Familial capitalism in global institutional contexts: Implications for corporate governance and entrepreneurship in East Asia |
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Authors: | Lloyd P. Steier |
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Affiliation: | (1) University of Alberta School of Business, Edmonton, AB, T6G 2R6, Canada |
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Abstract: | 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. |
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Keywords: | Familial capitalism Corporate governance Asia Family enterprise Entrepreneurship |
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