家族企业股权结构对传承的影响——基于跨国和跨地区案例的比较研究  

The Influence of Equity Structure of Family Enterprises on Succession——A Comparative Study Based on Cross-Country and Cross-Region Cases

作　　者：常诗雅 潘志超 李思飞[2] Chang Shiya;Pan Zhichao;Li Sifei(Department of Management Science and Engineering,International Business School,Beijing Foreign Studies University;International Economics,Beijing Foreign Studies University;International Business School,Beijing Foreign Studies University)

机构地区：[1]北京外国语大学国际商学院管理科学与工程系,北京100089 [2]北京外国语大学国际商学院,北京100089

出　　处：《区域与全球发展》2020年第1期31-45,154,155,共17页Area Studies and Global Development

摘　　要：家族企业是一种在世界范围内广泛存在的企业形态,在各国经济发展中都起着举足轻重的作用。但是,家族企业在发展中却面临着代际传承的重大挑战。已有研究发现,家族企业的股权结构不仅影响企业当期的治理和盈利状况,更会对企业的传承产生重要的影响。如何进行股权设计是家族企业能否长期把握控制权和经营权的关键因素。因此,本文选取不同国家和地区的家族企业的股权结构和治理模式进行分析,比较其结构和模式特点,总结这些优缺点在影响家族企业传承方面的利弊。在此基础上,归纳不同股权架构适用的传承条件,为我国家族企业的长久传承提供参考。Family businesses are found around the world and play a decisive role in the development of economy.However,family businesses face a great challenge in the succession process.Existing literature finds that the equity structure does not only affect the governance and profitability of the company,but also affects the intergenerational succession of the business.Careful design of equity structure is the key factor for the family business to consolidate control and management rights for a long term.Therefore,this paper selects several typical equity structures of family businesses from different countries and regions.It then analyzes the characteristics of each structure and summarizes their advantages and disadvantages in relation to the succession.Based on these analyses,this paper provides implications for the long-term inheritance of Chinese family enterprises.

关 键 词：家族企业 代际传承 永续经营 三权分立 股权结构 

分 类 号：F74[经济管理—国际贸易]