家族企业代际传递促进了企业创新吗?——来自创业板市场的经验证据

Does Intergenerational Transmission of Family Business Promote Enterprise Innovation:Empirical Evidence from Gem

家族企业代际传承究竟会给企业创新带来什么样影响是一个重要且仍具争议的话题。从人力资本视角,本文发掘家族企业二代接班者对企业创新行为的重要影响。结果显示:家族企业二代接班者更倾向于激励企业创新行为,这一激励不仅有利于促进企业加大内部研发投入而且还会通过资本运作来实现企业外延式创新,上述研究结论在削弱内生性问题后依旧保持稳健。本文的研究发现为家族企业代际传递与创新问题提供了理论验证,对家族企业创新实践和人力资本管理具有一定的启示意义。

It is an important and controversial topic that what kind of influence the family business intergenerational inheritance will bring to the enterprise innovation.From the perspective of human capital,this paper attempts to explore the important influence of the second generation of family business successors on the innovation behavior of enterprises.The results are as follows.The second generation of family business successors are more inclined to encourage the innovation behavior of enterprises.This incentive is not only conducive to the increase of internal R&D investment,but also to the realization of enterprise extension innovation through capital operation.The above research conclusion weakens the endogenous problem and remains stable.The research findings of this paper provide theoretical verification for the intergenerational transmission and innovation of family business,and have certain enlightenment significance for the innovation practice and human capital management of family business.