The present research study intends to provide further insights into the psychological ownership experienced by next-generation members in relation to their family firms. Since the area of research is still very young, explorative research is needed. Therefore, we performed a mixedmethods qualitative investigation on a sample of 20 next-generation members of family-owned firms of different sizes, generational stages and business sectors. The origin, transmission and manifestations of

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... l ownership towards the family business were studied through interpretative phenomenological and ethnographic analyses. The study also explored the factors that foster or undermine the development of a healthy and fulfilling relation between nextgeneration members and the family business. Our findings suggest that next-generation members generally experience strong levels of psychological ownership. The development of a positive psychological ownership is associated with various factors such as shared experiences, well-functioning governance bodies, structured and planned entry to the business, psychological empowerment and owning shares, among others.