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Abstract This paper establishes a theoretical framework, which describes that “why” and “how” the family factor results in the family division. It points out that the corresponding strategic concept of family division is the corporate divestment, which is determined by the ownership costs including the monitoring costs, the risktaking costs and the group decisionmaking costs. Furthermore, family social capital like family authority and family credit decides the level of the ownership costs. So the family social capital corresponds to the family business divestment. To prove this relationship, the paper chooses Zongshen Motorcycle, Hope Group and Suning Enterprise to make a multicase comparative analysis. The results provide a new theoretical basis for the set of family business property rights system.
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Received: 09 May 2012
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2013, Vol. 10 
