Intergenerational Transmission Mode For The Family Business

Family-owned businesses, which play very important role in social and economical development, are the immanent organizational form of businesses all over the world. Transferring the leadership from fathers to sons is very common in family-owned businesses, for this kind of succession has a deep culture-foundation, especially in our country.Under the guide of classical theories of the three-circle model and the stakeholder theory, This thesis explores the factors that affect the decision-making of offspring about joining the family-owned businesses or not, the factors that improve the main stakeholders' perceived satisfaction of the succession process and post-transition performance of business, and the factors that impact the succession planning.Chapter 1: Preface. Based on the logical thinking from macro to micro and the facts that commonly exist in family-owned businesses, we summarize three problems in dire need of settlements according to a series structured interviews. Specifically, these three problems are about property rights, governance structure and leadership succession. Based on the foundation, we put forward our research topic梩he model of intergenerational transition in family-owned businesses.Chapter 2: Literature review on intergenerational transition in family-owned businesses. In this chapter, we discuss deeply the two concepts, family-owned businesses and intergenerational transition, then we do a review of the researches on intergenerational transition, thereby we put forward the theoretical framework of this thesis. That is, under the clue of the theory of family life cycles in the three-circle model of family-owned businesses, we study the crucial sectors of intergenerational transition in family-owned businesses. Meanwhile, under the guide of the stakeholder theory and relative theories of behavior science, we explore the interior dynamic mechanisms of these crucial sectors.Chapter 3: The economical explanation of intergenerational transition. In this chapter, based on the resource-based approach, principle-agency theory and contract theory, we expound the economical evidences that commonly exist in the model of intergenerational transition in family-owned businesses.Chapter 4: Traditional culture and intergenerational transition. In this chapter, wetry to investigate the specific relationship between the traditional culture and intergenerational transition in Chinese family-owned businesses and reveal the cultural evidences of the intergenerational transition in Chinese family-owned businesses theoretically and empirically. The study manifests that there are five independent factors in the orientation of family culture. They are charitable-leadership orientation, grade-trust orientation, bringing-honour-to-one's-ancestors orientation, personal-authority orientation and repaying-an-obligation orientation. At the same time, the study finds that there are three dimensions appraising the management model of family-owned businesses, namely, family-like management, open management and intergenerational transition of social resources.In fact, in chapter 3 and 4, we analyze and investigate deeply the economical and cultural evidences of the intergenerational transition in Chinese family-owned businesses. The purpose to do this is to prove that the existence of family-owned businesses and the intergenerational transition is coincident with the phase of social and economical development, and Chinese traditional culture. Based on the analysis, we can give family-owned businesses and the intergenerational transition a more objective and dialectic view. Therefore, it shows that the research behind is very important and necessary.Chapter 5: The join of offspring and intergenerational transition. It is the logical start of intergenerational transition that offspring join in family-owned businesses. So there is no meaning to discuss the intergenerational transition in family-owned businesses without the offspring's join. In this part of study, taking the university students of 18 to 28 years old, who are the...