小型家族企业的传代与继承时机

小型家族企业与非家族企业的主要不同在于：它们的运作受企业拥有者生命周期的影响；其它家族成员的考虑有时会导致对企业不利的管理决策。因此，平稳传代、确定继承人选及继承时机对于企业的利益和整个家族的福利来说都是至关重要的。在影响传代与选择继承人的诸多因素中，着重讨论与分析了如何确定传代与继承的最佳时机，包括：(1)继承人加入企业和开始学徒期的最佳时机；(2)企业所有权正式移交给继承人的最佳时间。文章认为，家族企业的代代相传和可持续发展，需要事先为传代和继承阶段作好打算。

The Optimal Timing of Intergenerational Succession in Small Family Businesses

The main difference between small family business and non- family business is that the functioning of family business is not independent of the life cycle of the owner- operator,and that other family considerations sometimes lead to sub- optimal managerial decisions from the point of view of the business.Therefore a smooth intergenerational succession is essential to the profitability of the business, and to the welfare of the family as a whole.There are many factors that influence the intergenerational succession in small family business.This paper has focused on two aspects of the general intergenerational succession problem separately:(1)the optimal time a successor joins the business and starts an apprenticeship period;and (2) the time a formal business ownership transfer to the successor is made.