家族企业资本结构形成路径的理论解析及实证检验:一个家族企业家的研究视角  

Theoretic Analysis and Empirical Test on Capital Structure's Forming Path of Family Business in China: From A View of Entrepreneur

作　　者：马春爱[1] 马栋[2] 杨贺[3] 

机构地区：[1]中国石油大学(北京)工商管理学院,北京102249 [2]北京工业大学经济与管理学院,北京100124 [3]中国进出口银行北京分行,北京100009

出　　处：《预测》2009年第6期24-29,共6页Forecasting

摘　　要：本文尝试以家族企业家作为研究切入点,以计划行为理论作为理论支点,解析家族企业的资本结构形成路径,理论推导出家族企业资本结构形成路径是一个由家族企业家融资行为意向上升为企业融资决策进而转化为融资行为最后形成特定资本结构的过程。利用结构方程模型进行实证检验的结果显示,家族企业家的融资态度、主观规范、融资行为控制知觉对家族企业的资本结构存在显著影响,实证结论支持理论推导的家族企业资本结构形成路径。From＇view of family entrepreneur, and taking the theory of planned behavior as basis, capital structure＇s forming path of Chinese family business is analyzed in the paper. In theory, it is concluded that the forming path is a process of family entrepreneur＇s financing intention up to firm＇s financing decision, ulteriorly to firm＇s financing action, and ultimately to firm＇ s capital structure. On the structural equation model, positive study shows that family entrepreneur＇ s financing attitude, subjective norm and perceived behavioral control affects family business＇ capital structure evidently, and the conclusion is consist with the academic deduction.

关 键 词：家族企业 家族企业家 资本结构 计划行为理论模型 

分 类 号：F121.23[经济管理—世界经济]