Keeping it in the family

Understanding how a Hong Kong-listed but family-owned company is run is a mystery for all but the most savvy of foreign investors. Still, these family-managed fiefdoms are the blue chips that dominate the Hang Seng Index, and investors have supported their rapid growth for the last decade with infusions of capital. Despite a growing interest in communicating with investors, the inner dynamics of these empires are not always as transparent as investors might like. While the new generation of