Agarwal, R., Rastogi, S., and Mehrotra, A. (2009). Customers’
perspectives regarding e-banking in an emerging economy. Journal of
Retailing and Consumer Services, 16(5):340-351.
Ajzen, I. (1991). The theory of planned behavior. Organizational
Behaviour and Human Decision Processes, 50(1):179-211.
Antoni, X. and Matchaba-Hove, T. (2016). Factors influencing black
consumers’ financial planning intentions: An exploratory study. The
International Business Conference (IBC) 10th Annual Conference,
Langebaan, South Africa 25-28 September.
Asemi, A. and Riyahiniya, N. (2007). Awareness and use of digital
resources in the libraries of Isfahan University of Medical Sciences,
Iran. The Electronic Library, 25(3):316-327.
Bizri, R. (2016). Succession in the family business: Drivers and
pathways. International Journal of Entrepreneurial Behavior and
Research, 22(1):133-154.
Black, T.R. (1999). Doing quantitative research in the social
sciences: An integrated approach to research design, measurement,
and statistics. London: SAGE Publications.
Blumentritt, T., Mathews, T, and Marchisio, G. (2012). Game theory
and family business succession: An introduction. Family Business
Review, 26(1):51–61.
Botha, M., Rossini, L., Du Preez, L., Geach, W.D. & Goodall, B.B.
(2017). The South African financial planning handbook. Durban:
LexisNexis.
Botha, M., Rossini, L., Geach, W., Goodall, B., du Preez, L. &
Rabinowitz, P. (2015). South African financial planning handbook.
Durban: LexisNexis.
Bratman, M.E. (1987). Intentions, plans, and practical reason. In Rao,
A. & Georgeff , M.P. 1991. Deliberation and its role in the formation
of intentions. Harvard, MA: Harvard University Press. [Online].
Available: https://dslpitt.org/uai/papers/91/p300-rao.pdf (Accessed on
24 May 2017).
Coulter, K.S. & Coulter, R.A. (2002). Determinants of trust in a
service provider: The moderating role of length of relationship.
Journal of Services Marketing, 16(1):35-50.
Davis, F.D., Bagozzi, R.P. & Warshaw, P.R. 1992. Extrinsic and
intrinsic motivation to use computers in the workplace. Journal of
Applied Social Psychology, 22(14):1109-1130.
De Massis, A., Chua, J.H. & Chrisman, J.J. 2008. Factors preventing
intra-family succession. Family Business Review, 21(2):183-199.
Eddleston, K.A., Kellermanns, F.W., Crittenden, V.L. & Crittenden,
W.F. 2013. Planning for growth: Life stage differences in family
firms. Entrepreneurship Theory and Practice, pp. 1177-1202.
Family Business Institute. (2016). Global data points. [Online].
Available: http://www.ffi.org/page/globaldatapoints (Accessed: 02
March 2017).
Filser, M., Kraus, S. & Märk, S. (2013). Psychological aspects of
succession in family business management. Management Research
Review, 36(3):256-277.
Giarmarco, J. (2014). The three levels of family business succession
planning. Estate planning special report.
Hunt, K., Brimble, M. & Freudenberg, B. (2011). Determinants of
client-professional relationship quality in the financial planning
setting. Australasian Accounting, Business and Finance Journal,
5(2):69-99.
Kelly Wealth. (2011). The importance of estate planning for family
businesses. [Online]. Available: http://www.kellywealth.com.au/theimportance-of-estate-planning-forfamily-businesses/ (Accessed: 23
April 2017).
Koropp, C., Kellermanns, F.W., Grichnik, D. & Stanley, L. (2014).
Financial decision making in family firms: An adaptation of the theory
of planned behavior. Family Business Review, 1-21.
Lachance, M.E. & Tang, N. (2012). Financial advice and trust.
Financial Services Review, 21(1):209-226.
Maunsell, J.H.R. (2004). Neuronal representations of cognitive state:
Reward or attention? Trends in Cognitive Sciences, 8:261-265.
Pather, M. (2014). Factors affecting the consumer decision making
process in Africa: An exploratory study. Unpublished Masters thesis.
Pretoria: University of Pretoria.
Pikkarainen, T., Pikkarainen, K., Karjaluoto, H. & Pahnila, S. (2004).
Consumer acceptance of online banking: An extension of the
technology acceptance model. Internet Research: Electronic
Networking Applications and Policy, 14(3):224-235.
PwC. (2016). Family business survey [Online]. Available:
http://www.PwC.co.za/en/assets/pdf/family-business-survey-2016.pdf
(Accessed 01 March 2017).
Schwass, J. (2013). Family businesses: Successes and failures. IMD
Global Family Business Center. [Online]. Available:
http://www.imd.org/uupload/IMD.WebSite/MicroSites/family
business/pdfs/Family%20Businesses%20%20Successes%20and%20F
ailures.pdf (Accessed 01 March 2017).
Venter, E. & Farrington, S. (2009). The nature of family businesses
and their importance for economic development. [Online]. Available:
http://dspace.nwu.ac.za/bitstream/handle/10394/5240/No_58(2009)_V
enter_E_%26_Farrington_S.pdf?sequence=1 (Accessed 1 March
2017).
Venter, E., Boshoff, C. & Maas, G. (2005). The influence of
successor-related factors on the succession process in small and
medium-sized family businesses. Family Business Review, 18(4):283-
303.
Visser, T. & Chiloane-Tsoka, E. (2014). An exploration into family
business and SMEs in South Africa, Problems and Perspectives in
Management, 12(4):427-432.
Weathington, L.B., Cuningham, J.J.C. & Pittenger, J.D. (2010).
Research methods for the behavioral and social sciences. New Jersey:
John Wiley and Sons.
Zedelius, C.M., Veling, H., Custers, R., Bijleveld, E., Chiew, K.S. &
Aarts, H. (2014). A new perspective on human reward research: How
consciously and unconsciously perceived reward information
influences performance. NCBI, 14:493-508.
Zeka, B., Antoni, X., Goliath, J. & Lillah, R. (2016). The factors
influencing the use of financial planners. Journal of Economic and
Financial Sciences, 9(1):76-92.
FAMILY BUSINESS OWNERS’ PERCEPTIONS ON SEEKING ESTATE PLANNING ASSISTANCE
Year 2019,
Volume: 11 Issue: 2, 55 - 71, 31.07.2019
The high failure rate among family businesses in South Africa is a
cause for concern, given the impact and significance that these
businesses have on society and the economy as a whole. Improper – or
a lack of – succession planning and estate planning among family
businesses is considered the most pressing reason why family
businesses fail. The purpose of this study was to investigate the factors
that influence family business owners’ intention to seek estate
planning assistance from a financial planning professional. The four
factors that were identified as influencing family business owners’
intention to seek estate planning assistance were awareness, family
financial norms, trust, and potential benefits. A questionnaire was
developed based on the valid and reliable items. Statistical techniques,
including descriptive statistics, Cronbach’s alpha coefficients, and
multiple regression analysis were performed on data gathered from
148 family businesses. The results of this study showed that three of
the four factors – family financial norms, trust, and awareness – were
found to exert a significant influence on family business owners’
intention to seek estate planning assistance.
Agarwal, R., Rastogi, S., and Mehrotra, A. (2009). Customers’
perspectives regarding e-banking in an emerging economy. Journal of
Retailing and Consumer Services, 16(5):340-351.
Ajzen, I. (1991). The theory of planned behavior. Organizational
Behaviour and Human Decision Processes, 50(1):179-211.
Antoni, X. and Matchaba-Hove, T. (2016). Factors influencing black
consumers’ financial planning intentions: An exploratory study. The
International Business Conference (IBC) 10th Annual Conference,
Langebaan, South Africa 25-28 September.
Asemi, A. and Riyahiniya, N. (2007). Awareness and use of digital
resources in the libraries of Isfahan University of Medical Sciences,
Iran. The Electronic Library, 25(3):316-327.
Bizri, R. (2016). Succession in the family business: Drivers and
pathways. International Journal of Entrepreneurial Behavior and
Research, 22(1):133-154.
Black, T.R. (1999). Doing quantitative research in the social
sciences: An integrated approach to research design, measurement,
and statistics. London: SAGE Publications.
Blumentritt, T., Mathews, T, and Marchisio, G. (2012). Game theory
and family business succession: An introduction. Family Business
Review, 26(1):51–61.
Botha, M., Rossini, L., Du Preez, L., Geach, W.D. & Goodall, B.B.
(2017). The South African financial planning handbook. Durban:
LexisNexis.
Botha, M., Rossini, L., Geach, W., Goodall, B., du Preez, L. &
Rabinowitz, P. (2015). South African financial planning handbook.
Durban: LexisNexis.
Bratman, M.E. (1987). Intentions, plans, and practical reason. In Rao,
A. & Georgeff , M.P. 1991. Deliberation and its role in the formation
of intentions. Harvard, MA: Harvard University Press. [Online].
Available: https://dslpitt.org/uai/papers/91/p300-rao.pdf (Accessed on
24 May 2017).
Coulter, K.S. & Coulter, R.A. (2002). Determinants of trust in a
service provider: The moderating role of length of relationship.
Journal of Services Marketing, 16(1):35-50.
Davis, F.D., Bagozzi, R.P. & Warshaw, P.R. 1992. Extrinsic and
intrinsic motivation to use computers in the workplace. Journal of
Applied Social Psychology, 22(14):1109-1130.
De Massis, A., Chua, J.H. & Chrisman, J.J. 2008. Factors preventing
intra-family succession. Family Business Review, 21(2):183-199.
Eddleston, K.A., Kellermanns, F.W., Crittenden, V.L. & Crittenden,
W.F. 2013. Planning for growth: Life stage differences in family
firms. Entrepreneurship Theory and Practice, pp. 1177-1202.
Family Business Institute. (2016). Global data points. [Online].
Available: http://www.ffi.org/page/globaldatapoints (Accessed: 02
March 2017).
Filser, M., Kraus, S. & Märk, S. (2013). Psychological aspects of
succession in family business management. Management Research
Review, 36(3):256-277.
Giarmarco, J. (2014). The three levels of family business succession
planning. Estate planning special report.
Hunt, K., Brimble, M. & Freudenberg, B. (2011). Determinants of
client-professional relationship quality in the financial planning
setting. Australasian Accounting, Business and Finance Journal,
5(2):69-99.
Kelly Wealth. (2011). The importance of estate planning for family
businesses. [Online]. Available: http://www.kellywealth.com.au/theimportance-of-estate-planning-forfamily-businesses/ (Accessed: 23
April 2017).
Koropp, C., Kellermanns, F.W., Grichnik, D. & Stanley, L. (2014).
Financial decision making in family firms: An adaptation of the theory
of planned behavior. Family Business Review, 1-21.
Lachance, M.E. & Tang, N. (2012). Financial advice and trust.
Financial Services Review, 21(1):209-226.
Maunsell, J.H.R. (2004). Neuronal representations of cognitive state:
Reward or attention? Trends in Cognitive Sciences, 8:261-265.
Pather, M. (2014). Factors affecting the consumer decision making
process in Africa: An exploratory study. Unpublished Masters thesis.
Pretoria: University of Pretoria.
Pikkarainen, T., Pikkarainen, K., Karjaluoto, H. & Pahnila, S. (2004).
Consumer acceptance of online banking: An extension of the
technology acceptance model. Internet Research: Electronic
Networking Applications and Policy, 14(3):224-235.
PwC. (2016). Family business survey [Online]. Available:
http://www.PwC.co.za/en/assets/pdf/family-business-survey-2016.pdf
(Accessed 01 March 2017).
Schwass, J. (2013). Family businesses: Successes and failures. IMD
Global Family Business Center. [Online]. Available:
http://www.imd.org/uupload/IMD.WebSite/MicroSites/family
business/pdfs/Family%20Businesses%20%20Successes%20and%20F
ailures.pdf (Accessed 01 March 2017).
Venter, E. & Farrington, S. (2009). The nature of family businesses
and their importance for economic development. [Online]. Available:
http://dspace.nwu.ac.za/bitstream/handle/10394/5240/No_58(2009)_V
enter_E_%26_Farrington_S.pdf?sequence=1 (Accessed 1 March
2017).
Venter, E., Boshoff, C. & Maas, G. (2005). The influence of
successor-related factors on the succession process in small and
medium-sized family businesses. Family Business Review, 18(4):283-
303.
Visser, T. & Chiloane-Tsoka, E. (2014). An exploration into family
business and SMEs in South Africa, Problems and Perspectives in
Management, 12(4):427-432.
Weathington, L.B., Cuningham, J.J.C. & Pittenger, J.D. (2010).
Research methods for the behavioral and social sciences. New Jersey:
John Wiley and Sons.
Zedelius, C.M., Veling, H., Custers, R., Bijleveld, E., Chiew, K.S. &
Aarts, H. (2014). A new perspective on human reward research: How
consciously and unconsciously perceived reward information
influences performance. NCBI, 14:493-508.
Zeka, B., Antoni, X., Goliath, J. & Lillah, R. (2016). The factors
influencing the use of financial planners. Journal of Economic and
Financial Sciences, 9(1):76-92.
Matchaba Hove, T., & Troskie, T. (2019). FAMILY BUSINESS OWNERS’ PERCEPTIONS ON SEEKING ESTATE PLANNING ASSISTANCE. International Journal of Economics and Finance Studies, 11(2), 55-71. https://doi.org/10.34109/ijefs.201911204
AMA
Matchaba Hove T, Troskie T. FAMILY BUSINESS OWNERS’ PERCEPTIONS ON SEEKING ESTATE PLANNING ASSISTANCE. IJEFS. July 2019;11(2):55-71. doi:10.34109/ijefs.201911204
Chicago
Matchaba Hove, Tony, and Teneille Troskie. “FAMILY BUSINESS OWNERS’ PERCEPTIONS ON SEEKING ESTATE PLANNING ASSISTANCE”. International Journal of Economics and Finance Studies 11, no. 2 (July 2019): 55-71. https://doi.org/10.34109/ijefs.201911204.
EndNote
Matchaba Hove T, Troskie T (July 1, 2019) FAMILY BUSINESS OWNERS’ PERCEPTIONS ON SEEKING ESTATE PLANNING ASSISTANCE. International Journal of Economics and Finance Studies 11 2 55–71.
IEEE
T. Matchaba Hove and T. Troskie, “FAMILY BUSINESS OWNERS’ PERCEPTIONS ON SEEKING ESTATE PLANNING ASSISTANCE”, IJEFS, vol. 11, no. 2, pp. 55–71, 2019, doi: 10.34109/ijefs.201911204.
ISNAD
Matchaba Hove, Tony - Troskie, Teneille. “FAMILY BUSINESS OWNERS’ PERCEPTIONS ON SEEKING ESTATE PLANNING ASSISTANCE”. International Journal of Economics and Finance Studies 11/2 (July 2019), 55-71. https://doi.org/10.34109/ijefs.201911204.
JAMA
Matchaba Hove T, Troskie T. FAMILY BUSINESS OWNERS’ PERCEPTIONS ON SEEKING ESTATE PLANNING ASSISTANCE. IJEFS. 2019;11:55–71.
MLA
Matchaba Hove, Tony and Teneille Troskie. “FAMILY BUSINESS OWNERS’ PERCEPTIONS ON SEEKING ESTATE PLANNING ASSISTANCE”. International Journal of Economics and Finance Studies, vol. 11, no. 2, 2019, pp. 55-71, doi:10.34109/ijefs.201911204.
Vancouver
Matchaba Hove T, Troskie T. FAMILY BUSINESS OWNERS’ PERCEPTIONS ON SEEKING ESTATE PLANNING ASSISTANCE. IJEFS. 2019;11(2):55-71.