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ID:
163321
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| Summary/Abstract |
This paper addresses the long debate over the superiority of the performance of family- vs non-family-controlled companies from the contesting perspectives of entrepreneurial familism and managerial capitalism. Publicly listed family- and non-family-controlled companies in Hong Kong have been selected for a comparison of their overall performance. The focus is on Hang Seng Index constituent companies in general, and on two cases in particular: one non-family-controlled bank (HSBC), and one family-controlled bank (BEA). We found that family-controlled companies were not necessarily less competitive than non-family-controlled companies. Specifically, when HSBC and BEA were compared, the latter showed no clear inferiority in operating profit margin and return on assets, even though the former enjoys unparalleled advantages, such as an overwhelming superiority in size, the privilege of issuing notes, and status as Hong Kong’s quasi-central bank. Therefore, we argue that entrepreneurial familism seems to be a resilient source of business dynamism, particularly when family-controlled companies have been repeatedly tested by adverse socioeconomic crises. Based on the finding, it is suggested that governments across the world should provide a favorable institutional set-up to facilitate the development of family businesses.
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| 2 |
ID:
122931
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| Publication |
2013.
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| Summary/Abstract |
This article focuses on the lived experiences of people who have moved to Zouping, a rapidly urbanising city in Shandong Province. It argues that the variety of their experiences reveals much about Chinese processes of urbanisation. Recent writing on Chinese urbanisation often portrays a sharp social break with rural experience. This article discusses the variable degrees of continuity with rural pasts that different groups of new urbanites experience. It presents Zouping as an intermediate case of Chinese urbanisation, illustrating aspects of both migrant and in situ development, and also argues for the importance of attention to divergent examples of lived experiences, which often blend or transcend the ideal types presented in models of urban experience.
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