A Study on the Condition of Family Management Convention and its Intention to Sign it
This paper analyzed the necessity of family management agreement in management succession and the intention of signing it. To this end, 139 management successors were surveyed and the factors affecting the family management agreement were analyzed. The main analysis results are as follows. Firstly, Priority in the management agreement system was the highest participation in decision-making with 34.5 percent, or 19 people, followed by the sharing of management roles and the distribution of revenues and expenses with 27.3 percent, respectively. Secondly, An analysis of the difference between cohabitation with parents and the need for a family management agreement showed that 70.2 percent of successors and 51.7 percent of non-residents shared the opinion that a family management agreement is needed. Finally, according to the analysis, the lower the age of the heirs, the higher the willingness to sign the family management agreement, the more likely the successor who graduated from a related university in the agricultural industry, and the more likely the successor who is a farmer in an urban area, the more willing he is to sign the family management agreement.