家业“常青”能否“长新”?——家族所有权涉入对企业产品优势的影响  

Can Family Firm"Evergreen"be"Ever New"?—A Study of the Effect of Family Involvement in Ownership on Corporate Product Advantage

作　　者：谭庆美[1] 张笑[1] 贾德涛 耿佩璇 TAN Qing-mei;ZHANG Xiao;JIA De-tao;GENG Pei-xuan(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：《系统工程》2025年第1期110-123,共14页Systems Engineering

基　　金：国家社会科学基金资助课题(20BGL093)。

摘　　要：以2008-2020年A股上市家族企业为对象,实证考察家族所有权涉入对家族企业产品优势的影响,并检验经济政策不确定性的调节效应。结果表明:家族所有权涉入程度提高会显著降低家族企业产品优势,经济政策不确定性程度增加会加剧二者间的负向关系。传导机制检验结果表明,第二类代理成本及家族涉入管理程度在家族所有权涉入与企业产品优势之间均起到部分中介效应。基于产品优势不同维度的检验发现,家族所有权涉入对产品质量、研发创新、顾客满意度及正直表现等均具有显著负向影响,经济政策不确定性对家族所有权涉入与不同产品优势维度之间的关系均具有显著调节作用。本文丰富了家族所有权涉入及企业产品优势相关研究,对家族企业改善产品优势具有参考价值。Using data on Chinese A-share listed family firms from 2008 to 2020,we empirically examine the effect of family involvement in ownership on product advantage and the moderating effect of economic policy uncertainty.Our regression results show that the increased family involvement in ownership significantly lowers the product advantage performance of family firms,and economic policy uncertainty strengthens the negative effect,Our channel analysis shows that both the type II agency cost and the family involvement in management have partial mediating effects on the negative relationship between family involvement in ownership and product advantage.In addition,our analysis based on different dimensions of product advantage shows that family involvement in ownership has significantly negative effects on the advantage of product quality,innovation performance,customer satisfaction,and integrity performance.Economic policy uncertainty plays significant moderating roles in the negative relationships between family involvement in ownership and different product advantage dimensions.Our study enriches the related research on family involvement in ownership and product advantage,which has a reference for family firms to improve their product advantage.

关 键 词：家族企业 家族所有权涉入 产品优势 经济政策不确定性 

分 类 号：F276[经济管理—企业管理] F272[经济管理—国民经济]