家族企业代际传承中的权力过渡与绩效影响

The Power Transition and Performance Impact in Family Business Succession

家族企业代际传承中的权力传承一直是学界关注的热点,因为权力传承质量不仅影响着企业的可持续发展,甚至涉及到家族企业的生死存亡。现有研究多关注权力传承的流程的正义性和传承的合法性,但对权力过渡对企业绩效的影响研究不够。本研究以完成传承的上市企业为研究对象,从经营权、所有权和控制权三个角度实证研究了价值企业代际传承中权力过渡对家族企业绩效的影响。研究发现:家族企业权力代际传承中权力过渡、循序渐进有益于企业绩效,其中经营权、控制权过渡对企业绩效的积极效果更显著,而所有权过渡对企业绩效没有明显的效果。这一研究结论为家族企业代际传承提供了理论和现实指引。

Power succession is the essence of the family business, and how to transfer the power is related to the survival of family businesses. We put forward the concept of power transition, em- phasizing the core idea the transferring the power succession between the family firm＇s leader and successor should be gradual. Through the empirical analysis of the listed family firms which com- plete the succession, the research explores the influence of power transition from three angles： management, ownership and control. The conclusion is that power transition of the family firm suc- cession is beneficial to enterprise performance. Management transition and control transition have the significantly positive effect of the enterprise performance, while the ownership transition has no obvious effect on the enterprise performance. This provides the basis for the succession of family business, and through expositing the value of power transition, we introduce the concept of residual control right to lay the foundation for future research.