Why do some firms disappear within the first couple of years after their foundation whereas other firms create value over generations? By looking on the case of family firms, the most symbiotic among all business relationships, where family and business rely on each other, we are able to evaluate determinants of transgenerational entrepreneurship. Whereas the preservation of status quo, nepotism and expropriation of nonfamily shareholders are found to impede entrepreneurial activity across generations, family entrepreneurial orientation is found to foster longevity of family businesses.