Analysis Of The Intergenerational Inheritance Path And Financial Effect Of Tacit Knowledge In Family Business

The family firm is currently one of the most common forms of business organization in the world and occupies a decisive position in China's economy.With the growth of the age of the first generation founders and the development of the economic era,intergenerational inheritance has become a major problem for many family firms as inter-generational inheritance affects the corporate performance,overall strategies,and long-term development of the company.If the successor can effectively absorb and transform the tacit knowledge provided by the previous generation and combine it with his or her own capabilities,it will often bring about innovative results and good corporate performance.Based on the case study method and content analysis method,this thesis will carry out a study on New Hope Liu he Co.,Ltd.Firstly,classify and encode the collected data according to the dimensions of tacit knowledge mentioned in previous literature.Secondly,uses the SECI model to explain the path of several stages during inheriting tacit knowledge from the first generation founder to the next generation,different tacit knowledge has different inheritance paths :the inheritance path of entrepreneurship is closely related to entrepreneurial activities and the process of entrepreneurship communication;the inheritance path of succession of honesty and good learning focus on the willingness of the two generations to communicate;personal social capital inheritance path emphasizes interaction practice and close communication.Then,from the perspective of resource-based theory,tacit knowledge is used as a special resource,a inheritance model of the impact of tacit knowledge resources on performance is established and evaluate the effects of inheritance.Finally make recommendations on the successful inheritance of family firms' tacit knowledge.