Inspiration from Foreign Family Businesses on the Succession of Chinese Family Enterprises

摘要

After 30 years' development, Chinese family businesses are receiving their new administrators. Since the family businesses play an essential part in China's economy, it is of great momentousness to ensure their smooth succession. This paper reviews the classic succession theory, analyses the typical family business patterns, discusses the generational succession of family business, and then states the reasons, advantages and disadvantages of the fatherto-son succession. Finally, the paper proposes some suggestions on smoothly accomplishing the succession of the family businesses in China.