Title: The evolution of family business in China: an institutional perspective

Authors: Yong Wang; Rong Pei; Yanhong Liu

Addresses: Department of Finance, Accounting, Systems, and Economics, Wolverhampton Business School, University of Wolverhampton, Wolverhampton, WV1 1AD, UK ' Department of Business Administration, School of Management and Economics, Beijing Institute of Technology, Beijing 100081, China ' International Office, Beijing Institute of Technology, Beijing 100081, China

Abstract: This paper investigates the emerging family business sector in China. Specifically, the objectives of the paper are threefold: (a) to explore how family businesses are catalysed by structural changes in the socio-economic environment; (b) to examine policy initiatives sketched by the government in supporting family firms; and (c) to analyse the impact of extant policies on family business development. An explorative methodology is adopted where secondary data pertaining to family business emergence and development are employed. The paper claims that notwithstanding the economic reform in the past three decades has galvanised gigantic momentum from the private sector, new tailored policy initiatives are required to uphold the entrepreneurial impetus. With the service of prudently contemplated policies, the entrepreneurial venturing may lead to more success.

Keywords: family businesses; private economy; institution; government policy; policy initiatives; family firms; China; structural changes; socio-economics; government support; business development; entrepreneurial impetus; entrepreneurship; entrepreneurial venturing.

DOI: 10.1504/IJMP.2014.061472

International Journal of Management Practice, 2014 Vol.7 No.2, pp.89 - 107

Published online: 26 May 2014 *

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