Sunday, December 18, 2011

PEOPLE BEING PEOPLE

Globally (except in Japan), family-run businesses underperform those run by professional managers. Japanese corporations often seem to have a talented son to take over for his father. The main reason for that, according to an August Freakonomics radio report, is that the family scions usually first recruit an ideal "son" and then adopt him, often also encouraging their daughters to marry the men. (Japanese adage: "You can't choose your sons, but you can choose your sons-in-law.") If the man is already married, sometimes he and his wife will both get adopted. In fact, while 98 percent of U.S. adoptions are of children, 98 percent of Japan's are of adults. [Freakonomics.com, 8-9-2011]
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