Empirical Research On Family Authority And Enterprise Performance

With the continuous expansion of market economy,as the backbone of private economy,family enterprises face new development opportunities and challenges and in the economic transition stage play a more and more important role.family enterprises research began in the western scholars in this field to explore,from the early to the definition of family enterprises to focusing on family enterprises in the development process of the evolution of organization system,management behavior.The studies of family enterprises have already been to form a relatively complete theoretical system and the diversification of research perspectives and enriched the research ideas and content.The influence of family control to the enterprise has been the research hotspot in the field,but familial factors affecting the conduct of corporate governance mechanism is more theoretical exploration,combining of eastern and western family enterprises development stage as well as the differences in governance itself characteristic,simply comparing the difference lack of practical significance.At the same time,in view of the present domestic research on related field,research angle is too single and unable to effectively reflect the characteristics of family enterprises internal governance mechanism and affection path.In family enterprises,family authority,as the core of familial factors,plays an important influence on corporate governance behavior,and few based on the perspective of family corporate governance mechanism is discussed.This paper,on the basis of comprehensive correlation theory,focusing on economic target and economic target of double guided by clan authority influence on corporate behavior,explores the influence of family authority influencing enterprise performance path and mechanism of action,and reveals the specificity of the family enterprise behavior,for the study of family enterprises provide a new perspective.The characteristics of both the family and the family enterprise,its management behavior is a product of the interaction.As the main component of familial factors,family authority will affect the enterprise's management behavior,but the family authority is not the same as man of ideas,which requires a thorough understanding of family enterprises governance behavior characteristics,revealing the internal relation between them.Based on related research literature,exploring the family authority,innovation investment and financing behavior and performance of the enterprise inner link,trying to explore the following:first,from the angle of social emotional wealth theory from theoretical and empirical aspects,trying to understand the inherent logic of family authority to influence business performance,based on the proven a relationship type;Second,giving priority to with family authority of familial factors on the influence of the enterprise behavior choice,and trying to explain the differences of familial enterprise governance behavior,for the study of family authority to give theoretical basis for the mechanism of action of enterprise performance;Third,giving priority to with innovation investment behavior and the financing behavior of governance behavior as the research starting point,to explore the mechanism of family authority influence enterprise performance of both plays a role.Through the empirical analysis of listed family enterprises manufacturing in this paper,the following three conclusions:(1)the authority of the family helps the ascent of the enterprise performance;(2)family authority for innovation investment and financing behavior shows different characteristics,from the perspective of social emotional wealth theory to analyze its influence path;(3)the family authority can affect enterprise performance through innovation investment and financing behavior of the mechanism of action.This article will from the family system and enterprise system two aspects to explore.In the family system,family authority is the concentrated reflection of enterprise,including the authority of family ownership and family management authority,also is the main angle of view and this paper studies the two constitutes the heterogeneity of the family enterprises.Enterprise system mainly includes the factors such as industry,size and growth stage,these factors constitute the heterogeneity of the enterprise.Family enterprises taking governance behavior reflects the family authority influence on corporate governance behavior process.Based on the innovation investment and financing behavior,this paper studies the economic target and economic target under the action of the dual mechanism of action of the authority of the family,and combination of family enterprise development stage,to explore the family enterprises through innovation influences the performance of enterprise investment and financing behavior affecting path and mechanism of action.This paper has innovation mainly includes the following points and contribution,first of all,to explore more about the family control,family involvement elements and family managers,as an analytical category in familial,in this paper,with the authority of the family as the focus of familial enterprise research,analysis of family authority in the dynamic configuration of enterprise management behavior of enterprise governance structure and corporate performance,the influence of reveal family enterprise internal governance mechanism,compared with the past simple horizontal governance characteristics of family and non-family enterprises,this can highlight the uniqueness of family business governance mechanisms;Secondly,based on the theory of social emotions wealth study in-depth analysis the mechanism of action of family authority of enterprise performance is also possible innovation points;Finally,the innovative investment and financing behavior viewed as the breakthrough point to explore the family authority influence on enterprise performance path,this enrich the research field of the authority of the family.