二代所有权涉入、多元化战略与企业成长——基于二代海外背景的调节作用  

Second Generation Ownership Involvement,Diversification Strategy and Firm Growth——The Moderating Effect Based on the Overseas Background of the Second Generation

作　　者：王朔 沈建文[1] 黄永胜 WANG Shuo;SHEN Jian-wen;HUANG Yong-sheng(School of Business Administration,Xinjiang University of Finance and Economics,Urumqi 830012,China)

机构地区：[1]新疆财经大学工商管理学院,新疆乌鲁木齐830012

出　　处：《兰州财经大学学报》2021年第2期46-57,共12页Journal of Lanzhou University of Finance and Economics

基　　金：新疆财经大学研究生科研基金项目“二代涉入、多元化战略与其业绩成长——基于二代海外背景的调节作用”(XJUFEK032)。

摘　　要：选取2014—2019年沪深A股处于代际传承阶段的非金融类上市家族企业数据,对二代所有权涉入、多元化战略与企业成长之间的关系进行理论分析和实证检验,试图解释二代所有权涉入与企业成长之间的内在影响机理,并对家族企业多元化战略在二代所有权涉入与企业成长之间的中介作用以及二代海外背景在二代所有权涉入和多元化战略关系中的调节作用进行实证分析。结果表明:二代所有权涉入正向影响企业成长,但会抑制家族企业多元化战略实施;多元化战略在二代所有权涉入与企业成长关系中起部分中介作用;二代海外背景正向调节二代所有权涉入与与企业成长之间的关系。将二代所有权涉入、二代海外背景、家族企业多元化战略与企业成长联系起来观察,拓展了我国家族企业代际传承领域的相关研究,同时也为我国家族企业代际传承的实践提供了新的管理启示。This paper selects the data of non-financial listed family firms at an intergenerational succession stage from 2014 to 2019 to conduct theoretical analysis and empirical test on the relationship between second-generation ownership involvement,diversification strategy,and firm growth.It aims to explain the internal influence mechanism between the involvement of second-generation ownership and the growth of the company,and to conduct an empirical analysis on the mediating role of family firm diversification strategy in the relationship between second-generation ownership involvement and firm growth,as well as the moderating role of the overseas background of second-generation in the relationship between second-generation ownership involvement and firm growth.The results show that the involvement of second-generation ownership has a positive impact on firm growth,but inhibits the implementation of family firm diversification strategy.Diversification strategy plays a partial mediating role in the relationship between second-generation ownership involvement and firm growth.The overseas background of the second generation positively moderates the relationship between ownership involvement of the second generation and firm growth.By combining the involvement of the second generation,the overseas background of the second generation,the diversification strategy of the family business,and the growth of the business,this study expands the related research in the field of intergenerational inheritance of family businesses in China and provides new management implication for the practice of intergenerational inheritance of family businesses.

关 键 词：二代所有权涉入 二代海外背景 家族企业 企业成长 

分 类 号：F276.5[经济管理—企业管理]