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題 名 | 令香港家族企業脫胎換骨的股市力量=Stock Market Force that Have Transformed Hong Kong Family Businesses |
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作 者 | 鄭宏泰; 黃紹倫; | 書刊名 | 香港社會科學學報 |
卷 期 | 38 2010.春-夏[民99.春-夏] |
頁 次 | 頁29-58 |
分類號 | 553.79 |
關鍵詞 | 公司管治; 企業重組; 物業地產業; 股票市場; 家族企業; Corporate governance; Family businesses; Organizational re-structuring; Property market; Stock market; |
語 文 | 中文(Chinese) |
中文摘要 | 本文的主旨在於檢視香港的股票市場與家庭族企業的發展,選取的行業則是作為本港經濟中流砥柱的物業地產業。傳統上,家族企業總是被視作一股不太重要的經濟力量,並往往與規模小、壽命短及管理差等問題糾纏在一起。導致這種負面形象的核心因素,乃資金缺乏及股票市場發展未夠開放有關,而上世紀70年代股票市場開放後的一片火紅,則吸引了大批家族管控的地產發展公司上市,令他們可以吸納公眾資金而騰飛,日後發展成跨國綜合企業。由於資金來自公眾,企業組織、公司管治及監管制度等等亦會隨之改變,因而令那些管理成功的家族企業得以擺脫負面形象,崛起成為香港經濟一股主導性力量。 |
英文摘要 | This article attempts to examine the impacts of the stock market on family businesses by using the example of the development of the property market in Hong Kong. Traditionally, family businesses were considered less significant economic force with the characteristics of being small in size, short-lived and ill-managed. This negative image reflects the reality that they lack sufficient capital for business development and a less developed stock market. The authors’ in-depth study of ten large family-controlled property developers which went to public when the stock market opened up during the boom in the 1970s shows that when these businesses obtained enough capital, they could take-off, fly high and grow into multinational conglomerates. Since capital is raised from the stock market, the organizational structure, corporate governance and accountability system have also changed accordingly. As a result, some of these successfully-managed Chinese family enterprises have not only cast off their former negative image, but emerged as a dominant force in the Hong Kong economy. |
本系統中英文摘要資訊取自各篇刊載內容。