Research On The Intergenerational Succession Model Of Family Business Based On The Socioemotional Wealth(SEW)

At the present stage,the family business of our country has entered the peak of the intergenerational transmission.An increasing number of family businesses are going to face with the problem of enterprise handover.How to realize the well-off handover of the family business and finish the smooth transition between enterprise generations have become the focus concerned by more and more scholars and entrepreneurs.As a new theory in the field of family business,Socioemotional Wealth(SEW)theory has attracted a widespread attention because of its family characteristics.It has gradually become the dominant explanation framework of family business research field since it was put forward in 2007.In this paper,the hot issue in the field of family business research is combined with the hotspot theory.Family business is taken as the object of study.The intergenerational transmission of family business has been deeply studied based on the theory of SEW.Firstly,the paper reviewed the relevant research about the rise,connotation,theoretical dimension of SEW as an emerging theory.Secondly,it analyzes the relevant literatures about the selection of successor,transmission motivation and influencing factors in the field of intergenerational transmission in family business.Based on the above theoretical analysis,this paper explores the theoretical gap and constructs a preliminary theoretical model to clarify the research direction.The research method of this paper is theoretical model construction and multi-case study.Selecting nine family businesses as research objects,this paper designs an interview outline,conducts in-depth research and semi-structured interview on the subjects to collect primary and secondary data.Then,using grounded theory to encode and analyze data,puts forward the theoretical proposition and discuss the results of the research.Finally,a theoretical model between the SEW and intergenerational inheritance in family business is constructed.This paper further analyzes the connotation of each dimension of SEW by analyzing the cases,and finds out the connection between the Preface-structure theory and the intergenerational inheritance of family business.Seven kinds of inheritance models for family business are summarized from the perspective of ownership and management right,meanwhile the motivation of every model is analyzed from the perspective of SEW.The results show that four dimensions of SEW have influence on the intergenerational transmission of family business: family control and influence,emotional attachment,renewal of family bonds to the firm through dynastic succession and family members' identification with the firm.At last,the study also summarizes the roadblocks from family,enterprises and professional managers in the process of inheritance enterprise.