Family Control and Succession in Korean Business Groups

AvSea-Jin Chang

Inbunden, Engelska, 2026

1 452 kr

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Beskrivning

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

Utgivningsdatum:2026-11-30
Format:Inbunden
Språk:Engelska
Antal sidor:250
Förlag:Cambridge University Press
ISBN:9781009871716

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Sea-Jin Chang is a Lim Kim San Chair Professor at the National University of Singapore and a Fellow of the Strategic Management Society and the Academy of International Business. His publications include Financial Crisis and Transformation of Korean Business Groups: The Rise and Fall of Chaebols (Cambridge University Press, 2003).

Recensioner i media

'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

Innehållsförteckning

1. Introduction; 2. Inheritance and early spinoffs; 3. Evolution of the holding company structure; 4. Management succession; 5. The rise of professional managers; 6. Succession performance; 7. The future of chaebols; Appendices; References; Index.