Succession in Chinese family business: transgenerational transmission of social capital in Macao

Authors

Jenny Oliveros Lao Phillips

Keywords:

Chinese Family Business, Social Capital -- Macao SAR

Synopsis

Macao is well known for its gaming industry. However, there are also many traditional small-to-medium enterprises which are family-owned and run. There is no doubt that social capital is one of the key competitive advantages that family businesses possess, particularly when it comes to Chinese businesses with strong family values that emphasize the importance of trustworthiness and guanxi (relationships). As opposed to other forms of capital, social capital cannot be passed from one generation to another through the will of the incumbents. So, how is social capital passed on in family businesses from one generation to the next? Based on an in-depth study of five cases of successful family businesses in Macao, this research identified the forms of social capital present in business families and the succession process of these firms. From the generalizations drawn from the five cases, a theoretical framework is proposed to understand the intergenerational transmission of social capital in Chinese family businesses.

Author Biography

Jenny Oliveros Lao Phillips

Jenny Oliveros Lao Phillips is the Dean of the Faculty of Business and Law at the University of Saint Joseph (USJ). Prior to her current position, Prof. Phillips was appointed Registrar from 2016 to 2018, and Head of Public Relations Office from 2015 to 2018. She started working as a full-time academic at USJ in 2008. Before joining USJ, Prof. Phillips taught Business English at the Macao Polytechnic Institute and worked as a Cantonese/English interpreter and translator. She holds a Ph.D. in Business Administration awarded with the highest honor of summa cum laude from USJ in 2015. Prof. Phillips was born and educated in Macao. She holds a bachelor's degree in Tourism Business Management from the Institute for Tourism Studies, where she also received a higher diploma in Hotel Management and undertook specialized management training in public relations. She finished her MBA at USJ (IIUM) in 2003 with a thesis on customer satisfaction. Then, diverging from her management studies, she devoted her time in studying Literature and completed an MA dissertation on "The Ritual and the Sacred in Peter Shaffer's Theatre". In 2008, she was awarded a Master of Arts in English Studies (Literature Specialisation) with the highest grade of "Excellent" from the University of Macau. Prof. Phillips has over 20 years of teaching experience and has taught a wide range of courses, including Creativity, Innovation & Entrepreneurship, Marketing, Global Strategy, Service Operations, Managing Social Services, Creative Writing, and Literature. Her publications and research interests are in the areas of family business, social entrepreneurship, organizational behaviour and innovation, e-government, tourism and hospitality, empathy, and catharsis in tragedy and modern theatre.  She has been a researcher at the Faculty of Human Science at the Catholic University of Portugal, working on a research project bridging cognitive science in empathy and literature studies in catharsis focusing on tragic theatre. She is also a writer and a poet featured at the Macau Literary Festival in 2018 and 2020. Her first children's novel, The Legend of the Chinese Zodiac, was published in 2006. Her poems, poetry translations, and articles have appeared in Poesia Sino-Occidental, Poetry.com, The Drunken Boat, Poetry Sky, and other publications and local press. She wrote a bi-weekly column about local culture and tradition, "Made in Macao", in the English newspaper Macau Daily Times from 2015 to 2019. Prof. Phillips' latest research and academic projects focus on the development of sustainable business. She believes that business enterprises are social entities and should be viewed and developed sustainably as innovative solutions to societal issues and people's daily lives.

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Published

December 31, 2022

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