跳至主要内容

The Theoretical Analysis of the Allocation of Family Control Rights Based on Guanxi in China

Read full paper at:
http://www.scirp.org/journal/PaperInformation.aspx?PaperID=50574#.VECrn1fHRK0

Author(s)  
With the development of the family businesses, family members are coming from diversified source. Under this circumstance, guanxi and potential conflicts between family members are becoming complicated. The allocation of control rights among the family members plays an important role. This paper proposes the allocation concept of the family guanxi-oriented control rights for the first time. On the basis of the review of classical theories about the control rights allocation, it builds a theoretical analysis framework of family control rights allocation embedding guanxi.
Cite this paper
Gu, L. (2014) The Theoretical Analysis of the Allocation of Family Control Rights Based on Guanxi in China. Open Journal of Business and Management, 2, 314-320. doi: 10.4236/ojbm.2014.24037
 

[1] Mustakallio, M., Autio, E. and Zahra, S.A. (2002) Relational and Contractual Governance in Family Firms: Effects on Strategic Decision Making. Family Business Review, 16, 205-222.
http://dx.doi.org/10.1111/j.1741-6248.2002.00205.x
[2] Jensen, M. and Meckling, W.H. (1976) The Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3, 305-360.
http://dx.doi.org/10.1016/0304-405X(76)90026-X
[3] Fama, E.F. and Jensen, M.C. (1983) Separation of Ownership and Control. Journal of Law and Economics, 26, 327-349. http://dx.doi.org/10.1086/467038
[4] Ang, J.S., Cole, R.A. and Lin, J.W. (2000) Agency Costs and Ownership Structure. Journal of Finance, 55, 81-106.
http://dx.doi.org/10.1111/0022-1082.00201
[5] Eddleston, K.A. and Kellermanns, F.W. (2007) Destructive and Productive Family Relationships: A Stewardship Theory Perspective. Journal of Business Venturing, 22, 545-565.
http://dx.doi.org/10.1016/j.jbusvent.2006.06.004
[6] Daily, C.M. and Dollinger, M.J. (1992) An Empirical Examination of Ownership Structure in Family and Professionally-Managed Firms. Family Business Review, 5, 117-136.
http://dx.doi.org/10.1111/j.1741-6248.1992.00117.x
[7] Ralph, C. and Connel, F. (1997) The Market Value of Family Values. CATO Journal, 16, 339.
[8] O’Donoghue, T. and Rabin, M. (2000) The Economics of Immediate Gratification. Journal of Behavioral Decision Making, 13, 233-250.
http://dx.doi.org/10.1002/(SICI)1099-0771(200004/06)13:2<233::AID-BDM325>3.0.CO;2-U
[9] Karra, N., Tracey, P. and Phillips, P. (2006) Altruism and Agency in the Family Firm: Exploring the Role of Family, Kinship, and Ethnicity. Entrepreneurship Theory and Practice, 30, 861-878.
http://dx.doi.org/10.1111/j.1540-6520.2006.00157.x
[10] Chrisman, J.J., Chua, J.H. and Litz, R. (2004) Comparing the Agency Costs of Family and Non-Family Firms: Conceptual Issues and Exploratory Evidence. Entrepreneurship Theory and Practice, 28, 335-353. http://dx.doi.org/10.1111/j.1540-6520.2004.00049.x
[11] Schulze, W.S., Lubatkin, M.H. and Dino, R.N. (2003) Exploring the Agency Consequences of Ownership Dispersion among the Directors of Private Family Firms. Academy of Management Journal, 46, 179-194. http://dx.doi.org/10.2307/30040613
[12] He, X.G., Lian, Y.L., Li, J. and Mei, L. (2010) Kinship’s Effects on Family Firms’ Growth: An Empirical Study in China. China Industrial Economics, 1, 135-146.
[13] Benson B., Crego, E. and Drucker, R.H. (1990) Your Family Business: A Success Guide for Growth and Survival. Dow Jones-Irwin, Homewood.
[14] Johannisson, B. and Huse, M. (2000) Recruiting Outside Board Members in the Small Family Business: An Ideological Challenge. Entrepreneurship & Regional Development, 12, 353-378.
http://dx.doi.org/10.1080/08985620050177958
[15] Gersick, K.E., Davis, J.A., Hampton, M.M. and Lansberg, I. (1997) Generation to Generation: Life Cycle of the Family Business. Harvard Business School Press, Boston.
[16] Chu, X.P. (2002) Professional Manager and the Growth of Family Enterprises. Management World, 4, 100-108, 147.
[17] Zhang, Y.H. (2003) The Research on the Evolution of Family Business Control Rights. Science-Technology and Managemen, 4, 80-81, 84.
[18] Guo, Y.Y. and Miao, R. (2010) The Choice of Family Business Control Rights. Enterprise Management, 90-91.
[19] Lei, Y.Y. (2009) Study of the Influence Factors of Family Business Control Rights Allocation. Journal of Shanxi Science and Technology, 4, 8-10.
[20] Wang, B., Liu, Y.G. and Zeng, C.H. (2011) The Influence of Trust to the Controlling Rights Allocation. Economic Studies, 1, 49-56.
[21] Yang, G.F. (2009) The Relationship Governance and Its Evolution in Family Businesses: A Case Study of Zhejiang Yixing Group. Social Sciences Academic Press, Beijing, 22, 37.
[22] Weber, M. (1995) Konfuzianismus und Taoismus. The Commercial Press, Beijing, 289.
[23] Fei, X.T. (1984) Rural China. Shanghai SDX Joint Publishing Company, Shanghai, 25.                                          eww141017lx

评论

此博客中的热门博文

A Comparison of Methods Used to Determine the Oleic/Linoleic Acid Ratio in Cultivated Peanut (Arachis hypogaea L.)

Cultivated peanut ( Arachis hypogaea L.) is an important oil and food crop. It is also a cheap source of protein, a good source of essential vitamins and minerals, and a component of many food products. The fatty acid composition of peanuts has become increasingly important with the realization that oleic acid content significantly affects the development of rancidity. And oil content of peanuts significantly affects flavor and shelf-life. Early generation screening of breeding lines for high oleic acid content greatly increases the efficiency of developing new peanut varieties. The objective of this study was to compare the accuracy of methods used to classify individual peanut seed as high oleic or not high oleic. Three hundred and seventy-four (374) seeds, spanning twenty-three (23) genotypes varying in oil composition (i.e. high oleic (H) or normal/not high oleic (NH) inclusive of all four peanut market-types (runner, Spanish, Valencia and Virginia), were individually tested ...

Location Optimization of a Coal Power Plant to Balance Costs against Plant’s Emission Exposure

Fuel and its delivery cost comprise the biggest expense in coal power plant operations. Delivery of electricity from generation to consumers requires investment in power lines and transmission grids. Placing a coal power plant or multiple power plants near dense population centers can lower transmission costs. If a coalmine is nearby, transportation costs can also be reduced. However, emissions from coal plants play a key role in worsening health crises in many countries. And coal upon combustion produces CO 2 , SO 2 , NO x , CO, Metallic and Particle Matter (PM10 & PM2.5). The presence of these chemical compounds in the atmosphere in close vicinity to humans, livestock, and agriculture carries detrimental health consequences. The goal of the research was to develop a methodology to minimize the public’s exposure to harmful emissions from coal power plants while maintaining minimal operational costs related to electric distribution losses and coal logistics. The objective was...

Evaluation of the Safety and Efficacy of Continuous Use of a Home-Use High-Frequency Facial Treatment Appliance

At present, many home-use beauty devices are available in the market. In particular, many products developed for facial treatment use light, e.g., a flash lamp or a light-emitting diode (LED). In this study, the safety of 4 weeks’ continuous use of NEWA TM , a high-frequency facial treatment appliance, every alternate day at home was verified, and its efficacy was evaluated in Japanese individuals with healthy skin aged 30 years or older who complained of sagging of the facial skin.  Transepidermal water loss (TEWL), melanin levels, erythema levels, sebum secretion levels, skin color changes and wrinkle improvement in the facial skin were measured before the appliance began to be used (study baseline), at 2 and 4 weeks after it had begun to be used, and at 2 weeks after completion of the 4-week treatment period (6 weeks from the study baseline). In addition, data obtained by subjective evaluation by the subjects themselves on a visual analog scale (VAS) were also analyzed. Fur...