Taiwanese family businesses assign great importance to succession and most have adopted informal mechanisms, accounting firm Ernst & Young Taiwan said on Thursday, as it released its first such survey at a news conference in Taipei. A solid and healthy succession scheme tops the list of concerns among 33 percent of family businesses in Taiwan, while 75 percent believe that governance via informal mechanisms, such as family gatherings, render a positive influence, it said. Others approach the issue the formal corporate way, namely through board and shareholder meetings that have a legally binding effect, it said. It is better for family businesses to