摘要
利用浙江和重庆两地家族企业的调查数据实证检验了家族企业(主)不同的控制权偏好与多元化企业目标之间的关系及其对家族企业股权融资行为影响。结果显示:家族控制是实现以家族利益为中心的企业目标(家族目标)的基础,对实现以企业增长为中心的企业目标(增长目标)无显著影响;家族控制对股权融资有显著的"U型"和负向影响;增长目标对股权融资有显著的正向影响。
Using the data of questionnaire from family businesses in Zhejing and Chongqing, this paper tests the relationship among family control, business objective and equity financing of family business. It finds that family control is the base of business objective （ family objective） ; Family control is related significantly U - type and negatively to equity; Growth objective is related positively to equity. These results will help exploring the growth and evolution equity financing of family business, and will help greatly prompting the reformation of governance of family business in China.
出处
《软科学》
CSSCI
2008年第4期126-130,共5页
Soft Science
基金
国家社会科学基金项目(06XJL006)
重庆市哲学社会科学基金项目(2005Z-JJ03)
关键词
家族企业
家族控制
家族目标
增长目标
股权融资
family business
family control
family objective
growth objective
equity financing
