Family concerns make up over half of all big businesses in Asia
become the “Las Vegas of the Far East”, predicted Sheldon Adelson, an American casino magnate. In 2019 the Chinese territory’s $30bn in annual casino revenue was five times Vegas’s. Despite a slump in turnover this year as covid-19 emptied parlours, Macau’s rise looks poised to resume. It owes much to Stanley Ho, the charming scion of an illustrious Hong Kong clan.
Many Asian firms face similarly complex successions. . Other recently departed patriarchs include Eka Tjipta Widjaja of Indonesia’s Sinar Mas Group, Henry Sy ofGroup in the Philippines and Shin Kyuk-ho of South Korea’s Lotte Group. Many other businesses have ageing leaders. Experts foresee a wave of turbulence.
Many patriarchs fear that anointing an heir apparent would weaken their grip on power or bring bad luck. Because Asian business dynasties tend to be quite new, many lack the institutional structures of European or American ones. A deeper problem is their relationship-based management model. Bosses cultivate a personal rapport with politicians and financiers, which does not easily transfer from one generation to the next. Joseph Fan of the Chinese University of Hong Kong finds that family firms in Hong Kong, Singapore and Taiwan lose some 60% of their value during generational transitions.
Some of Asia’s geriatric bosses are keen to avoid this fate. Before retiring two years ago, Li Ka-shing, the 91-year-old doyen of corporate Hong Kong, simplified his web of businesses. He gave one of his sons clear control ofThis article appeared in the Business section of the print edition under the headline "Godfathers depart, too"
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
What The Asian Snacks Boom Says About Asian AmericansFrom Pocky to Yan Yan, shrimp chips to nori, the boom in Asian snacking speaks to our nation’s nostalgia of our own Asian-American history — both real, and imagined.
続きを読む »
There’s Another Pandemic in My Life: Anti-Asian RacismAnd it's exhausting.
続きを読む »
Asian shares slip as new Hong Kong tensions riseAsian shares slipped on Wednesday as investor concerns about rising tensions between the United States and China tempered optimism about a re-opening of the world economy.
続きを読む »
Opinion | Trump's scapegoating of Asian Americans is an affront to all AmericansOpinion | Joe Biden and Sen. Tammy Duckworth: 'In the past several months, countless Asian Americans have been punched and kicked and threatened, told that they'll be sorry if they don't leave this country — their country.' - NBCNewsTHINK
続きを読む »
Review: The female gaze subtly elevates Asian American trilogy capper 'I Will Make You Mine'Lynn Chen makes her feature directing debut with 'I Will Make You Mine,' reuniting with Goh Nakamura and the casts of 'Surrogate Valentine' and 'Daylight Savings.'
続きを読む »