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April 20, 2023

The pandemic, the war in Ukraine and the economic recession that has followed, have, once again, sparked a new debate on taxing the wealthy. But, as Professor Raul Barroso discusses, such taxes might lead to unintended, negative repercussions.

The Covid-19 pandemic, the war in Ukraine and the economic recession that has followed, has, once again, sparked a new debate on taxing the wealthy.

March 7, 2023

Sooner or later, all privately-owned companies have to tackle the quandary of the generational handover, but is it better to keep it in the family or bring in fresh blood, asks Jesús Rico, professor of strategy at EAE Business School?

Sooner or later, all large family companies have to tackle the quandary of the generational handover. Should they appoint a member of the family who knows the company and has its mission imprinted on their DNA? Or is it better to bring on board a director from outside the company who shakes things up with a new vision?

March 29, 2022

The Chinese proverb “Wealth never survives three generations” has an equivalent in many cultures and has appeared in writing over centuries. The international notion that the first generation builds wealth, the second spends and otherwise mismanages it, and the third is left with nothing, isn’t just a platitude, though says Wharton finance professor Richard Marston.

The Chinese proverb “Wealth never survives three generations” has an equivalent in many cultures and has appeared in writing over centuries. The international notion that the first generation builds wealth, the second spends and otherwise mismanages it, and the third is left with nothing, isn’t just a platitude, though.

November 30, 2021

The nature of the family business human capital is complex. Family and non-family employees have the potential to offer unique and distinct contributions to the firm. Yet some human resources practices might be perceived as a preferential treatment to family employees over non-family ones.

The nature of the family business human capital is complex. Family and non-family employees have the potential to offer unique and distinct contributions to the firm. Yet some human resources practices might be perceived as a preferential treatment to family employees over non-family ones.

This could be detrimental to the reputation of family business, being perceived as socially irresponsible, and potentially limiting their ability to attract qualified nonfamily employees, which could ultimately affect the company’s long-term performance.

November 26, 2021

In 1925, Vincent Massey, the scion of one of the wealthiest families in Canada, did something that Ed Rogers today would find unthinkable. He quit.

In 1925, Vincent Massey, the scion of one of the wealthiest families in Canada, did something that Ed Rogers today would find unthinkable.

He quit.

Massey (pictured below right) was the fourth-generation heir to his family’s Massey-Harris farm equipment company, then already well on its way to becoming Canada’s first truly global firm. Despite this, Massey decided that his future lay not in tractors, but in public service and philanthropy. He later became governor general of Canada.

November 23, 2021

Two-headed leadership can be defined as the capacity or art of leading a joint venture with two leaders who have equal conditions with respect to responsibility and participation in terms of decision-making power.

Two-headed leadership can be defined as the capacity or art of leading a joint venture with two leaders who have equal conditions with respect to responsibility and participation in terms of decision-making power.

Two-headed leadership is often the formula chosen by second and third generations to oversee and run a family company. However, for this type of joint leadership to work effectively, specific attributes are required that tend to be uncommon in family organisations.

November 4, 2021

While many might consider history as just something that happened in the past, it is found in our research to have the potential to create important competitive advantages for family businesses and even new entrepreneurs.

“Spanning almost a hundred years, the story behind this restaurant [is told in] the lives of three generations of remarkable Chinese women. Their extraordinary journey takes us from the brutal poverty of village life in mainland China, to newly prosperous 1930s Hong Kong and finally to the UK. Their lives were as dramatic as the times they lived through.” – Sweet Mandarin.

October 19, 2021

Incorporating the family story and managing the perception of entitlement while handling complex relationships are key skills for rising leaders of family businesses, executive leadership experts say.

Incorporating the family story and managing the perception of entitlement while handling complex relationships are key skills for rising leaders of family businesses, executive leadership experts say.

July 29, 2021

The most basic and perhaps most ultimately effective strategy for leaders dealing with the challenges of family business is to plan, create and maintain effective communication practices.

The most basic and perhaps most ultimately effective strategy for leaders dealing with the challenges of family business is to plan, create and maintain effective communication practices.

As family business member and consultant Vernon Holleman puts it: “Communication is critical. Honest, regular communication about where the business is, how it’s doing, how it’s sort of being run and operated.

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