家族企业传承期更容易发生高管辞职?  

Does the Period of Intergenerational Transmission of Family Firm Influence Managers Departure?

作　　者：曾颖娴 邹立凯 李新春[1,2] ZENG Ying-xian;ZOU Li-kai;LI Xin-chun(Sun Yat-sen Business School,Guangzhou,Guangdong,510275,China;Research Center for Chinese Family Firm of Sun Yat-sen University,Guangzhou,Guangdong,510275,China)

机构地区：[1]中山大学管理学院,广东广州510275 [2]中山大学中国家族企业研究中心,广东广州510275

出　　处：《经济管理》2021年第8期107-123,共17页Business and Management Journal ( BMJ )

基　　金：国家自然科学基金重点国际(地区)合作研究项目“家族企业国际化与创新:基于制度-文化的比较研究”(71810107002)。

摘　　要：如何顺利完成一二代交接班是目前中国家族企业实践和研究的热门话题,已有研究发现,父辈会实施一系列利他主义行为以让二代继任者顺利接班,但其中的某些利他行为可能存在的副作用仍未得到足够的关注。本文以2010—2017年中国上市家族企业为样本,考察家族企业进入代际传承期对职业经理人高管辞职的影响。研究发现,由于为二代顺利接班付出一定经济代价以及二代接班带来非能力晋升机制的负效应,企业进入代际传承期后职业经理人高管辞职率显著增加。这一结论在经过稳健性检验后依然成立。进一步研究发现,独立董事比例的增加和正式制度治理程度的提升将减少进入代际传承期职业经理人高管辞职事件的发生,这表明企业治理制度的完善有利于缓解这类父辈利他行为带来的负向效应。本文揭示了在代际传承过程中父辈某些利他主义行为可能会导致家族企业高管人才流失问题,为家族企业如何实现健康、稳定的交接班提供新见解。Recently,Chinese family businesses has entered the peak period of intergenerational inheritance and many Chinese family businesses are facing the challenge of succession.It is meaningful and urgent to discuss how to carry on the inheritance of family business.Thus,how to smoothly realize the intergenerational succession has been a hot research topic of family business.Although some family businesses have tried to let professional manager take over the management of the enterprise and realize the formalized transformation of the family business,succession by the second generation of family members is the main choice and priority of family business inheritance.Many current studies have viewed altruism and its effects during the succession period from the perspective of the family.According to recent research,the first generation of family members are willing to pave the way for the smooth succession of the second generation,such as sending the second generation abroad for further study,arranging them to exercise in key management positions and taking them to public activities.And the paving behavior of succession is conducive to the smooth succession of the second generation,so as to successfully promote the family succession.However,few studies have examined how professional managers perceive and respond to such altruistic behavior in the family businesses.Although altruistic behavior is conducive to family inheritance,the beneficiaries of altruism do not include professional managers.On the contrary,it harms the interests of professional managers.Besides,the professional managers and the family owners have different goals.While the family owners purse financial goals as well as family inheritance,the professional managers only care about financial goal.Hence,the professional managers would not profit from those altruistic behaviors for family inheritance Therefore,although many studies have found that the altruistic behaviors of parents play a significant role in realizing succession,the latent dark side of some

关 键 词：代际传承 高管辞职 利他行为 代理问题 家族企业 

分 类 号：C93[经济管理—管理学]