The Effects of Family Values on Entrepreneurship in East Asian Countries

In Hyeock Lee and Yongsun Paik

Chapter 5 in Korean Entrepreneurship, 2010, pp 91-111 from Palgrave Macmillan

Abstract: Abstract In this chapter, we investigate characteristics of entrepreneurial family firms across three East Asian countries (Korea, China, and Japan), and suggest that these firms exhibit heterogeneous characteristics depending on the unique combination of the formal and informal institutional constraints surrounding each country. Further, we assess the effects of Confucianism on the role of the family in the process of their firm creation, and identify hierarchical relationships, paternalism, seniority, and preservation of group harmony as common characteristics of entrepreneurial family firms across the three countries. Several management issues they face are discussed.

Keywords: Corporate Governance; Family Firm; Formal Institution; East Asian Country; Informal Institution (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-11550-7_5

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DOI: 10.1057/9780230115507_5

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