FERC 2019

Transformation of Family Business in Asia and Middle East

 

Family enterprises have been dominating the industrial landscape of the Asian and Middle Eastern economies for long and the economic reforms and globalization in the past few decades have not altered the situation significantly. There is a general agreement among scholars that family business research needs to focus on contextualizing theory (theories in context) and/or theorize about context (theories of context). However, scholarly understanding of Family Business in Asia and Middle East has been limited even though this region has emerged as the most promising region of economic transformation in the world. Besides, Asian and Middle Eastern societies with formidable history and complex social and political structure have been witnessing fundamental, tumultuous and unprecedented changes in the recent years. Faced with diverse, complex and often paradoxical challenges family business in this region have been exhibiting a revolutionary phenomenon akin to “old order changeth, yielding place to new”, punctuated by metamorphosis of traditional family business and emergence of new age family enterprises. This makes the context a goldmine for family business scholars. The goal of the Asian Family Business Academic Conference is to provide an engaging platform where interested scholars from around the world present their research on family firms and business families embedded in this region, and discuss and debate how research leveraging this unique context and phenomenon can advance family business theory and practice globally.