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

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The Palgrave Handbook of Managing Family Business Groups

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.

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Authors and Affiliations

  1. John Molson School of Management, Concordia University, Montreal, QC, Canada

    Michael Carney

  2. School of Administrative Studies, York University, Toronto, ON, Canada

    Zhixiang Liang

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  1. Michael Carney
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  2. Zhixiang Liang
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Correspondence to Zhixiang Liang .

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Editors and Affiliations

  1. School of Engineering Science, LUT University, Lahti, Finland

    Marita Rautiainen

  2. Department of Strategy and General Management, ESADE Business School, Sant Cugat del Vallès, Spain

    Maria José Parada

  3. School of Engineering Science, LUT University, Lahti, Finland

    Timo Pihkala

  4. Jönköping International Business School (JIBS), Jönköping, Sweden

    Naveed Akhter

  5. Department of Entrepreneurship and Strategy, Lancaster University Management School, Lancaster, UK

    Allan Discua Cruz

  6. Department of Organisation Behavior and Human Resources Management, Indian Institute of Management Indore (IIM), Indore, India

    Kajari Mukherjee

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Carney, M., Liang, Z. (2023). Family Business Groups in Advanced Asian Economies and the Politics of Institutional Trust. In: Rautiainen, M., Parada, M.J., Pihkala, T., Akhter, N., Discua Cruz, A., Mukherjee, K. (eds) The Palgrave Handbook of Managing Family Business Groups. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-13206-3_10

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