ABSTRACT
Succession is a critical issue in family firms as it involves the transfer of leadership, thereby ensuring the continuity of family ownership. Succession planning is the deliberate and formal process of transferring management control from one family member, the founder, to another family member, the successor. Within the area of family businesses, the topic of succession occupies approximately one-third of the family business literature. Research has focused on succession planning as being crucial to the continuity of a business. Family firms are an important part of Pakistan's economy. In Pakistan, daughter's participation in family businesses or their succession in family businesses is affected by cultural factors. While family businesses may be the norm, due to the unique socio-cultural and religious environment, very few businesses include women in the family firm. Gender role expectations are played out along traditional lines in Pakistan, men traditionally take up roles outside the home while women are restricted to work within it.
