摘要
本文利用2007-2016年所有A股家族上市公司作为研究样本,考察了夫妻控制人对家族企业创新水平的影响,并进一步检验了夫妻控制人对家族企业创新水平的影响机制。实证检验结果发现,与非夫妻控制人家族企业相比,夫妻控制人家族企业对企业创新水平存在显著的正向影响。进一步检验发现,在夫妻控制人家族企业中,夫妻共同管理对家族企业创新水平有显著的促进作用,在这类上市公司中,夫妻间权威差异抑制了创新水平。同时还发现,妻子具备专业技术专长的人力资本能够提升夫妻共同管理下家族企业的创新水平。本文结果表明,基于情感纽带的夫妻共同治理是促进家族企业创新的重要因素,该结论为中国转型经济背景下尊重和释放民营企业家精神、尊重男女有效协作基础上的家庭和谐、充分发挥家族核心成员在企业中的作用带来了有益启示。
The relationship between family business and corporate innovation have always been a hot topic.The literature has shown that the influence of family involvement on enterprises has two sides.On the positive side,trust among family members can reduce agency costs,avoid short-sighted behavior of corporate financial decision-making,and enhance the competitiveness of enterprises.There are frustrations of course,such as family involvement may lead to the self-interested behavior of family business decision-making,as well as the internal contradictions of family caused by nepotism in the selection of management team,which has a negative impact on the competitiveness of enterprises.Further research shows that family firms have inconsistent results on the impact of corporate strategic opportunity identification,human capital investment and performance and expectation difference on innovation input under different situations.However,few studies have focused on the impact of conjugal control and non-conjugal control on the innovation capability of family firms.We believe that it is undoubtedly a more fundamental proposition to explore the relationship between the characteristics of family internal structure and enterprise innovation based on the gradual changes of Chinese system and culture.In the context of the relative lack of research on the relationship between family firm heterogeneity and innovation ability,this study focuses on the differentiated impact of husband-wife controlled family listed companies and non-husband-wife controlled family listed companies on their innovation capabilities,which provides empirical evidence with more Chinese institutional and cultural characteristics for the development of corporate organizational management and innovation theories.Taking all A-share listed family firms from 2007 to 2016 as the research sample,this paper examines the influence of spousal control on firm innovation level,and further examines the influence mechanism of spousal control on firm innovation capability,so as to examine the relationship between family firm heterogeneity and firm innovation capability.The empirical results show that:Compared with non-spousal controlled family enterprises,spousal controlled family enterprises have significant positive effects on the level of enterprise innovation.Further studies suggest that:Joint management of spousal controlled family enterprises improve the level of innovation.Authority difference of the couple will weaken the innovation capacity.However,the wife’professional skills can promote the innovation level.Focusing on the characteristics of family internal structure and embedding marriage relationship in the enterprise organization,this paper investigates the influence of different characteristics of husband and wife and cooperation mode on enterprise innovation,the conclusion enriches the theory of family business and family science,and also provides important information reference for the stakeholder groups in the capital market.
作者
许宇鹏
程博
潘飞
Xu Yupeng;Cheng Bo;Pan Fei(Shanghai University of Finance and Economic;Postdoctoral Research Center,China Zheshang Bank;School of Accountancy,Nanjing Audit University;Institute of Accounting and Finance,Shanghai University of Finance and Economics)
出处
《南开管理评论》
CSSCI
北大核心
2021年第1期169-180,219-220,共14页
Nankai Business Review
基金
国家自然科学基金项目(71972120、71702165)
教育部人文社会科学重点研究基地重大项目(15JJD630008)资助
关键词
企业创新
夫妻控制人
家族企业
共同管理
Corporate Innovation
Spousal Controlled Family Firm
Family Business
Joint Management
