The grant from EWLE will be used to develop case studies on major family businesses in Asia. Research will also be conducted to better understand leadership and governance issues in family businesses in Asia.

Mr Chavalit Frederick Tsao, founder of EWLE and the chairman of IMC PAA Group, together with Professor Randel Carlock of INSEAD first announced the INSEAD - EWLE two-year research partnership during a regional Family Business Network event held earlier this month.

“Given the important role of family businesses in the global economy, especially in Asia, we wish to contribute to the research in this area to allow family businesses to learn more from each other,” said Mr. Tsao. “Succession planning, business transformation, social engagement and leadership cultivation are the four key areas Asian family businesses need to pay more attention to,” commented Mr. Tsao. He also believes it is important to integrate Eastern philosophies and Western business frameworks in order to create a harmonious global business community in which sustainable growth can take place.

Professor Carlock, who was also a keynote speaker at the Family Business Network event, will lead the research effort supported by the East West Learning Enterprises grant. “Not only are family firms the most prevalent type of company worldwide, they are also proven to be amongst the most successful,” said Professor Carlock when addressing the audience represented by more than 30 large family businesses in the region.