Abstract
There is a popular Chinese adage, The first generation lays the foundation for a thriving business; the second builds on it; the third squanders it. This adage highlights the enduring problem of succession in Chinese family businesses. The essay explores the negative or dysfunctional side of Chinese family business. It suggests that the very factors that help account for the success of Chinese firms, personalism and centralized control, contain the seeds for the eventual disintegration of the family business. Using three case studies, CB Bank, Kong Construction, and Yeo Hiap Seng, the chapter shows how family disputes involving wives, secondary wives, and daughters-in-law and sibling rivalries can lead to issues of conflicts and inheritance after the demise of the founding patriarch of the family business. The dependence of family and kin, while advantageous for the business, does carry with it burdensome obligations, leveraging towards the dark side. © 2014 Springer Science+Business Media Singapore. All rights are reserved.
| Original language | English |
|---|---|
| Title of host publication | Chinese Business: Rethinking Guanxi and Trust in Chinese Business Networks |
| Publisher | Springer Singapore |
| Pages | 77-95 |
| Volume | 9789814451857 |
| ISBN (Print) | 9789814451857, 9814451843, 9789814451840 |
| DOIs | |
| Publication status | Published - 1 May 2014 |
| Externally published | Yes |
Bibliographical note
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