Family businesses are significant worldwide. In Europe, histories of family businesses and their influences transcend centuries; in the United States, 35% of listed firms in the Standard & Poor's 500 are family-owned; here in Hong Kong, nearly 70% of listed firms are family-owned, while over 60% of GDP in Mainland China is contributed by family businesses, and their speed of wealth creation surpassed other parts of the world in recent years.
Despite its importance, studies of family business in the Asia region has yet to receive attention than it should have had. The research of family business and entrepreneurship published in top journal is mostly conducted in the western perspectives. Few well-recognized academic studies address issues in Asia, and fewer of them have practical implication. Through high-quality practical research, education and events, the Center seeks to become the world’s leading research institution for Asian family business and entrepreneurship, especially Chinese family business.
With its multi-disciplinary nature, family business is a challenging subject requiring knowledge from, but not limited to finance, management, entrepreneurship, social science, and law studies. It takes years of effort to build it into a core area of study in higher education institution, which is exactly the direction that our Center is heading to.
My greatest gratitude to the Founding Director of our Center Prof. Roger King for his visionary and instrumental role in the first ten years of the Center, and to Tanto Foundation which has rendered support and donation to the Center since 2012.
May I invite you to join us in the efforts to support the Asian family business research and its educational activities, for betterment of the world as a whole.
Prof. Winnie Peng
Director of Tanoto Center for Asian Family Business and Entrepreneurship Studies
HKUST Business School