3. Can daughters take over the family business?
(Image: Vidar-Nordlie-Mathisen via Unsplash)
While Confucian culture emphasizes respect and hierarchy, this can also be a heavy burden as Confucianism talks about seniority over ability and male domination over female. If wealthy business families only have one daughter, some Asians may not feel secure handing leadership position to a woman.
«It’s very dangerous. In terms of business sustainability, you have to look at ability more than seniority, and you have to go beyond the male and female differences. For family businesses, women sometimes play a more important part in terms of sustainability. I’ve seen many women successful in running their family business,» said Michael Chan Yun Kwong, co-founder of the Legacy Academy in Hong Kong in a previous interview.
For example, after Daisy Ho took over her father's gaming empire SJM Holdings April last year, the company's share price significantly outperformed the local benchmark despite ongoing volatility.
