The Selection of Legal Governance Pattern for the Inheritance of Family Businesses in China
Over the past forty years of reform and opening-up,family businesses have grown into an important force for China's economic growth.However,with the arrival of the peak of inter-generational inheritance of family businesses in China,legal issues related to the inheritance of family businesses have become an unavoidable field.Starting from the universality of family businesses worldwide,combined with development stages,cultural backgrounds,and institutional references,this article points out that Chinese family businesses exhibit three typical characteristics:absolute concentration of external property rights,ambiguity of internal property rights structure,high concentration of control rights,and high consistency between family values and corporate values.Based on the"Three Rings Theory",this article explores the legal governance path that is more in line with the long-term development of Chinese local family businesses from the perspectives of ownership inheritance,successor selection,control enhancement mechanism,and wealth inheritance path,combined with successful inheritance cases of global family businesses and the practical needs of Chinese family businesses.It provides useful thinking for the development of family business governance in practice.
family businessinheritancelegal governanceownershipcontrol power
万方数据
维普
