Succession planning in Chinese family-owned businesses in Hong Kong: an exploratory study on critical success factors and successor selection criteria
Bibliographic record
Abstract
This is one of the first studies to engage with succession issues amongst Chinese family-owned businesses (FOBs) in Hong Kong. The study is based on a survey conducted amongst FOBs in the Federation of Hong Kong Industries or The Chinese Manufacturers’ Association of Hong Kong, and also on five in-depth case studies conducted to explore the issues that were revealed in the survey in detail. The study builds cumulatively on previous work on succession in family owned businesses, and identifies eight Critical Success Factors and five Successor Selection Criteria that Chinese founders and successors in family businesses in Hong Kong agree on. The eight Critical Success Factors are: capability and contribution of the successor in the family business; personal characteristics of founder; successor motivated to lead the family business and agrees with the company direction; business environment and the family business scenario to develop the successor in different scenario; fair and planned shareholder changed parallel transfer of power; relationship between founder and successor; corporate culture and organizational structure; and other participants’ view on the management transition of the offspring-successor. Furthermore, the study identifies five Successor Selection Criteria for founders and successors of family businesses in Hong Kong and compares findings with a study using the same framework conducted in Canada and India. The five criteria are: management skills and experience, interpersonal relationships and networks among stakeholders; trust and relationship among family members and owner-manager; self-confidence and commitment of the successor in the family business; family standing and share ownership; and business and working experience of the successor. These are evaluated in terms of their concordance with the non-Chinese FOB literatures, and with the cases studies of Chinese FOBs described in this study. The Thesis concludes that succession issues are even more important for family-owned businesses in Hong Kong than elsewhere, and that insofar as family-owned firms solve their succession problems they will continue to make a vital contribution to business worldwide.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.002 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.004 | 0.001 |
| Scholarly communication | 0.002 | 0.001 |
| Open science | 0.000 | 0.001 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.002 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".