Family Control and Succession in Korean Business Groups

Häftad, Engelska, 2026

699 kr

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Chaebols like Samsung are globally recognized Korean business groups under shared family ownership. In the context of significant structural transformations shaped by evolving regulatory pressures in the wake of the Asian Financial Crisis, they faced the pressing question of how to transfer control of their sprawling networks of affiliated companies to the next generation. Focusing on both the inheritance of wealth and the transfer of managerial authority, this book traces how high inheritance taxes, tightening regulation of intra-group transactions and changing corporate governance norms have reshaped ownership structures and leadership patterns in these important economic entities. Sea-Jin Chang advocates a hybrid governance model, using professional managers for the day-to-day management of individual affiliates, while family owners focus on setting the strategic direction and ensuring intergenerational continuity. This collaborative approach allows chaebols to harness the complementary strengths of family stewardship and professional expertise, thereby enhancing corporate governance and supporting long-term sustainability.

Produktinformation

Utgivningsdatum2026-11-30
FormatHäftad
SpråkEngelska
Antal sidor250
FörlagCambridge University Press
ISBN9781009871662

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'Sea-Jin Chang provides a useful scholarly service by highlighting intergenerational managerial issues in managing the diversified business groups that dominate the economies of so many countries. Of particular interest to readers will be the extent to which economic logic transcends, or is subsumed by, other considerations arising from motivations more the province of sociologists, psychologists or political scientists. In that sense, this book is a useful read for intellectually capacious social scientists writ large.' Tarun Khanna, Jorge Paulo Lemann Professor, Harvard Business School, Harvard University