Ticián Baranyai Was a BA student of Corvinus University of Budapestat the time of writing the original version of the article.

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Miklós Kozma Corresponding author. Associate Professor at the Institute of Business Economics, Corvinus University of Budapest.

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The focus of our research is the internationalisation of the small-medium size family firms in Hungary, with particular attention to the effect of generational change on internationalisation. Our examination is based on interviews with the current management of six family firms from different industries. We had two research propositions: First, we analysed if and how successors in the family businesses were more open to the internationalisation of the company. Our results provide insights reflecting that the predecessors are usually quite open, and successors are not always as open when they assume control over the company, unlike the existing internationalisation patterns of family firms would suggest. Potential explanations reveal related characteristics of the Central-Eastern European (CEE) region. Secondly, in terms of how and why the leadership style and approach of the predecessors affect the internationalisation of family firms, our findings from different cases vary. The historical and cultural background of the family firms' founders and early-generation successors exert notable influence on the internationalisation process, while the role of predecessors' personal characteristics may not be as strong a driver of internationalisation as previously suggested. The management implications of our findings suggest that the Hungarian family firms show regional patterns in terms of their internationalisation, and generic approaches to generational change and succession may not explain the process as much as extant literature on international family business suggests.

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Senior editors

Editor(s)-in-Chief: Prof. Dr. Mihályi, Péter

Editor(s): Ványai, Judit

Editorial Board

  • Ádám Török (Chairman) / University of Pannonia; Budapest University of Technology and Economics
  • Edina Berlinger / Corvinus University of Budapest, Department of Finance
  • Beáta Farkas / Faculty of Economics and Business Administration, University of Szeged
  • Péter Halmai / Budapest University of Technology and Economics; National University of Public Service
  • István Kónya / Institute of Economics Centre for Regional and Economic Studies, University of Pécs
  • János Köllő / Institute of Economics Centre for Regional and Economic Studies
  • István Magas / Corvinus University of Budapest, Department of World Economy; University of Physical Education, Department. of Sports and Decision Sciences

Advisory Board

  • Ǻslund, Anders, Institute of International Economics, Washington (USA)
  • Kolodko, Grzegorz, Kozminski University, Warsaw (Poland)
  • Mau, Vladimir, Academy of National Economy (Russia)
  • Messerlin, Patrick A, Groupe d’Economie Mondiale (France)
  • Saul Estrin, London School of Economics (UK)
  • Wagener, Hans-Jürgen, Europa Universität Viadrina (Germany)

Corvinus University of Budapest
Department of Economics
Fővám tér 8 Budapest, H-1093, Hungary

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Acta Oeconomica
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Acta Oeconomica
Language English
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Founder Magyar Tudományos Akadémia
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ISSN 0001-6373 (Print)
ISSN 1588-2659 (Online)

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