基于权威转换视角的家族企业二代子女继任方式研究

An Empirical Study on Second-Generation Succession Mode Based on the Perspective of Authority Transformation

基于权威转换视角,将家族企业继任方式划分为渐进式和“空降式”,并利用2004〜2017年中国上市家族企业样本进行检验分析。研究结果表明,财产均分带来所有权权威分散、家族权威的长辈威望以及一代企业主的领袖魅力权威都会促使家族企业更倾向于采取渐进式的继任方式。在所有权权威系统中,家族所有权比例越集中,越倾向于采用渐进式的继任方式;在家族权威系统中,家族高管比例和董事比例越高,也越倾向于采用渐进式的继任方式;在领袖魅力权威系统中,企业主的政治身份和行业地位同样显著增加安排二代子女渐进式继任的可能性。进一步研究还发现,不同的继任方式会导致企业战略导向差异,相对于采取“空降式”继任方式,采取渐进式继任方式的家族企业更具有长期导向。

Based on the perspective of authority transformation,the succession mode is divided into gradual succession and radical succession,and the sample of listed Chinese family firms from 2004 to 2017 is used for empirical test.The study found that the spread of ownership authority,the prestige of family authority and the charisma authority of first-generation of business owners all contribute to the trend of gradual succession.In the ownership authority system,the more concentrated the proportion of family ownership,the more it is inclined to adopt gradual succession.In the family authority system,the higher the proportion of family executives and directors,the more it is likely that they are to adopt gradual succession.In the charming authority system,the political status and industry status o￡business owners also significantly increase the possibility of arranging the gradual succession of the second generation children.Further research found that different succession models lead to differences in corporate strategic orientation.Compared with the radical succession,the gradual succession of family business has a longer-term orientation.