家族企业接班人的合法性体系建构——基于23家上市公司的股民意见的内容分析

The Construction of the Legitimacy System of Family Business Successors: Based on the Content Analysis of the Shareholders' Opinions of 23 Listed Companies

代际传承是体现家族企业属性的基本活动,企业外部利益相关者对家族企业接班人的合法性评价会影响传承效果。然而,目前研究对基于评价者视角的组织合法性判断仍处于起步阶段。本研究基于股民对23家上市案例公司的点评意见,借鉴扎根理论的数据编码方法,构建了一个基于股民视角的家族企业接班人的合法性指标体系。为进一步探究体系中各指标的重要性程度,本文运用层次分析法对各指标权重进行了测算。研究发现:在一级指标方面,投资者更关注企业合法性的相关因素,其后才是个人合法性和家族合法性;在三级指标方面,对接班人合法性影响较强的分别为交班方式、亲缘关系、内部人行为、公司声誉、接班人年龄、接班人领导能力、交班人退位原因和家族声誉。本研究从一个新的视角深化了对家族企业接班人合法性的认识,同时又为接班人培养提供了新的思路。

As a basic activity of family business,intergenerational transition attracts universal attention of enterprise external stakeholders.Their evaluation of the legitimacy to successors will affect succession performance.However,the present research of organizational legitimacy judgment is still in the initial stage.Therefore,this study selects 23 listed companies as study cases and relevant investors' comments to successors in 17000 words.Considering the popularity of succession will gradually decrease with time,and a large number of irrelevant comments flood the available data,which will affect the accuracy of research,this study sets the relevant sample comments posted within 30 days after the handover.By using the data coding method of the Grounded Theory,this paper conceptualizes and categorizes shareholders'comments respectively,and confirms 19 indicators of the legitimacy in family business successors.The research finally dissolves the legitimacy of successors into three dimensions: individual legitimacy,corporate legitimacy and family legitimacy.Individual legitimacy includes two main categories:biography and cognitive characteristics,such as gender,age,second generation identity,knowledge foundation,practical experience,leadership,and personality traits.Corporate legitimacy consists of two main categories of factors:inheritance management and organizational impression,such as withdrawal method,auxiliary measure,shift mode,insider behavior,power restructuring,the reason for abdication,political capital,and corporate reputation.Family legitimacy includes two main categories:family structure and family culture,such as family business identity, kinship,family cohesion,and family reputation.Then,this paper calculates the weights of the relationships between different indicators according to the different attention of criteria and applying Analytic Hierarchy Process (AHP).Finally it builds a shareholder perspective of the legitimacy system of family business successors.The study finds that:in the first-level indicators,investors pay more attention to the related factors of corporate legitimacy,and the following is individual legitimacy and family legitimacy;in the three-level indicators,successor legitimacy factors from strong to weak respectively are the way of succession,kinship,insider behavior,company's reputation,the age of successors,the leadership of successors,abdicated reason,and family reputation.This study not only deepens the understanding of the legitimacy of family business successors from a new perspective,but also provides a new idea for the cultivation of family business successors.