Episode 73: Peter Jaskiewicz on Family Enterprise Legacy and the Psychology of Ownership

This week on the Family Business Audiocast we feature Peter Jaskiewicz, one of the world's leading scholars in family enterprise and founding director of the Family Enterprise Legacy Institute at the University of Ottawa. Drawing on his own family's business history and decades of research, he discusses why shareholder agreements matter so much to long-term value, what separates families that endure from those that don't, and the often unspoken psychological weight carried by rising generation members. The conversation covers succession planning, governance, mental health in family enterprise, and why strong family businesses matter for society at large. This episode brings a candid, research-grounded look at legacy, ownership, and what it really takes to prepare the next generation.00:00 Introduction to the Audiocast01:18 Meeting Peter Jaskiewicz02:17 Peter's academic path and research04:18 Peter's current focus areas06:29 Why shareholder agreements matter08:43 Peter's family business roots in Poland10:38 A family crisis and its lessons12:39 Governance without a charismatic leader14:08 Succession as legacy protection15:41 Why glue matters more than governance17:28 Power, ego, and family leadership19:10 The psychological burden of the next gen20:17 Escaping a parent's shadow22:04 When family members don't want in23:28 The competitor irony25:10 Defining next gen versus rising gen27:29 Starting early with young children29:00 A succession plan attempted too late30:12 Family businesses and their societal weight31:30 Why family firms are a force for good33:41 The overlooked majority of businesses35:52 Preparing families like preparing to swim