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The Professionally Managed Family‐ruled Enterprise: Ethnic Chinese Business in Singapore

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  • Lai Si Tsui‐Auch

Abstract

ABSTRACT This study identifies the change and continuity in the management structure of Singaporean Chinese family businesses before and after the Asian currency crisis based on an interpretive content analysis of oral history transcripts, personal interviews, documentary research and a historical analysis of Singapore's economy and society. It shows that large businesses shifted from being ‘family‐ruled and managed’ to becoming ‘professionally managed family‐ruled’ businesses before the crisis. Since the crisis, however, Chinese businesses in sectors that are under the watch of the developmental state, that face increasing competition from Western corporations, and lack offspring who are competent and interested in running family enterprises have loosened family rule. Businesses in sectors that are free from the direct intervention of the state, that seek survival in negative market situations, and have trusted and competent offspring to harness the advantage of the family enterprise have maintained family rule. Based on the findings, the author offers an explanatory and predictive model that takes into account the roles of markets, institutions (including culture and the state) and key corporate actors. The study concludes with suggestions for future research into the management structures of professionally managed family businesses and the role of the state.

Suggested Citation

  • Lai Si Tsui‐Auch, 2004. "The Professionally Managed Family‐ruled Enterprise: Ethnic Chinese Business in Singapore," Journal of Management Studies, Wiley Blackwell, vol. 41(4), pages 693-723, June.
  • Handle: RePEc:bla:jomstd:v:41:y:2004:i:4:p:693-723
    DOI: 10.1111/j.1467-6486.2004.00450.x
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    Cited by:

    1. Andrea Dello Sbarba & Alessandro Marelli, 2018. "Family-controlled businesses and management control: the framing of “shareholder-oriented” practices," Journal of Management Control: Zeitschrift für Planung und Unternehmenssteuerung, Springer, vol. 28(4), pages 417-456, February.
    2. Worek, Maija & De Massis, Alfredo & Wright, Mike & Veider, Viktoria, 2018. "Acquisitions, disclosed goals and firm characteristics: A content analysis of family and nonfamily firms," Journal of Family Business Strategy, Elsevier, vol. 9(4), pages 250-267.
    3. Emma Su & Michael Carney, 2013. "Can China’s family firms create intellectual capital?," Asia Pacific Journal of Management, Springer, vol. 30(3), pages 657-675, September.
    4. Toru Yoshikawa & Lai Si Tsui-Auch & Jean McGuire, 2007. "Corporate Governance Reform as Institutional Innovation: The Case of Japan," Organization Science, INFORMS, vol. 18(6), pages 973-988, December.
    5. Martin R.W. Hiebl & Zhen Li, 2020. "Non-family managers in family firms: review, integrative framework and future research agenda," Review of Managerial Science, Springer, vol. 14(4), pages 763-807, August.
    6. Blanco-Mazagatos, Virginia & de Quevedo-Puente, Esther & Delgado-García, Juan Bautista, 2018. "Human resource practices and organizational human capital in the family firm: The effect of generational stage," Journal of Business Research, Elsevier, vol. 84(C), pages 337-348.
    7. Salvatore Sciascia & Pietro Mazzola & Joseph Astrachan & Torsten Pieper, 2012. "The role of family ownership in international entrepreneurship: exploring nonlinear effects," Small Business Economics, Springer, vol. 38(1), pages 15-31, January.
    8. Xiaoke Zhang, 2020. "The institutional structuring of innovation policy coordination: theory and evidence from East Asia," Policy Sciences, Springer;Society of Policy Sciences, vol. 53(1), pages 101-138, March.
    9. Hoorani, Bareerah Hafeez & Plakoyiannaki, Emmanuella & Gibbert, Michael, 2023. "Understanding time in qualitative international business research: Towards four styles of temporal theorizing," Journal of World Business, Elsevier, vol. 58(1).
    10. Marc Essen & J. Oosterhout & Michael Carney, 2012. "Corporate boards and the performance of Asian firms: A meta-analysis," Asia Pacific Journal of Management, Springer, vol. 29(4), pages 873-905, December.
    11. Michael Carney & Eric Gedajlovic & Xiaohua Yang, 2009. "Varieties of Asian capitalism: Toward an institutional theory of Asian enterprise," Asia Pacific Journal of Management, Springer, vol. 26(3), pages 361-380, September.
    12. Ramos, Hazel Melanie & Man, Thomas Wing Yan & Mustafa, Michael & Ng, Zuie Zuie, 2014. "Psychological ownership in small family firms: Family and non-family employees’ work attitudes and behaviours," Journal of Family Business Strategy, Elsevier, vol. 5(3), pages 300-311.
    13. Carney, Michael & Zhao, Jing & Zhu, Limin, 2019. "Lean innovation: Family firm succession and patenting strategy in a dynamic institutional landscape," Journal of Family Business Strategy, Elsevier, vol. 10(4).
    14. H. Yeung, 2006. "Change and Continuity in Southeast Asian Ethnic Chinese Business," Asia Pacific Journal of Management, Springer, vol. 23(3), pages 229-254, September.
    15. Eric W. K. Tsang, 2020. "Family firms and internationalization: An organizational learning perspective," Asia Pacific Journal of Management, Springer, vol. 37(1), pages 205-225, March.
    16. Marleen Dieleman, 2010. "Shock-imprinting: External shocks and ethnic Chinese business groups in Indonesia," Asia Pacific Journal of Management, Springer, vol. 27(3), pages 481-502, September.
    17. Dawson, Alexandra, 2012. "Human capital in family businesses: Focusing on the individual level," Journal of Family Business Strategy, Elsevier, vol. 3(1), pages 3-11.

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