Empirical And Theoretical Analysis On The Family Enterprise’ Intergeneration Inheritance

At present, China’s family enterprises are facing rush hour for intergenerationinheritance. The Family enterprise’s intergeneration inheritance is in state ofcomplicated and long-time, and there are many variables influencing intergenerationinheritance. Studying rules and characteristics of intergeneration inheritance andexploring successful experience of the family enterprise’s inheritance may help toreduce inheritance risk, so as to achieve healthy development of family enterprises.Summarized classical family enterprise’s intergeneration inheritance models andbased on idea of “mechanism-structure-institution”, this dissertation set the invisiblevariable of the inheritance intention to analyze triggered behavior of the familyenterprise’s intergeneration inheritance, and brought intergeneration inheritancemodel including three stages of inheritance intention formation, the inheritance planformation and the inheritance institution arrangement from aspect of the behavior, asto detect the inheritance intention and its influencing mechanism. In addition, theinheritance mode could be divided into the stochastic pattern, the familial pattern, theprofessional pattern and the structural pattern according to the inheritance intention,the inheritance institution and the evolutionary model of the family enterprise’sintergeneration inheritance.A questionnaire on376incumbents of the family enterprise and a typicalinvestigation on10enterprises were made to analyze effectiveness of the abovetheoretical model, and achieved corresponding conclusions. Firstly, inheritanceintention could be explained effectively by indexes of inheritance culture, inheritanceenvironment, relation inheritance, inheritance aim, family inheritance, and inheritancecriterion and inheritance arrangement. Secondly, the incumbent’s factor and thefamily factor influenced the inheritance intention directly, and the family factorsinfluenced the inheritance intention indirectly by the incumbent’s factors derived fromstrong mediating effect. The family factor occupied dominant status in process ofintergeneration inheritance. Thirdly, the inheritance intention had significant impacton the inheritance plan, which indicated that the enterprise with higher inheritanceintention owned characteristics of inheritance target tending to family members,inheritance criterion being relatively tolerant, and successor being cultivated fromsenior posts and intergeneration inheritance behavior being short eyesight. Theinheritance intention had certain impact on the inheritance institution. The enterprise with higher inheritance intention cared much on internal control institution to enhancecontrolling ability, so did establishment of Family Council to alleviate influence andpressure of the family enterprise made by the family. Fourthly, the stochastic patternowned much uncertainty with higher inheritance risk, and the familial pattern had riskof power transfer.