The Impact of Knowledge Management of Family Business Succession Voluntary in Thailand’s Small and Medium Enterprises (SMEs)
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Abstract
This research aimed to find out the impacts of knowledge management on family business voluntary succession among family-owned SMEs in Thailand. Since family businesses, mainly SMEs, are vital to the country's economic system, they play a crucial role in economic development and employment. However, only a small proportion of family businesses could survive for subsequent generations of successors. Thus, the empirical findings of the recent study would help family businesses or SMEs in Thailand figure out family business succession. There are 382 respondents who are at least second generation family firms who participated in this survey via a Google Form online channel. The sampling methods are snowball and convenience sampling. The empirical results of this study found that knowledge management plays key roles in family businesses, both directly and indirectly. On one hand, knowledge management is a mediator variable between family business succession preparation and voluntary succession, which means the indirect effect of KM. On the other hand, the total effect of voluntary succession in family businesses is higher. Moreover, the moderate effect of technology adoption on knowledge management and succession planning is found as well.
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