Religious Tradition,legalization Process And Enterprise Independent Innovation

This paper focuses on the influence mechanism of corporate governance behavior of family enterprises,and mainly discusses the influence of interaction between informal system and formal system on independent innovation behavior of family enterprises in the period of social and economic transition.In this paper,family enterprises listed on the main board from 2013 to 2017 were selected as research samples,and empirical research was conducted using data such as the intensity of religious tradition and market index in the headquarters of family listed companies,to explore the influence mechanism of religious tradition in the location of family enterprises on the independent innovation behavior of family enterprises.After that,the study investigated whether there were differences in this effect in regions with different levels of legalization.Finally,a series of robustness tests were conducted to improve the reliability of the results.The empirical results show that the stronger the religious traditional atmosphere where the family business headquarters is located,the weaker the independent innovation ability of the family business is,including the innovation input and innovation output.At the same time,in regions with higher level of legalization,the inhibitory effect of religious tradition on the level of independent innovation ability of family enterprises is weaker,and vice versa.Further analysis shows that the higher the level of internationalization,the weaker the influence of local religious traditions on the level of independent innovation investment of family enterprises.Compared with the family enterprises in the central and western regions,the investment level of independent innovation of the family enterprises in the eastern coastal areas is less affected by the local religious tradition.The larger the scale of the enterprise,the stronger the influence of the local religious traditional atmosphere on the level of independent innovation investment of the family enterprise.Compared with appearance design and other patents,utility model patents and invention patents in the innovation output of family enterprises are more influenced by the local religious atmosphere.This study provides a new perspective for the study of family business governance behavior,and provides a new approach for the explanation of family business governance behavior by the social emotional wealth theory(SEW),which enriches the literature in the field of family business research.