Abstract
The proposed research will offer a structured literature review on generational involvement in family firms. Then, we integrate family business and non-family business literature through generational theory which proposes that experiences and historical events that people have lived through shape individuals’ behaviour. The core assumption of this theory that will be used in the proposed study is that each generation differs in terms of leadership style, wealth management as well as attitudes toward balancing work and life. Hence, the integration of family generational issues with societal generational characteristics provides the opportunity to enhance our theoretical understanding of the drivers of decision-making and distinct family business behaviour, and ultimately the causes of family business heterogeneity. Additionally, we also offer a brief overview of the contributions of each paper, and drawing on this review we identify some important research gaps and suggest future research directions.