https://www.scmp.com/rss/505289/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com [Sponsored Article] As the demand for family offices continues to grow, there is a need to learn more about how they are organized, and how effective they are. However, studies on the subject are few and far between in academia, partly due to the fact that privacy and confidentiality are important in running family offices.  In this edition of Biz @ HKUST, we will take an insider’s look at some of the best-known family business leaders to see how their family offices were first set up, and are... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076150/dean?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076150/dean?utm_source=rss_feed Wed, 25 Mar 2020 00:25:18 +0000 [Sponsored Article] By Professor Winnie PENG, Director of the Tanoto Center for Asian Family Business and Entrepreneurship Studies, HKUST Business School As the number of billionaires grows in Asia, the need for an efficient way to pass on family wealth and values, and to maintain harmony within the family, has been increasing. This has resulted in a dramatic increase in the number of Asian family offices. A report by the EY Family Office estimates that the number of family offices increased... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076156/asian-family-office?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076156/asian-family-office?utm_source=rss_feed Wed, 25 Mar 2020 00:25:16 +0000 [Sponsored Article] The key to a successful family office is to make sure that the person running it is an outsider, says Hans Michael Jebsen, Chairman of the Jebsen Group. This ensures that no personal agendas come into play while managing the family wealth, he says.  “Someone who is not a family member is best,” Jebsen says. “They should know the family, but not be too close to them. It’s even better if they come from a similar family themselves,” he adds.  Jebsen says that the dynamics of... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076165/outside-influence?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076165/outside-influence?utm_source=rss_feed Wed, 25 Mar 2020 00:25:14 +0000 [Sponsored Article] If Vincent Lo Hong-sui could only give you one piece of advice about setting up a family office, he would tell you to establish a family governance system, right at the start. This advice results from his personal experiences. Lo, the Founder and Chairman of Shui On Group, was involved in a high-profile court case over his parents’ estate.  “The earlier you start the process of establishing a family governance system that includes a constitution, the better,” he says. “That’s... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076171/planning-future?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076171/planning-future?utm_source=rss_feed Wed, 25 Mar 2020 00:25:11 +0000 [Sponsored Article] Sukanto Tanoto knows what it takes to nurture and scale up a new business. As the Founder and Chairman of Royal Golden Eagle (RGE), which manages a group of companies in resources-based manufacturing, he has created global players while ensuring they remain sustainable.  The long-term strategy that Tanoto has applied to his businesses is mirrored in the development of his family office. Tanoto set up the family office to make sure that successions will be deliberate and... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076173/mapping-out-centennial?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076173/mapping-out-centennial?utm_source=rss_feed Wed, 25 Mar 2020 00:20:16 +0000 [Sponsored Article] Ronnie Chan Chi Chung is the Chairman of Hang Lung Group and its subsidiary Hang Lung Properties, one of the biggest real estate developers founded in Hong Kong. His family office was set up back in the 1960s when the concept of family offices was little-known in Asia.  As an early mover, Chan’s family office has experienced the boom-and-bust cycles in Hong Kong and witnessed most of Hang Lung’s 60 years of rich history. And throughout all this, the family office has remained... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076176/giving-it-all-away?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076176/giving-it-all-away?utm_source=rss_feed Wed, 25 Mar 2020 00:20:14 +0000 [Sponsored Article] Many family offices are formed to preserve family wealth and ensure a smooth succession. But philanthropist Lawrence Chan, representing the second generation of a family of hoteliers that founded the Park Lane Hotel in Hong Kong and many other hotels overseas, decided to start a family office for a different reason. Chan wants to use his office to help those less fortunate than himself, and to pass on some of his personal values to younger generations. “I want my family... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076178/guiding-principles?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076178/guiding-principles?utm_source=rss_feed Wed, 25 Mar 2020 00:20:12 +0000 [Sponsored Article] By Professor Roger KING Founder and Senior Advisor of the Tanoto Center for Asian Family Business and Entrepreneurship Studies HKUST Business School The Chinese and Jewish both have thousands of years’ civilizations. These historic civilizations have developed long-term traditions and wisdom, which influence how to manage business and wealth among Chinese and Jewish people.  The two ethnic groups have many similarities and differences. In this article, we compare them based... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076183/what-chinese-family?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076183/what-chinese-family?utm_source=rss_feed Wed, 25 Mar 2020 00:20:10 +0000 [Sponsored Article] By Professor Chu ZHANG,  Director of the Center for Investing,  Department of Finance, HKUST Business School Family office as a finance research subject is nascent. While issues on corporate structures of family businesses are widely studied in corporate finance and issues on business succession appear in management literature, academic study on family offices is nearly blank. A quick search for “family office” in the titles of papers published in the top-three finance... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076188/family-office-finance?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076188/family-office-finance?utm_source=rss_feed Wed, 25 Mar 2020 00:20:07 +0000 [Sponsored Article] By Professor Veronique LAFON-VINAIS,  Executive Director (Career Development and Corporate Outreach) and Associate Professor of Business Education (Finance),  Department of Finance, HKUST Business School In the coming decades, a wave of generational wealth transfer is expected to take place, driven by demographic changes, economic development, and rising asset prices. A global transfer of wealth of US$30 trillion from baby boomers to GenX and millennials is expected,... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076192/lifelong-learning-drives?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076192/lifelong-learning-drives?utm_source=rss_feed Wed, 25 Mar 2020 00:15:00 +0000 [Sponsored Article]  By Professor Entela BENZ-SALIASI,  Adjunct Associate Professor,  Department of Finance, HKUST Business School There has been a boom in ESG/sustainable investing in recent years. As the Global Sustainable Investment Alliance 2019 survey noted, around $30 trillion assets under management (AUM), that is one-third of total AUM, is spent according to the ESG (environment, social, governance) metrics. Unfortunately, Asia (ex-Japan) is lagging the rest of the world, with less than... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076030/how-family-offices-can?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076030/how-family-offices-can?utm_source=rss_feed Wed, 25 Mar 2020 00:14:00 +0000 [Sponsored Article] Haunted houses in Hong Kong have a curious ripple effect on the prices of nearby houses, according to “Spillovers in Prices: The Curious Case of Haunted Houses”, a study by Professor Utpal BHATTACHARYA from HKUST, Daisy HUANG from the Southwestern University of Finance and Economics, and Kasper Meisner NIELSEN from the Copenhagen Business School and HKUST.  Prices drop on average 19% for units that become haunted, 9% for units on the same floor as the haunted house, 6% for... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076029/haunted-house-effect?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076029/haunted-house-effect?utm_source=rss_feed Wed, 25 Mar 2020 00:13:00 +0000 [Sponsored Article] Department of Accounting ZHENG Yue  鄭悅 LI Xinlei 李莘檑    Evgeny PETROV    WANG Jing  汪京    TANG Chao  唐朝 Arthur MORRIS Siddharth BHAMHWANI Department of Economics Kohei KAWAGUCHI 川口康平    LIN Yatang 林婭棠     Robin Kaiji GONG 龔開濟    LEE Byoungchan  WU Qinggong  吳慶功 LI Xuan 黎璇   AU Pak Hung 歐栢雄    Department of Finance JI Yan 吉岩    Emilio BISETTI Yoshio  NOZAWA    XIONG Yan 熊琰    CHEN Zhanhui 陳展輝 Department of Information Systems, Business Statistics & Operations... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076027/meet-our-new-faculty?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076027/meet-our-new-faculty?utm_source=rss_feed Wed, 25 Mar 2020 00:12:00 +0000 [Sponsored Article] In Support for Entrepreneurship Entrepreneurship is an integral part of our education framework. Our School is extremely grateful to the generosity of Dominic LAI, Group Managing Director, A.S. Watson Group. He has made a meaningful donation to support student initiatives and learning activities in entrepreneurship. Professor Albert Ip Roof Garden With a generous donation from Prof Albert Ip, the rooftop of our Lee Shau Kee Business School Building has been named Professor... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076026/support-fuels-next?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076026/support-fuels-next?utm_source=rss_feed Wed, 25 Mar 2020 00:11:00 +0000 [Sponsored Article] Underpinned by a commitment to excellence, the HKUST Business School has garnered a global reputation for providing the best business education in the region. Our executive education and research programs have consistently performed well in some of the most respected rankings.  During the last ten years, our Kellogg-HKUST Executive MBA Program has been ranked No.1 in the world seven times and No.2 three times in the Financial Times EMBA Ranking. Our MBA has been ranked among... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076025/global-winners-beyond?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076025/global-winners-beyond?utm_source=rss_feed Wed, 25 Mar 2020 00:10:28 +0000 [Sponsored Article] Artificial Intelligence (AI) is bringing new possibilities for businesses and changing the way that companies in every sector operate. Finance, manufacturing, engineering, and healthcare are just some of the industries that are affected by advances in AI.    Consequently, aspiring business leaders in every sector need to develop a clear understanding of the power and potential of AI systems so they can successfully deal with the issues and opportunities as they arise.   To... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076023/ready-ai-driven-future?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076023/ready-ai-driven-future?utm_source=rss_feed Wed, 25 Mar 2020 00:10:26 +0000 [Sponsored Article] The event series “Starting Young Starting Smart - The Next Dialogue: The Entrepreneurial Bridge between India, Hong Kong and China” aimed to encourage closer ties between entrepreneurs from Hong Kong, China and India.  During twodays of activities, held in the Asia Society and HKUST in Hong Kong, panellists talked about the challenges and successes they had experienced while building their businesses.  At a kick-off session officiated by Ms Priyanka CHAUHAN, Consul General of... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076021/connecting-startups?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076021/connecting-startups?utm_source=rss_feed Wed, 25 Mar 2020 00:10:23 +0000 [Sponsored Article] Students looking for an opportunity to gain international exposure and achieve a solid foundation in business should consider applying to the World Bachelor in Business (WBB) Program. The Program will also suit those looking for an innovative approach to business studies.  Students who embark on this unique program will spend time at three different universities on three different continents during their years of study. They will also receive three degrees, one from each... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076018/power-three?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076018/power-three?utm_source=rss_feed Wed, 25 Mar 2020 00:10:21 +0000 [Sponsored Article] To foster an international outlook amongst business students, the unique Bachelor-to-Master (B2M) network helps undergraduates pursue a master’s degree at a member institution overseas. The network provides individual support, a waiver of application fees, and advantages such as a guaranteed invitation to an admission interview. This makes it easier for undergraduate students to join a master’s program overseas.  The B2M network gives participating students the opportunity to... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076014/b2m-local-global-reach?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076014/b2m-local-global-reach?utm_source=rss_feed Wed, 25 Mar 2020 00:10:15 +0000 [Sponsored Article] What Affects Innovation More: Policy or Policy Uncertainty? BHATTACHARYA, Utpal | HSU, Po-Hsuan | TIAN, Xuan | XU, Yan  Journal of Financial and Quantitative Analysis, 2017, vol 52, 1869-1901  Technological innovation plays a key role in promoting a nation’s long-term economic growth and competitive advantage. When it comes to innovation, politics is an important factor to consider, as politicians have the ability to implement policy or regulatory changes that can affect a... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076011/influence-politics?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076011/influence-politics?utm_source=rss_feed Wed, 25 Mar 2020 00:05:22 +0000 [Sponsored Article] When and how does functional diversity influence team innovation? The mediating role of knowledge sharing and the moderation role of affect-based trust in a team CHEUNG, Siu Yin | GONG, Yaping | WANG, Mo | ZHOU, Le Betty | SHI, Junqi  Human Relations, 2016, Vol. 69 (7)    Functional diversity in work teams should in theory lead to greater innovation as members bring different kinds of experiences to the table, such as marketing, engineering and R&D. But research on the... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076045/how-team-diversity?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076045/how-team-diversity?utm_source=rss_feed Wed, 25 Mar 2020 00:05:20 +0000 [Sponsored Article] A Non-cooperative Approach to Cost Allocation in Joint Replenishment HE, Simai | SETHURAMAN, Jay | WANG, Xuan | ZHANG, Jiawei  Operations Research, 65(6), pp. 1562-1573, 2017.    Retailers are often faced with a trade-off between setup costs, which arise when placing an order, and the associated inventory holding costs. In operations literature, something that has received a considerable amount of attention is the joint replenishment problem (JRP), which is a certain class of... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076047/finding-right-balance?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076047/finding-right-balance?utm_source=rss_feed Wed, 25 Mar 2020 00:05:18 +0000 [Sponsored Article] The effect of mandatory CSR disclosure on firm profitability and social externalities: Evidence from China CHEN, Yi-Chun | HUNG, Mingyi | WANG, Yongxiang  Journal of Accounting and Economics 65 (2018)    A study on the mandatory reporting of corporate social responsibility (CSR) activities in China has found that companies’ profitability declined after the rule came into effect, but so did pollution, providing a benefit to society. The study by Yi-Chun Chen, Mingyi Hung and... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076050/csr-when-companies-pay?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076050/csr-when-companies-pay?utm_source=rss_feed Wed, 25 Mar 2020 00:05:16 +0000 [Sponsored Article] Word of Mouth versus Word of Mouse: Speaking about a Brand Connects You to It More Than Writing Does SENGUPTA, Jaideep | SHEN, Hao  Journal of Consumer Research    Marketers are not only keen to get consumers discussing the brands they're promoting, ideally they’d like them to connect and identify with the products on a personal level. But does the mode – written or spoken – consumers use for communicating their thoughts and feelings about a brand, influence how connected... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076053/talking-brand?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076053/talking-brand?utm_source=rss_feed Wed, 25 Mar 2020 00:05:13 +0000 [Sponsored Article] Optimal Dynamic Auctions for Display Advertising CHEN, Ying-Ju  Operations Research, Vol.65, No. 4, July-August 2017    Display ads generate about US$25 billion a year through sales of “impressions” – a pair of eyeballs on an online advertisement that can be a banner, video or non-text-based promotion. But these impressions are unpredictable, change over time and cannot be stored. So how can publishers maximise their profits?  Ying-Ju Chen investigates the issue and proposes... https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076055/optimising-sales?utm_source=rss_feed https://www.scmp.com/presented/business/topics/defining-family-office-landscape/article/3076055/optimising-sales?utm_source=rss_feed Wed, 25 Mar 2020 00:00:38 +0000