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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