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Family Business Groups in Advanced Asian Economies and the Politics of Institutional Trust

In: The Palgrave Handbook of Managing Family Business Groups

Author

Listed:
  • Michael Carney

    (Concordia University)

  • Zhixiang Liang

    (York University)

Abstract

Family business groups in advanced Asian economies have demonstrated considerable entrepreneurial and technological dynamism. However, they have remained conservative in their corporate governance practice. Specifically, they retain corporate governance practices considered to be anachronistic in the modern era. We review State projects to establish market supporting institutions in three advanced Asian economies, China, Korea, and Malaysia. We argue that low levels of institutional trust encourage family business groups to retain personal rule and opaque governance structures as a defence mechanism against political uncertainty and weak principal-agent relationships.

Suggested Citation

  • Michael Carney & Zhixiang Liang, 2023. "Family Business Groups in Advanced Asian Economies and the Politics of Institutional Trust," Springer Books, in: Marita Rautiainen & Maria José Parada & Timo Pihkala & Naveed Akhter & Allan Discua Cruz & Kajari Mu (ed.), The Palgrave Handbook of Managing Family Business Groups, chapter 0, pages 241-265, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-13206-3_10
    DOI: 10.1007/978-3-031-13206-3_10
    as

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