Studies On The Institutional Restraint Of Sustainable Development Of The Family Business In China

Family business is not only a form of business organization in the changeprocess in the long history of the world economy, which has long been a people’schoice of system, and it become the prevalence in the world. Both in developed anddeveloping countries, the family business occupies a very important position in thecountry’s economy occupies. Since the reform and opening up, China’s privateeconomy has grown. The family business as an important subset of the privateeconomy in China has become the lifeblood of Chinese economic growth. However,the face of fierce competition in the international market under the economicglobalization, sustainable development of China’s family business become a seriousproblem. Therefore, for the sustainable development of family business research hasimportant theoretical and practical significance.On the basis of absorbing foreign scholars on this article from the perspective ofinstitutional economics conducted on both define the concept that the family businessis a system choice; sustainable development of the family business is throughconstant innovation system to reach people, resources, environmentalharmony.There are five chapters in this paper:Chapter one is the introduction. Firstly, this chapter discussed the selected topic’background and significance; secondly, it expounded and analyzed the researchachievements in domestic and overseas; thirdly, it described the research content andvenation; lastly, it pointed out the innovation and imperfections.The second chapter summarized the definition of the family business content,discussed the development and characteristics of China’s main contribution to the family, summarized, connotation and classification system as the basis of logicalanalysis and analyzed some theoretical basis.The third chapter discusses the current obstacles of formal and informal systemof sustainable development in our family business.The fourth chapter reviewed the development status of foreign enterprises andFamily Experience, analyzed the model the United States, Germany and Italy, as therepresentative of Europe, Japan and South Korea and other countries familyenterprise development, by combing foreign family business development model,summarized conducive to the development of our family business experience.The fifth chapter suggested to promote healthy development of the familybusiness. These recommendations are mainly for the existence of a family businessand institutional restraint raised.This article sought to objectively reflect in the study of family business in thisparticular economic phenomena and developments, it made an innovation to analyzethe current institutional restraint of sustainable development of family businessprocess exists not only informal institutional culture the concept of intergenerationalconflict and other restraint, but also the political, policy, legal and marketenvironment inside the family business and family business governance mechanismsexternal obstacles facing obstacles such as a formal system. But because of theauthor’s limited ability and hardship of searching relevant data material for ourresearching is so late, these made the paper lake of quantify and chart, and it isweakat the depth of researching. Although these are the shortage of this paper, these canalso be the direction of research in the future.