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The Research On The Relationship Between The Second Generation Members Involved In Listed Family Companies And Corporate Performance

Posted on:2017-08-04Degree:MasterType:Thesis
Country:ChinaCandidate:H SongFull Text:PDF
GTID:2359330512474438Subject:Industrial Economics
Abstract/Summary:PDF Full Text Request
As an important part of the social economy,family business has always been an important driving force for the rapid economic development of our country.As an important characteristic of family business,family involvement and business succession have always been the focus of academic attention and research.Although domestic and foreign scholars have conducted in-depth research on the problem of family involvement,based on the theory to explain the different effects of family governance efficiency,power allocation and ownership structure on the enterprise value,but there is great controversy in the conclusion.The research on the inheritance of family business in China mainly focuses on the influence factors and the evaluation of the effects.In this paper,combining business succession and family involvement,based on the actual situation of our country family business,analysis of the second generation members involved in listed family companies and corporate performance,so as to enrich the theoretical study of the inheritance of family business in China.Family business in China has a long history of development,but with the development of social system and economic policy,many of the family business ownership,governance and other aspects have undergone tremendous changes,the current domestic more active family business is the reform and opening up most of the creation and developed.After 30 years of vigorous development,by the founder of the family business age and physical and other physiological factors,generation of entrepreneurs need to consciously personal life cycle into the enterprise strategic planning to.According to the 2011 China Family Business Development Report,entrepreneurs aged over 45 accounted for 51.7%of the total sample,and this proportion will increase after several years of development.With the growing age of a generation of entrepreneurs,which makes an increasing number of second-generation family members to enter the enterprise and hold important positions.At present,China's family business is about to enter the critical stage of corporate heritage,whether the successful transfer of token can directly affect the survival and development of family business.By the influence of the traditional family culture and the imperfect manager of the market and other factors,China's family business more inherited the choice of inheriting his father's way,but the domestic succession for this second-generation internal transmission of the actual lack of empirical results stand by.This paper is based on the reality background,combining the theory of agency cost,inheritance theory and other related knowledge,for the family of the second generation of the family involved in the process of inheritance in the case of its involvement and involvement degree of corporate performance impact This paper discusses the impact of family involvement on corporate performance from the three dimensions of ownership,management and control,and then provides theoretical guidance to enhance the value of family business and achieve success.
Keywords/Search Tags:family second-generation involvement, ownership, management rights, control rights, corporate performance
PDF Full Text Request
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