Dimensions of Intergenerational Farm Business Transfers in Canada, England, the USA and Japan

Abstract

Despite widespread concern that fewer and fewer individuals wish to enter farming as a career, intergenerational succession remains an important objective for many farm businesses. Indeed, it can be argued that intergenerational transfer represents a fundamental aspect of the social sustainability of family farming. Previous research has frequently focused on the transfer of physical assets, while less attention has been devoted to the transfer of the intangible assets of the farm business such as managerial skills and farm-specific knowledge. This paper focuses on the succession process after a successor has been identified and analyses patterns of behaviour regarding the delegation of management responsibility. Data from the international comparative studies is used to compare the main routes to succession in four countries and identifies how different routes to succession can influence the delegation of managerial responsibility. In doing so, the paper reflects on the ‘farmer's boy' problem and considers the implications for the successful transfer and survivability of the farm business.