Family values, emotions and succession intentions among Asian Gen Z: a qualitative multi-country exploration

Purpose The purpose of this study is to explore the instilled family values in successors that evoke a range of emotions (positive, negative, neutral and ambivalent) that influence their decision-making process. Succession is an outcome of strategic decision-making and a critical time for both the predecessor and successor. In addition, this paper examines how emotion regulation mechanisms can address the need for research on succession in the Asian context, particularly regarding the declining number of successors to succeed. Design/methodology/approach This research was conducted qualitatively, which provides a closer connection to the real world and deals with complex phenomena. Data collection was conducted through three rounds of semi-structured interviews from 2022 to 2024. This paper used exploratory qualitative research to gain insight into underexplored phenomena through inductive reasoning and interpretation from 40 respondents across Asia. The data structure was displayed using Gioia’s methods. Findings This discussion investigates how Gen Z exhibits a distinctly different attitude towards succession, driven largely by their values and emotional dynamic responses. The analysis centres on the pivotal roles that family values and emotions play in shaping succession intention among Asian Gen Z. The findings suggest that strategic decisions to succeed also require internal and external stimuli. Research limitations/implications The main limitation of this research is that the concept of family values in regulating emotions can be developed further. Different concepts of values are worth investigating to assist in understanding how values can be tailored to suit the next generation of family business (FB) members. In addition, the role of culture in shaping family values also deserves attention. Practical implications The practical implications encourage successors to make objective decisions while upholding family values. Furthermore, this study provides insights into how FB owners enforce family values as binding among successors to ensure a successful succession process. Social implications In the Asian context, there is a relative lack of professional support from FBs’ advisors compared to the Western world. This study will increase awareness of the need to seek an expert counsellor to deal with FB paradoxes. Originality/value The originality and value of this research lie in the concept of family values in regulating emotions in the decision-making processes of successors in FBs. This study also contributes additional insight into demonstrating the applicability and complexity within diverse Asian socio-cultural settings.