Priorities for Australian family businesses

This paper reports on a national survey which identified priorities that are considered important to the success of Australian family businesses. The FBA and KPMG Family Business Needs Survey 2005 targeted organisations of all sizes and industries across all states. Findings from the survey are extensive and provide noteworthy progress in understanding the issues deemed most important to family businesses, such as balancing family concerns and business interests, balancing short-term and long-term business decisions and increasing profits. As a result of this project, it has: provided an instrument that will allow research investigation on an annual basis; provided initial data sets that highlight key issues facing family business survival; and provided a substantial data set that can be utilised by a range of researchers and practitioners.

On the adoption of family-to-business governance mechanisms in Australian family businesses

This study seeks to identify the adoption of certain family-to-business governance mechanisms and whether the presence of these mechanisms assists family businesses with governance matters.

Planning practices in Australian family businesses

Australian family businesses have a poor track record of undertaking formal business planning. This paper reports on the business planning behaviour of
Australian family businesses from a survey of 5,000 businesses across all types and sizes of industries. Our survey found that around one-third of family
businesses undertake formal planning activities. Thus, there has been no improvement in family business planning practices from that reported in 2003. The reluctance of Australian family businesses to undertake contingency and risk planning, as well as human resources planning, leaves Australian family businesses highly exposed in these difficult economic times.

The influence of cultural attributes on intergenerational succession in the Chinese-Australian family business

Research on succession in family business has been traditionally concentrated on planning and strategies in terms of management, ownership and governance. There is an increasing concern on the family influence on the process of succession. This paper discusses the role that the family culture plays in sustaining a family's commitment to its business. In particular, the family business is a prominent form of organisation among the ethnic Chinese expatriate business families. Since the I 980s, under the business migration programme, the increase of Chinese migrants has contributed significantly to the cultural landscape of Australian. This paper chooses Chinese-Australian family businesses to explore their cultural characteristics as a strong family influence on the practices of pas sing on the business to the next generation.

The succession decision in Chinese–Australian family businesses : an exploratory study

This article explores the factors used to make succession choices as ethnic Chinese family business founders integrate into their host country, Australia. An empirical study of six Chinese–Australian family businesses was used to analyse what factors influence the succession decision-making process. Results show three broad factors influenced the founders’ decisions, including the aspirations and visions of the business founders, cultural and individual values shaped in the integration process, and the options that are available for succession. Findings challenge the anticipated option of intergenerational succession, with its emphasis on family-oriented collectivistic values as expectations. It provides future support for considering how the cultural value orientation (collectivistic, individualistic, or transitional) has impacted on the founder’s succession choices. Further research is required to understand how the flexible, changing, situational founder’s succession intentions are manifested among family businesses in cultural transition.

Challenges of inter-generational succession in the Chinese Australian family business

Chinese immigrants have long been a feature of Australia's population mix and play a critical role in the country's economic activities, with particular contribution by Chinese family-owned businesses. Although these family-owned businesses can generate and significantly improve the financial wealth which stems from the family's original fortune, most Chinese family businesses are relatively short-lived, rarely extending beyond one generation. The high mortality rate in family businesses points primarily to the challenges of management succession. There is recognition that inter-generational succession is essential for both the profitability of Chinese family businesses and the welfare of the family as a whole. However, the intentions of inter-generational pursuit of continuity can be subject to the different goals and interests of key participants, as well as the surrounding context in which the business develops. This paper presents issues pertaining to the inter-generational diversity that might challenge the business continuity of Chinese family businesses, through the identification of how individuals perceive, relate to and initiate the succession process.

RE Patrick & the rights and responsibilities of sperm donor fathers in Australian family law

In the matter of Re Patrick, Guest J of the Family Court of Australia held that a sperm donor, known to the lesbian mother of the child, had a right under Australian law to regular contact with the child to the extent that this was in the child's best interests. However, his Honour also held that due to the way in which particular provisions of the Family Law Act 1975 (Cth) are drafted, a sperm donor cannot be regarded as the "parent" of the child, and accordingly called for legislative reform to recognise the rights of known sperm donors wanting involvement with the child. In this article, the authors will first explore the facts and decision in Re Patrick, and then outline a proposal to amend the Family Law Act 1975 so that sperm donors can apply for an order to be a 'parent' under the Act.

Accountants and valuations in Australian family court proceedings

This paper investigates issues related to the role of accountants in presenting expert evidence in the form of share valuations in Family Court of Australia proceedings. By providing a background to the valuation rules applied by the Family Court and examining relevant cases, the paper emphasises that considerable ambiguity exists. The paper highlights some of the inconsistencies that are evident from reported decisions and stresses the difficulties that judges have experienced with valuations presented by accountants in Family Court cases. It is evident that the courts, despite the legal precedents, continue to have considerable difficulty with valuation issues and methodologies. By exploring issues related to accounting based valuations in the context of Australian family law cases, the present paper examines accounting in a particular social and institutional setting. The paper is interdisciplinary in nature, in that issues extending over accounting, finance and legal boundaries are considered.

Quality of life of Australian family carers : implications for research, policy and practice

Abstract As part of an international,multicentered project, the burden of care, health, and subjective well-being experienced by select Australian family carers supporting a relative with disability at home were investigated. Some 448 family carers residing in New South Wales and Tasmania completed a battery of instruments, including a self-report demographic survey, the Family Caregiver Burden Inventory, the General Health Questionnaire, and the Personal Wellbeing Index. Respondents were predominantly females (mean
age = 48 years), married, and supporting a son or daughter with an intellectual disability (mean age = 18 years). Although caring for their family member was not perceived to be a burden, respondents reported notable limitations on their social networks and social activities. They reported higher levels of unemployment than would be expected for the general population and were over represented in lower income groups. They reported seriously low levels of mental health and personal well-being when compared with the general population. The findings revealed that this group of family carers were at high risk of social and economic disadvantage and at high risk of mental health challenges. Social policy makers and service providers should take these factors into account, both in the interests of promoting the health and well-being of the carers and considering the long-term needs of family members with disability who rely on family carers for daily support when designing services.