T. O’Donoghue and M. Rabin, “Take Action Now or Take Action in the Future?” In: C. F. Kai Mole, G. Lowenstein and M. Rabin, Ed., Behavioral Economics Progress, Renmin University Press, Beijing, 2010, pp. 261-293.

has been cited by the following article:

• TITLE: The Intervention Effects of Succession Planning on Offspring’s Willingness to Take over Family Businesses—An Experimental Study Based on Behavioral Decision-Making and Opportunity Cost Theories

  AUTHORS: Jiemei Yang, Jing Xi, Xiaohua Han

  KEYWORDS: Family Business; Children’s Willingness to Take Over the Business; Succession Planning; Intervention

  JOURNAL NAME: American Journal of Industrial and Business Management, Vol.3 No.6, October 21, 2013

  ABSTRACT: The fact that offspring’s willingness to take over family business is extremely low is a severe problem hindering Chinese family businesses’ succession. This paper, based on behavioral decision-making theory and opportunity cost theory, identifies the decision-making attribute of offspring’s willingness to take over the business first, then explores and verifies the intervention effects of succession planning and temporal distance on such willingness. Experimental data from 135 samples indicate: offspring’s willingness to take over the business is significantly higher in the situation where parents develop a complete succession plan than in the situation where no succession plan is made; temporal distance moderates the effects of succession planning on offspring’s willingness. The study is supposed to provide theoretical evidence and practical suggestions for family business to promote offspring’s willingness to be the successor of family business.