Prior literature focuses on the causes and effects of ownership concentration between significant blockholders and minority shareholders. Anecdotal evidence shows that it is also important to look at the causes and effects of ownership concentration within controlling families as family ownership can become diffused after generations. Family trust is a popular vehicle for holding family ownership. It allows a founder to concentrate firm ownership on a long-term basis, preventing control loss after he/she steps down. Family members can enjoy control benefits such as preservation of their family intangible assets. However, there is tradeoff. Family members cannot resolve their conflicts by acquiring and selling off shares among them, since they are no longer the legal owners of the shares. / Using a sample of 216 family firms listed on the Hong Kong Stock Exchange with time series data spanning 1990--2008, I investigate the causes and effects of ownership concentration by means of family trust. I fmd that when family control is important (when there exists a large amount of family intangibles), there is a higher propensity that family trust is used to concentrate ownership and secure control, provided that the cost of using it is low (small family size hence low family conflict). However, when there are more and more family members after generations, the benefit of preserving the intangibles may not be high enough to cover the cost of potential family conflict, leading to firm value loss. Moreover, the cost of using trust magnifies during difficult periods such as financial distress, economic downturn and leadership succession. Hence, firms with high potential family conflict have poorer performance during difficult time if family trust is used for holding the firm's controlling stake. Family trust also induces common pool problem. Family members tend to extract resources from the family firm as much and as early as possible, leading to higher payout and slower firm growth. / Leung, Siu Ching. / Adviser: Joseph P. H. Fan. / Source: Dissertation Abstracts International, Volume: 73-03, Section: A, page: . / Thesis (Ph.D.)--Chinese University of Hong Kong, 2010. / Includes bibliographical references (leaf 58). / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Electronic reproduction. [Ann Arbor, MI] : ProQuest Information and Learning, [201-] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Electronic reproduction. Ann Arbor, MI : ProQuest Information and Learning Company, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Abstract also in Chinese.

Lau Yuen-ke. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2001. / Includes bibliographical references (leaves 122-123). / Abstracts in English and Chinese. / Abstract --- p.i / Abstract in Chinese --- p.iii / Acknowledgements --- p.iv / Table of Contents --- p.v / List of Tables --- p.vi / Chapter Chapter 1. --- Introduction --- p.1 / Chapter Chapter 2. --- Literature Review --- p.5 / Chapter Chapter 3. --- Hypothesis --- p.24 / Chapter Chapter 4. --- Methodology --- p.43 / Chapter Chapter 5. --- Sample Description --- p.53 / Chapter Chapter 6. --- Empirical Results --- p.61 / Chapter Chapter 7. --- Conclusion --- p.72 / Appendix 1. Definitions and calculations of variables --- p.75 / Appendix 2. Piecewise linear regression model suggested by Morck et al(1988) --- p.82 / Appendix 3. Tables --- p.87 / Bibliography --- p.122

本論文研究華人家族企業與華人家族之間的互動關係，並且以南洋兄弟煙草公司和簡氏家族作為本論文的個案研究。在論文中，將討論家族如何與為何影響公司的擁有權、控制權、公司經營和未來發展。同時，也將討論公司如何且為何影響一個家族的成立與擴張，與其他家庭的關係，以及如何從家族變成宗族。 / 在結論中，我將指出簡氏家族是一個成員不多的小家族，因此必須依賴親戚和廣東同鄉來經營。此外，雖然他們可藉著與簡氏家族的關係而進入南洋，但是他們在南洋的升遷與發展，則依賴他們的表現和與簡家的關係變化。因此在華人家族企業中，家族成員、親戚與同鄉可通過他們與家族的關係而進入企業工作，但是他們的未來取決於他們對公司的貢獻與表現，以及他們與家族之間的關係有何變化。 / 大部分的簡家成員是通過他們在海外的工作經驗而接觸並學習現代化技術，而非通過教育。此外，雖然簡氏家族在引入現代化技術以改善南洋的生產和管理，並且看似大膽且現代化，但實際上當他們在公司的權利可能因而受影響時，他們則表現得保守與傳統。因此，華人家族企業的現代化取決與華人家族企業的擁有權和控制權是否遭受威脅。如果擁有權和控制權不受影響，現代化的改革則得以實施，不然將仍然保留傳統的模式。現代化並非單純的零和模式，因此許多華人家族企業是現代與傳統的混合體。 / 由於與政治界缺乏有效的方式與溝通，南洋與簡氏家族都不可避免地受到政府的影響，無力拒絶政府的要求並為他們自己爭取更好的機會。如同民國時期其他商人與企業，當中國出現大一統政府時，他們就無法取得比較好的機會與待遇。 / 本研究也為華人家族企業指出了四個新理論。第一，當華人家族企業為股份公司時，其擁有權將影響其控制權。第二，家族成員、親戚與鄉親可進入公司，但他們的地位取決於其貢獻與表現，以及他們與家族的關係。第三，華人家族企業的現代化，取決於家族是否可保有對公司的擁有權和控制權。第四 ，企業家精神有時對公司不是好處，而是壞處。 / The thesis is a research based on a case study of the inter-relation of a Chinese family firm and a Chinese family: the Nanyang Brothers Tobacco Company and the Jian family. The article will be discussing on the rationale and practices that influence a firm on its ownership, authority, operations and developments; In addition, the ground of these influences towards its family growth, expansion, connection with other families, eventually leading to a lineage evolution. / Throughout the study, I have indicated that the Jian family is a small family. Hence, most of its members have to rely on their paternal and maternal relatives, or the Cantonese fellows to operate Nanyang. In the beginning stage, this group of family members could obtain a position in Nanyang through relationship with the Jian family. However, their career paths in Nanyang are subject to their performances and the changes of relationship with the Jian family at some point in the future. / In spite of ample working experience gained in overseas, most members from the Jian family did not learn about modernization through academic choice. Notwithstanding the evidence that the Jian family has introduced the modern skills and technology into the process of Nanyang’s manufacturing and management, it is unlikely that the authority could forgo the conventional methodology in order to adapt to the advanced formulas. Over and above that, this group of family members regards this phenomenon as a disadvantage towards their position in Nanyang. The threat level of present authority and ownership determines the success rate of the evolution within a Chinese family firm. Modernization could be realized if only the present authority were not affected. However, the evolution within a firm is not a zero-sum game. And therefore, many of the Chinese family firms adapt to the integration of modern and conventional management approach. / The lack of communication efficiency between the local government and Jian family, as well as Nanyang is the fundamental of its political position. Due to its political positioning, Nanyang unavoidably faces difficulties in declining requests from the government and to strive for greater opportunities. Like any other merchants during the Republican Era of China, they could not gain a better treatment under these circumstances. / The research indicated four principles for these Chinese family firms. Firstly, when a Chinese family firm is also a stock corporate at the same time, its ownership of the company’s share will directly impact on its individual authority. Secondly, family members, relatives, and fellows could achieve an easy entry into a Chinese family firm based on its relationship. However, the career paths in the firm are subject to their individual performances and the relationship with the family. Thirdly, the threat level of present authority and ownership determines the success rate of the evolution within a Chinese family firm. Modernization could be realized if only the present authority were not affected. Otherwise, modernization will be denied at the initial stage. Lastly, entrepreneurship is a double-edged sword. It allows a firm to unleash its greatness; or, a significant drawback. / Detailed summary in vernacular field only. / Detailed summary in vernacular field only. / Detailed summary in vernacular field only. / Detailed summary in vernacular field only. / Detailed summary in vernacular field only. / Chong, Henry Ren Jie. / Thesis (Ph.D.) Chinese University of Hong Kong, 2015. / Includes bibliographical references (leaves 277-292). / Abstracts also in Chinese.

China is a country built on traditions and one of its most respected traditions is a preference for the family unit. The closeness of the family unit is carried over into the economic life of the country. Family members not only live together, but also work together in the fields or in enterprises. The advantage of this is that families have a guaranteed labour force that is not only loyal and can also be trusted. The disadvantage however is that positioning within the business is not always based on merit and competence, or trustworthiness which can ultimately impede growth. This research was an examination of Chinese family-owned businesses that focused on their management practices. The purpose of the study was to explore the management characteristics of Chinese family-owned businesses by means of interview data collected from five Chinese businesses in the Cape Metropolitan area. The emphasis of the project concentrated on the establishment, expansion and growth, ownership and leadership, management structure, the impact of cultural factors and the strategy for the future as well as challenges in terms of competitors and environments.

Thesis (Ph.D.)--Mississippi State University. Department of Management and Information Systems. / Title from title screen. Includes bibliographical references.

Lorsque l’on évoque les entreprises familiales et leurs transmissions, une série d’images viennent à l’esprit, qui mêlent famille, patrimoine et dynastie. Suivant cette "mythologie" de sagas familiales et suivant cette idée que l’entreprise est, pour la famille qui la possède et la gère, à la fois un moyen de production et un moyen d’existence matérielle et symbolique, on en vient à nourrir l’idée que dans la "famille en entreprise" la fusion entre celle-là et celle-ci est telle que ses membres doivent avoir à cœur de transmettre l’entreprise, de la faire durer et d’ainsi faire durer la famille. Or, il s’avère que c’est loin d’être le cas: la transmission de l’entreprise au sein de la famille est une possibilité qui suscite peu d’adhésion. <p>Ce constat soulève de nombreuses questions, que nous avons plus spécifiquement posées aux petites PME. Comment les parents sont-ils "disposés" face à cette possibilité de transmettre l’entreprise à leurs enfants? Quelle place ceux-ci donnent-ils à l’entreprise dans leurs projets? Quel regard les familles en PME portent-elles sur le futur de leur entreprise? Comment, par les idiosyncrasies familiales, l'environnement économique et le contexte social, expliquer les faveurs et défaveurs que reçoit l’idée de transmission? C’est à ces interrogations que cette thèse entend répondre, en explorant le passé et le présent de douze PME et des familles qui les portent, douze "cas" nourris par une approche qualitative, triangulaire, transfamiliale et multigénérationnelle. / Doctorat en sciences sociales, Orientation sociologie / info:eu-repo/semantics/nonPublished

Magister Commercii - MCom / China is a country built on traditions and one of its most respected traditions is a preference for the family unit. The closeness of the family unit is carried over into the economic life of the country. Family members not only live together, but also work together in the fields or in enterprises. The advantage of this is that families have a guaranteed labour force that is not only loyal and can also be trusted. The disadvantage however is that positioning within the business is not always based on merit and competence, or trustworthiness which can ultimately impede growth. This research was an examination of Chinese family-owned businesses that focused on their management practices. The purpose of the study was to explore the management characteristics of Chinese family-owned businesses by means of interview data collected from five Chinese businesses in the Cape Metropolitan area. The emphasis of the project concentrated on the establishment, expansion and growth, ownership and leadership, management structure, the impact of cultural factors and the strategy for the future as well as challenges in terms of competitors and environments. / South Africa

In the 21st century, family businesses around the world face significant challenges and plentiful opportunities. The growth and survival of family firms depends on their ability to address these challenges, capitalise on their strengths, and take advantage of the opportunities facing them. The family business literature is rich in the experiences of Americans, Koreans, Swedes and many other nationalities, cultures and religions around the world, but there is a paucity of documented evidence that relates to the Arab world. This study adds a new and important specific contribution to the literature by addressing the field of family businesses in the Arab world, and Abu Dhabi in particular. The thesis concentrates on large family firms which have their headquarters in Abu Dhabi in the United Arab Emirates. The main reason for this choice is pragmatic; the researcher has far greater access to the principals (CEO’s and Chairmen in particular) of Abu Dhabi based family firms than those headquartered elsewhere. This thesis identifies major themes which will influence the future development of family firms in Abu Dhabi in the medium term (taken to mean up to 2030, the period covered by the Abu Dhabi Vision). The research design chosen is an exploratory one. It does not seek to make predictions concerning the future of family firms in Abu Dhabi but attempts to explain the phenomenon of family firms in Abu Dhabi to the extent that explanation helps shed light on possible alternative strategies which such firms might need to adopt if they are to continue to prosper. The research relies heavily on expert interviews. Such a strategy is warranted by the dearth of published data of any sort. This research also makes a useful contribution to our understanding of family firms in general. By concentrating on a hitherto under-researched context, the study adds to our overall understanding by broadening the range of comparative studies of family firms which are available to other researchers.

published_or_final_version / Business / Doctoral / Doctor of Philosophy

published_or_final_version / Modern Languages and Cultures / Master / Master of Philosophy