亲缘利他行为水平、冗余资源与家族企业创新绩效  

Kin altruism level,slack resources and innovation performance of family firms

作　　者：谭庆美[1] 郭美彤 严可欣 TAN Qingmei;GUO Meitong;YAN Kexin(College of Management and Economics,Tianjin University,Tianjin 300072,China)

机构地区：[1]天津大学管理与经济学部,天津300072

出　　处：《管理工程学报》2024年第6期41-57,共17页Journal of Industrial Engineering and Engineering Management

基　　金：国家社会科学基金项目(20BGL093)。

摘　　要：创新是提升企业核心竞争力的重要源泉,是国家经济长期稳定增长的源动力。基于2008—2020年沪深两市A股家族上市企业数据,本文探究了亲缘利他行为水平对家族企业创新绩效的影响以及冗余资源对二者关系的调节作用。研究发现,亲缘利他行为水平提高会显著降低家族企业创新投入及产出,但冗余资源增加能够缓解亲缘利他行为水平对创新投入及产出的消极作用。路径检验结果表明,风险承担水平、研发人员比重以及第二类代理成本对亲缘利他行为水平与创新绩效之间关系均起到部分中介作用。异质性检验结果表明,亲缘利他行为水平对创新投入及产出的负向影响在环境动态性及市场化程度较低的家族企业中更为显著。本文的研究结论对于理解亲缘利他行为对家族企业创新绩效的影响机制具有一定参考价值,对于实际控制人采取有效措施改善家族企业创新绩效、从微观层面助力国家创新驱动发展战略成功实施也有一定指导意义。As a primary means of firms′future investments,innovation can integrate existing resources,cultivate sustainable competitive advantages,and create economic value for family firms.Compared with nonfamily firms,the key distinguishing feature of family firms is that family members are involved in management,which drives the agency relationship between the actual controller and managers of family firms and is characterized by kin altruism.Decision making in family firms regarding innovation may be influenced by feelings of kinship,complicating such decision making by family firms.As one of the internal factors,slack resources help buffer family firms from external financing restrictions,which may facilitate a proactive innovation strategy.Slack resources may also create inefficiencies and irrational optimism of managers,leading to risk aversion when making innovation decisions.Therefore,slack resources are likely to affect the relationship between kinship altruism and the innovation performance of family firms.By adopting the multiple regression analysis method,we aim to investigate the impact of the kin altruism level on the innovation performance of family firms and the moderating effect of slack resources,and further examine the influencing mechanism of the risktaking level,ratio of R&D expertise and typeⅡagency cost on the relationship between kin altruism level and innovation performance.We also investigate the heterogeneous effects of environmental dynamism and marketization on the relationship between the kin altruism level and the innovation performance of family firms.Our sample includes family firms listed on the Chinese A-share market from 2008 to 2020.We choose both R&D investment intensity and the number of patent applications as measurements of the innovation performance of family firms.The Hamilton genetic coefficient,drawn on the differential order pattern of Chinese family firms and considering both the number of family members involved in management and their kinships with the actual controller,

关 键 词：家族企业 亲缘利他行为 冗余资源 创新绩效 

分 类 号：F276.5[经济管理—企业管理]