The Pattern Of Family Exit In A Family Business

The governance and inheritance of family business has always been a key issue in academic and practical circles,and the withdrawal of the family corresponding to the succession of family business is also a hot topic in the academic circles in recent years.At present,China’s family enterprises are at the peak of corporate inheritance,and more and more founders are facing the choice of succession,whether to complete the intergenerational inheritance or to withdraw the family,which has become a common concern of scholars and entrepreneurs.Therefore,this paper analyzes the problem of how to hand over shift in family enterprises in China.First of all,this article combed the domestic and foreign about family enterprise governance,exit and the related literature of the inheritance of family businesses,from concept to clarify and define the family,on the basis of summarizing the family dynamics,patterns,and the consequences of exit,found the family to be possible to exit behavior of family businesses to explore the issue.Secondly,this paper summarizes the motivation orientation and behavior orientation of family exit mode in theory.Family exit mode under motivation orientation includes active exit and passive exit,and family exit mode under behavior orientation includes four type: "Retention of control right + waiver of management right","Abandoning of control right + retention of management right","Abandoning of control right + waiver of management right","Abandoning of control right + delegation of voting right".By further exploring the factors influencing the selection of different exit modes,this paper finds that the main factors influencing the selection of family exit modes can be divided into external environment factors,enterprise factors and family members factors.In addition,the use of case study,comparat ive study of Midea Group,SUPOR,Hisoar Pharmaceutical,Kangxin New Materials family exit process,focus on the pattern of the family out,find the advantages and disadvantages of different patterns,concluded the characteristics of the family in case enterprises exit mode selection,selection of the exit mode,has the economic consequences of the family business development.Finally,after a preliminary investigation,this paper finds that active exit is the inevitable way for the long-term development of family enterprises,and encourages founders to make a shift plan and reasonably choose the behavior-oriented family exit mode.As for the management of family wealth after the withdrawal of the family,this paper also put forward the establishment of family trust fund,the establishment of family office and other measures.This study enriches the relevant literature of family business governance and inheritance.