The Authoritative Foundation Of Legitimacy Of Family Business Successors And Its Influence On Performance

Intergenerational inheritance is one of the most difficult challenges to be faced in the process of family business growth.How to transfer power and wealth to the next generation effectively becomes an important issue facing academia and practitioners.Is the general concern of the researchers.In many studies,scholars have found that,as the successor of their own lack of legitimacy,even if the founder of the family business to control the right to operate or transfer to the successor,the successor is difficult to form in the enterprise similar to the original enterprise The authority of the Lord,and may even appear within the family of contradictions and conflicts.From the legitimacy of the succession of family business has been the academic heritage of concern,When discussing the legitimacy of the successors,the academic authorities intervene more from the authoritative point of view,but there is no unified theoretical system on the authoritative basis for constituting the successors' legitimacy;the same time,researchers are mostly from the perspective of the legitimacy of the successor of the enterprise Of the impact of empirical research is still very scarce.To this end,this paper attempts to build the legitimacy of the authority of the successor to build a theoretical basis,and through empirical research methods to explore the legitimacy of succession after the impact of corporate performance.In this paper,five typical cases of authoritative conflict cases are selected by the phenomenon-driven case study method,and the authors try to construct the legitimacy of the successors by means of the grounded theory research method,and then select the five typical authority conflict enterprises of Sun Hung Kai,Junyao Group,Hong Kong Li & Fung,Zhejiang Lonsen and Haixin Group.The authority of the foundation.Then,according to the legitimacy of succession constructed above,the succession of family business succession has been measured by referring to psychology research method-Q classification.At the same time,using the data of listed family enterprises,the paper analyzes the internal mechanism of succession legitimacy to enterprise performance.Through the case analysis,this paper finds that the objective information derived from the successor individual level,the enterprise level and the family level constitutes the authoritative foundation of succession legitimacy.While the legitimacy of successors in the formation of its authority in the intermediary role,and constitutes a family business successor legitimacy of the three-level authority between the mutual influences.Based on the empirical research,this author validates the authoritative basic theory of the legitimacy of the successor,and accordingly measures the strength of the successor's legitimacy.Through the empirical study,it is found that the success of the individual level,the level of legitimacy of the enterprise level have a significant impact on corporate performance,the family level of legitimacy and business performance and no significant relationship between.At the same time,this article systematically studies the legitimacy source and mechanism of family business inheritance,enriches the content of family business legitimacy,and most importantly,it provides some theoretical guidance for the family business reality inheritance practice and operational recommendations.