Implementation of Values on Family Company Succession in Bali Province, Indonesia

Abstract The main purpose of the research is to investigate the implementation of values on family company successions in Bali. This descriptive research was conducted in family business in Bali which have done successions to, at least, their second generation. The data was analyzed qualitatively and quantitatively by using Likert scale. Meanwhile, to discover the implementation of values towards successors' performance, PLS (Partial Least Square) analysis was carried out. The research elaborates that (1) values are positive and significant effect on the characteristics of successor, (2) values did not affect the succession planning, (3) strong values which were emphasized by the owners did not affect the succession planning, (4) values did not affect the successors' performance, and (5) values which were transferred by predecessors did not have any impacts on the successors' performance. The strongest indicator of values to enhance the performance of successors was innovation. Keywords: family company, business, performance, succession, successor , innovation, values