Abstract

This study examines the dynamics of entrepreneurial succession within business families, with a focus on nineteenth-century Milan. The research draws insights from probate proceedings and last wills, which serve as valuable archival sources, offering a window into family relationships, values, and cultural aspects. The study concentrates on 61 affluent individuals (56 men and 5 women) belonging to the local business community. Their substantial wealth and inheritance strategies are meticulously analysed, revealing a diverse range of decisions shaped by social traditions, customs, and personal sentiments. Demographic factors played a pivotal role; in cases without male heirs, the business often did not persist, except for a few instances where women facilitated the transition to the next (male) generation. In conclusion, aligned with recent literature, the enterprise’s longevity hinged on an intricate interplay of factors, encompassing family structure, emotions, market conditions, and organizational dynamics