The Family Business Map: Framework, Selective Survey, and Evidence from Chinese Family Firm Succession

43 Pages Posted: 27 Sep 2014

See all articles by Morten Bennedsen

Morten Bennedsen

INSEAD - Economics and Political Sciences; University of Copenhagen - Department of Economics

Joseph P. H. Fan

The Chinese University of Hong Kong (CUHK) - School of Accountancy

Ming Jian

Nanyang Technological University (NTU)

Yin‐Hua Yeh

National Chiao-Tung University

Date Written: September 25, 2014

Abstract

This paper analyzes the causes and consequences of founding family engagement in firm ownership and management. We hypothesize that families manage their firms because they are able to make contributions that non-family managers cannot provide. However, roadblocks arising from within the family, from markets, and from surrounding institutions challenge family ownership. We propose a new framework for organizing these assets and roadblocks, called the family business map; this framework is useful for categorizing the papers presented in this Special Issue. We support the predictions of the framework with evidence from Chinese family firm succession, and conclude that family firm organization is an adaptation to environmental opportunities and constraints. We end the paper with suggestions for future research.

Keywords: Family firms, Family assets, Roadblocks, Succession

JEL Classification: D23, L20, M13

Suggested Citation

Bennedsen, Morten and Fan, Po Hung Joseph P. H. and Jian, Ming and Yeh, Yin‐Hua, The Family Business Map: Framework, Selective Survey, and Evidence from Chinese Family Firm Succession (September 25, 2014). INSEAD Working Paper No. 2014/53/EPS/WICFE. Available at SSRN: https://ssrn.com/abstract=2501364 or http://dx.doi.org/10.2139/ssrn.2501364

Morten Bennedsen (Contact Author)

INSEAD - Economics and Political Sciences ( email )

Boulevard de Constance
F-77305 Fontainebleau Cedex
France

University of Copenhagen - Department of Economics ( email )

Øster Farimagsgade 5, Bygn 26
Copenhagen, 1353
Denmark

Po Hung Joseph P. H. Fan

The Chinese University of Hong Kong (CUHK) - School of Accountancy ( email )

Shatin, N.T.
Hong Kong
(852) 26097839 (Phone)
(852) 26035114 (Fax)

Ming Jian

Nanyang Technological University (NTU) ( email )

Nanyang Business School
Singapore, 639798
Singapore

Yin‐Hua Yeh

National Chiao-Tung University ( email )

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
313
Abstract Views
1,834
rank
100,208
PlumX Metrics