Socio-Cultural Determinants of Transgenerational Survival of Family Businesses in Nigeria

This study examined the socio-cultural determinants of the transgenerational survival of family businesses in Nigeria. The study adopted a positivist research philosophy, a deductive approach, and a quantitative cross-sectional survey design. Data were collected from 324 founders, successors, family executives, and key decision-makers of family-owned businesses using a structured questionnaire and analysed with Partial Least Squares Structural Equation Modelling (PLS-SEM). The findings revealed that cultural norms and practices significantly and positively influence transgenerational survival (β = 0.341, p < 0.001), whereas inheritance practices (β = -0.228, p < 0.001) and extended family obligations together with gendered succession practices (β = -0.187, p < 0.001) exert significant negative effects on business continuity. The structural model explained 62.4% of the variation in transgenerational survival (R² = 0.624), indicating satisfactory explanatory power. The study concludes that while supportive socio-cultural values enhance continuity, sustainable transgenerational survival requires inclusive succession practices, effective governance structures, and well-managed inheritance systems.

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