices succession planning have been incorporated by the Family businesses in Jordan, which have contributed to the sustainability and profitability of these enterprises.

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Role of Corporate Governance and Succession Planning in Family Business Sustainability of Jordan

  • Ahmad Fathi Alheet

摘要

Family companies are trying to establish the proper structure for their company that also aligns with their beliefs and ideals. This is majorly due to intensifying market competition, weak governance structures, lack of succeeding leadership etc. (Hnatek 2012). As a result, family company owners and executives must be prepared to employ the most effective tactics and practices in order to navigate the generational shift and keep their enterprises afloat in the market economy (Cioca et al. 2020). In this regard, the role of corporate governance and succession planning have been highlighted by various researchers (Luan et al. 2018). In this recognition, the present paper intends to delineate the role of corporate governance and succession planning in sustainability of the family-owned businesses. The aim of this article is to identify the role of corporate governance and succession planning in the family business sustainability of Jordan. The findings of the study indicate that good corporate governance practices succession planning have been incorporated by the Family businesses in Jordan, which have contributed to the sustainability and profitability of these enterprises.