“去家族化”如何影响创新投入?——党组织与信息透明度的调节效应  

How Does“De-familization”Affect Innovation Investment?——The Moderating Effect of Party Organization and Information Transparency

作　　者：刘云芬[1] 阿丽米热·吐尔逊 王东红[1] Liu Yunfen;AlimireTuerxun;Wang Donghong(School of Economics and Management,Shihezi University,Shihezi 832000,China)

机构地区：[1]石河子大学经济与管理学院,新疆石河子832000

出　　处：《新疆农垦经济》2024年第3期79-93,共15页Xinjiang State Farms Economy

基　　金：石河子大学2020年自主资助科研项目(项目编号:ZZZC202043A)。

摘　　要：文章基于组织理论和社会情感财富理论视角,以2012—2019年我国A股上市家族企业为研究样本,对家族企业“去家族化”如何影响企业创新投入进行实证检验。结果表明,进行“去家族化”的家族企业更愿意增加创新投入,并且党组织和信息透明度都会正向调节“去家族化”与创新投入之间的关系,在通过稳健性和内生性检验后,该结论依然成立。进一步研究表明,“去家族化”通过减少关联交易,缓和家族企业内部代理冲突,进而增强企业的创新投入。论文的研究结论有助于家族企业更好地选择转型方式,并为深入研究“去家族化”和企业创新投入之间的机制奠定了基础。Based on the perspectives of organization theory and socio-emotional wealth theory,the article empirically examines how“de-familization”of family firms affects corporate innovation investment,using A-share listed family firms in China from 2012 to 2019 as a research sample.The results show that family firms that have“de-familized”are more willing to increase their innova⁃tion investment,and that both party organization and information transparency positively moderate the relationship between“de-fa⁃milization”and innovation investment,and the findings remain valid after robustness and endogeneity tests.Further study shows that“de-familization”enhances firms’innovation investment by reducing connected transaction and mitigating agency conflicts within family firms.The findings of the paper help family firms to better choose their transformation methods and provide a basis for further research on the mechanism between“de-familying”and firms’innovation investment.

关 键 词：去家族化 创新投入 党组织 信息透明度 

分 类 号：F276.5[经济管理—企业管理] F832.51[经济管理—国民经济] F273.1