Study On The Intergenerational Transmission Of Family Enterprises In Quanzhou

At the beginning of the reform and opening-up, under the guidance of nationalpolicy, the innovative Quanzhou people, promoting their spirit of "lovecombating and dare to win", found a large number of family enterprises whichform a distinctive "Quanzhou mode" with the unique geographical advantage andthe developed advantages in relationships from Hong Kong, Macao and overseasregion. Over the past20to30years, most of family enterprises in Quanzhou,maturing and developing, have made a significant contribution to Quanzhoueconomic development. But we should clearly recognize that those familyenterprises also are facing the burning problems of property rights, governancestructure, management system and intergenerational transmission in their rapiddevelopment. The problem of intergenerational transmission is one of the mostsignificant and emergent strategic issues. Whether the inheritance of power issmooth or not has become an important strategic issue related to the survival offamily enterprises in Quanzhou.Nowadays, the first-generation entrepreneurs of the family enterprises inQuanzhou have mostly entered their50s and over the next10to20years will bethe peak of intergenerational transmission of those enterprises, which also meansthe coming of intergenerational transmission of Quanzhou family business. Inthis context, more than100,000family enterprises in Quanzhou with differentscales have to face the shadow of “Clogs to clogs is only three generations”shrouded in those family businesses. How to get out of this shadow, andsuccessfully resolve the problem about the inheritance of power? Where is theroad of family businesses in Quanzhou to achieve their new undertaking? Thoseissues have gradually become one of the focuses in the academia and theQuanzhou business community.To promote the sustainable development of Quanzhou family enterprises, thispaper bases on those enterprises, analyzes the problems existing in theintergenerational transmission of family enterprises in Quanzhou, trying to figureout the appropriate countermeasures to help those enterprises successfully toachieve their intergenerational transmission on the study of those problems. This article mainly analyzes the subject from the following three aspects:Firstly, on the basis of the literature about the inheritance of family business athome and abroad, the paper sums up the research findings of other scholars onthe inheritance of family business, draws out the direction of the study, andmakes clear its significance.Secondly, from the empirical study of Quanzhou family business, this paperhas a more detailed study on the intergenerational transmission of Quanzhoufamily business and analyzes its problems, and probes into the reasons for thoseproblems. Subsequently, to use the questionnaires, the article is to make a furthervalidation to those problems through the previously obtained data.Finally, on the basis of the main inheriting mode of Quanzhou family business,that is "inherited his father’s" mode and the former analysis, the paper proposesthe model of the intergenerational transmission of family enterprises inQuanzhou preliminarily. Through analyse and proof the model, it illustrates theselection and training process of their successors, and puts forward two roadmaps of the inheriting mode of Quanzhou family business functioning effectively,which, to a certain extent, provides some ideas for the future development ofQuanzhou family business, along with the early realization of its secondpioneering.