Family Business Intergenerational Inheritance,Governance Level And Corporate Performances

The reform and opening-up policy has been going on for more than 40 years,and the family business that has grown along with it has also developed rapidly,but now it is facing the climax of intergenerational inheritance.What kind of intergenerational inheritance method is chosen,how to cultivate the family business successor,what characteristics should be adopted by the family business successor,which is the problem that currently plagues many family business founders.The ability of companies to make intergenerational heritage is critical for family businesses,founders and successors,especially for small and medium-sized family businesses.The academic research on the intergenerational inheritance of family business has been uninterrupted,but the research on family business after intergenerational inheritance has not yet formed a unified conclusion,and it has not considered the influence of successor characteristics on the intergenerational inheritance of family business.The internal system only selects some single variables of corporate governance and does not reflect the overall level of governance.This article is based on this kind of realistic thinking,combined with the corresponding research results and theories,trying to find out how the family business's intergenerational inheritance and successor characteristics affect the business operation,and based on this research,the article further from the internal control system to discuss the importance of corporate governance mechanism to the intergenerational inheritance and succession of family businesses.This paper studies the relationship between intergenerational inheritance,successor characteristics and corporate performance through the data of listed family enterprises,and finds that:(1)intergenerational inheritance is positively related to corporate performance;(2)family business successor characteristics and corporate performance exists relationship:(3)The level of corporate governance can have a regulatory effect between the intergenerational inheritance of family businesses,the characteristics of successors and corporate performance.Therefore,through research,some conclusions can be drawn that the influence of intergenerational inheritance of family business on corporate performance is not that traditional views are considered to be unfavorable to corporate performance,intergenerational inheritance can improve corporate performance,and some characteristics of family business successors will affect generation.Inheritance of corporate performance,so for the succession of family business successors,it is necessary to consider the training model of successors from some background characteristics of the successor.At the same time,for the governance of family business,the governance level of family business can play a regulatory role in the relationship between intergenerational inheritance and corporate performance.Therefore,family enterprises should establish a sound governance mechanism in the future development to improve the incentives of enterprises.Level of supervision.