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@article{190066,
        author = {Ramasubramaniam},
        title = {SECOND-GENERATION ENTREPRENEURSHIP IN FAMILY BUSINESSES: SUCCESSION, GOVERNANCE AND STRATEGIC RENEWAL},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {12},
        number = {8},
        pages = {2771-2772},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=190066},
        abstract = {Second-generation entrepreneurship refers to the entrepreneurial role assumed by successors who inherit, join, and subsequently lead family businesses founded by an earlier generation. This article examines the concept, key drivers, and challenges of second-generation entrepreneurship with emphasis on succession, governance, and strategic renewal in family firms. Drawing on existing studies, the paper highlights how inherited financial, social, and human capital shape the attitudes and behaviour of second-generation entrepreneurs compared to first-generation founders. The review indicates that while second-generation involvement can facilitate geographic expansion, professionalization, and innovation, it is also associated with heightened risks related to family conflict, unclear succession, and strategic inertia. The findings suggest that structured succession planning, formal governance mechanisms, and deliberate capability building are critical for sustaining family businesses beyond the second generation.},
        keywords = {Second-generation entrepreneurship; Family business; Succession planning; Governance; Strategic renewal; Intergenerational transition.},
        month = {January},
        }