 CULTURAL FACTORS IN CHINESE FAMILY BUSINESS PERFORMANCE IN THAILANDTossapon Luechapattanaporn and
Winai Wongsurawat
International Journal of Entrepreneurship, 2021, vol. 25, issue 2 Abstract: The purpose of this research was to investigate the cultural characteristics of Chinese family business in Thailand and to identify how these characteristics contribute to business performance. A qualitative-led mixed methods strategy was used, incorporating with a business questionnaire (n = 380) and interviews with owners and managers of firms (n = 5). There were three distinct types of practices and values that were identified as unique to Chinese family businesses, namely renqing (reciprocity), guanxi (network relationshisp), and Confucian values (benevolent leadership, prioritising family, and exchanging favours). These values enabled the firm to increase resource access and capacity, to focus on mutual benefit, to meet deadlines and production requirements, to improve internal trust and relationships, and to create long-term relationships. Such practices, however, may also contribute to corruption and poor management. Thus, these cultural factors do create competitive advantage, but must be used carefully. Keywords: Family Firms; Renqing; Guanxi; Confucian Values; Business Performance (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ris:ijentr:0180 Access Statistics for this article International Journal of Entrepreneurship is currently edited by Nicolaj Hannesbo Petersen More articles in International Journal of Entrepreneurship from Allied Business Academies |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.