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High family ownership in East Asia creates conflicts of interest between shareholders and minorities that affect the likelihood of value. This study examined the effect of family ownership on firm value. In addition, this study also examines the mediating role of financial performance and corporate governance in the relationship between family ownership and firm value. This research includes explanatory research with a quantitative method approach. Path analysis test is used to test the research hypothesis. The object used in this research is the basic and chemical industry sector in 2016-2019. The population in this study found 72 companies using 19 companies as research samples. This study uses a purposive sample method. The data collected is secondary data and analyzed by descriptive statistics. The results of the study prove that family ownership has a significant positive effect on firm value, family ownership has a significant positive effect on financial performance, family ownership has a significant positive effect on corporate governance, financial performance has a significant positive effect on firm value, corporate governance has a significant positive effect on firm value. Financial performance and corporate governance mediate the relationship of family ownership to firm value in the basic and chemical industry sector in 2016-2019. It should be emphasized that improving financial performance and implementing a good corporate governance system are the main keys to increasing company value.

This study explains the modes of intergenerational succession by female successors in Chinese family businesses and the selection mechanism. In view of the family businesses to which females (daughters) belong, this paper proposes five types of intergenerational succession modes of family businesses, namely the kindred-based succession by the daughter, kindred-based succession by others, joint succession by the daughter and her siblings, joint succession by the daughter and her husband (son-in-law), and succession by a professional manager. By means of case analysis, this study also explores the driving forces for choosing a proper model from the above five succession modes, including family structure, the father’s and business owner’s attitudes, and the daughter’s attitude toward succession, etc. This paper contributes to the domain of the intergenerational succession mode by ‘female (daughter) successors’ in Chinese family-owned businesses theoretically and practically.

It remains unclear how lack of management succession planning relates to the collapse of 87% of the Tanzanian family-owned manufacturing businesses (FOMBs) after the first generation.  Also, the question of whether a firm’s background variables, namely; executive’s education level, business age, and business size, moderate the relationship between management succession planning and the survival of FOMBs remains unanswered. Therefore, this study investigated the relationship between succession planning and the survival of FOMBs, moderated by the firm’s background variables through the lens of resource-based theory as well as agency theory. A sample of 339 executives was randomly drawn from the FOMBs in Dar es Salaam city where the collapse of FOMBs after the first generation was revealed to be significant and surveyed using a structured questionnaire. Multiple linear regression was used as a quantitative data analysis technique with the support of SPSS as an analytical tool. Results revealed that management succession variables, namely; training the successor, successor involvement in business management and successor factors-work fit had a positive and significant relationship with the survival of FOMBs. However, the internal recruitment of the successor had an insignificant relationship with the survival of FOMBs. Therefore, management succession planning sustains the leadership pipeline and survival of the FOMBs through the involvement of the successor in business management, sufficiently training the successor, and handing over power to the successor whose competency and factors fit with the relevant work. The study contributes to an understanding of management succession planning variables and how they relate to the survival of family-owned manufacturing businesses. The study also provides a new conceptual framework on transgenerational management succession planning in the FOMBs.