CHINESE FAMILY BUSINESSES: A SYSTEMATIC LITERATURE REVIEW GOVERNANCE, SUCCESSION, AND CULTURE
Keywords:
Chinese Family Business, Governance, Succession, CultureAbstract
Chinese family businesses (cfbs) represent a significant segment of the global economy, particularly in Asia. This systematic literature review aims to synthesize research findings on governance, succession, and cultural influences in cfbs. The study examines the unique characteristics of cfbs, including their reliance on Confucian values, the prioritization of familial trust, and the integration of traditional cultural norms into modern business practices. Key themes include governance mechanisms balancing family control with professional management, succession planning amidst generational shifts, and the role of culture in shaping decision-making and interpersonal relationships. The review highlights challenges such as nepotism, resistance to external professionalization, and intergenerational conflicts. Finally, it provides insights into how cfbs adapt to globalization and evolving economic environments while maintaining their cultural identity. Future research directions are proposed to address gaps in understanding the dynamic interplay between tradition and innovation in cfbs.
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