Research on governance behavior and inheritance performance: A review based on Chinese family businesses

Abstract

Governance behavior is a symbol of institutions and mechanisms which is used for standardizing variable relationships between families and businesses. The family businesses' effective inheritance and sustainable development have unavoidably become two of the biggest challenges for family businesses and owners in the fortune-accumulating process. The paper explains the contents of two types of governance, both relational governance and contractual governance of family business, as well as inheritance performance, discusses the complicated dimension and structure of enterprises' performance, such as family business' performance, family success and the working attitudes of staff members. The paper also discusses the relationship between contractual governance and family businesses' inheritance, and the relationship between relational governance and family businesses' inheritance.