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Article: Inheritance, Chinese Family Business and Economic Development in Hong Kong

TitleInheritance, Chinese Family Business and Economic Development in Hong Kong
Authors
Issue Date2002
PublisherWorld Scientific Publishing Co Pte Ltd. The Journal's web site is located at http://www.worldscinet.com/jec/jec.shtml
Citation
Journal of Enterprising Culture, 2002, v. 10 n. 4, p. 287-312 How to Cite?
AbstractThis paper focuses on the study of inheritance, Chinese family business and economic development in Hong Kong. In this study, it is found that equal inheritance can assist economic development by generating competition and capital. Equal division is a criterion for sibling comparison. Comparison generates stress and anxiety with each son trying to outdo the other. Competition is therefore galvanized. Furthermore, initial capital that is released from partition can motivate sons, who want to be free from subjugation, to start their own business. This is the origin of the self-employment mentality. Both competition and capital are crucial factors for economic development to take place. The strong desire of self-employment mentality also drives Chinese family business to develop its own type of structure: jia-zu ji-tuan [family-based consortium]. Different family members can be diversified into different businesses or professions. These businesses or professions may or may not relate to each other. However, they maintain a certain level of interconnection under the banner of the family [jia-zu] and can support each other during time of crises and difficulties. They can maintain their domination in the community from generation to generation.
Persistent Identifierhttp://hdl.handle.net/10722/87521
ISSN

 

DC FieldValueLanguage
dc.contributor.authorZheng, V-
dc.date.accessioned2010-09-06T09:30:52Z-
dc.date.available2010-09-06T09:30:52Z-
dc.date.issued2002-
dc.identifier.citationJournal of Enterprising Culture, 2002, v. 10 n. 4, p. 287-312-
dc.identifier.issn0218-4958-
dc.identifier.urihttp://hdl.handle.net/10722/87521-
dc.description.abstractThis paper focuses on the study of inheritance, Chinese family business and economic development in Hong Kong. In this study, it is found that equal inheritance can assist economic development by generating competition and capital. Equal division is a criterion for sibling comparison. Comparison generates stress and anxiety with each son trying to outdo the other. Competition is therefore galvanized. Furthermore, initial capital that is released from partition can motivate sons, who want to be free from subjugation, to start their own business. This is the origin of the self-employment mentality. Both competition and capital are crucial factors for economic development to take place. The strong desire of self-employment mentality also drives Chinese family business to develop its own type of structure: jia-zu ji-tuan [family-based consortium]. Different family members can be diversified into different businesses or professions. These businesses or professions may or may not relate to each other. However, they maintain a certain level of interconnection under the banner of the family [jia-zu] and can support each other during time of crises and difficulties. They can maintain their domination in the community from generation to generation.-
dc.languageeng-
dc.publisherWorld Scientific Publishing Co Pte Ltd. The Journal's web site is located at http://www.worldscinet.com/jec/jec.shtml-
dc.relation.ispartofJournal of Enterprising Culture-
dc.rightsFor preprints : Preprint of an article published in [Journal, Volume, Issue, Year, Pages] [Article DOI] © [copyright World Scientific Publishing Company] [Journal URL] For postprints : Electronic version of an article published as [Journal, Volume, Issue, Year, Pages] [Article DOI] © [copyright World Scientific Publishing Company] [Journal URL] -
dc.titleInheritance, Chinese Family Business and Economic Development in Hong Kong-
dc.typeArticle-
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0218-4958&volume=10-4&spage=287&epage=312&date=2002&atitle=Inheritance,+Chinese+Family+Business+and+Economic+Development+in+Hong+Kongen_HK
dc.identifier.emailZheng, V: vzheng@hkucc.hku.hk-
dc.identifier.authorityZheng, V=rp00885-
dc.identifier.doi10.1142/S0218495802000049-
dc.identifier.hkuros84931-
dc.identifier.volume10-
dc.identifier.issue4-
dc.identifier.spage287-
dc.identifier.epage312-
dc.publisher.placeSingapore-

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