Succession in family-owned SMEs: the impact of advisors

We theorize and empirically confirm the positive influence of an advisor’s tertius iungens behavior on individual- and firm-level succession-related factors. Furthermore, we explore the moderating influence of two central advisor characteristics, namely, their type and process involvement. We find that the relationship between an advisor’s tertius iungens behavior and an incumbent’s and a successor’s satisfaction with the advisor tends to be...