Familial capitalism in global institutional contexts: Implications for corporate governance and entrepreneurship in East Asia
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- Steier, L.P. Asia Pac J Manag (2009) 26: 513. doi:10.1007/s10490-008-9117-0
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Many of the world’s firms have a familial dimension; including some of the most dynamic and emerging markets of East Asia. However, this important aspect of organizing economic activity remains understudied and misunderstood. A central theme of this article is that while families matter in economic activity throughout the world, they matter in different ways depending on the institutional context. To illustrate this theme a varieties of capitalism perspective is used to develop a rudimentary global comparative framework. Institutional context is portrayed as a key determinant of the degree and type of family governance that typify national economies. Implications for corporate governance and entrepreneurship in East Asia are discussed.