家族企业创一代离任过程中利他主义行为研究——基于差序格局理论视角  

Research on Altruistic Behavior during the Turnover of Family Firms' Founding Generation: Perspective of the Differential Order Pattern Theory

作　　者：胡宁[1] Hu Ning(School of Accountancy, Shanghai University of Finance and Economic)

机构地区：[1]上海财经大学会计学院

出　　处：《南开管理评论》2016年第6期168-176,188,共10页Nankai Business Review

基　　金：国家自然科学基金项目(71502115);上海财经大学博士研究生创新基金项目(CXJJ-2016-306)资助

摘　　要：进入21世纪以来,中国家族企业正历经历史上规模最大的一次传承,如何有效实现家族一代和二代间权力的顺利交接,再度成为理论界和实务界关心的重要话题。本文利用2004-2015年期间245个家族上市公司创一代变更事件,基于盈余管理的视角,实证考察差序格局下创一代离任前后的利他主义行为。研究结果表明,创一代离任前一期公司应计和真实盈余管理的负向程度随着继任者与离任创一代关系强度的提升而提升,并且在真实盈余管理过程中主要通过研发广告等费用性操控手段进行盈余管理;而在履新当期,受益于离任创一代的前期利他主义行为,新任董事长并没有进行过激的负向盈余管理。本文嵌入差序格局理论打开了家族上市公司在代际传承过程中利他主义行为的黑箱,揭示了中国特色文化的"父爱情怀",从而增进和丰富了对于差序格局理论和利他主义行为的理解。Since the 21st century, the Chinese family enterprises are undergoing the largest scale of inheritances in the history, how to smoothly transfer the power from the founding generation to the second generation of family enterprises, once again, becomes an important topic both for the theorists and practitioners. Using 245 founding generation alteration events of family listed firms from 2004 to 2015, this empirical study strictly focuses on studying the altruism behavior before and after the demission of founding generation by using the classical and energetic difference order pattern. Interesting results from this research show that the negative degree both in firm＇ s accruals and real earnings management in previous year before the founding generation＇ s demission presents a significant increase trend along with the raising strength degree of intimate relationship between the inheritor and founding generation. I further explore the specific channels how founding generation conducts interest transportation and find that R＆D expenses as well as advertising expenses becomes the main method to make benefit for the inheritor in the process of real earnings management. Finally, I examine the earnings management behavior of inheritors when they take over the company or companies. Consistent with prediction, the results demonstrate that during this new period, inheritor（s） would less likely tend to conduct more radical negative earnings management than that of professional managers because he or she has already taken the benefit from the prior founding generation by using altruistic behavior. Through the differential order pattern theory, this paper aims to open the black box of altruism behavior in the intergenerational transmission process of family listed firms. At the same time, this paper tries to reveal the special phenomenon of ＂Father＇ s love feelings＂ which is under Chinese characteristics and culture, so as to enhance and enrich the public comprehension of the differential order pattern theory

关 键 词：代际传承 差序格局 利他主义 应计盈余管理 真实盈余管理 

分 类 号：F276.5[经济管理—企业管理]