Study On The Influencing Factors Of Succession Selection Of Listed Family Enterprises

Nowadays,many family businesses are facing the problem of intergenerational inheritance.Some founders of the family businesses will prefer choosing their children or other members of the family as successors to the business to choosing professional managers who are not family members.The inheritance content of the family business includes three aspects:enterprise ownership,control right,and management right.In the process of inheritance,we must overcome the resistance from the current founders,successors,family members,corporate organizations,external resources and other factors.This article summarizes the factors influencing the succession of family companies in terms of individual factors,family factors,organization factors,and resource factors.We build the entrepreneurial family company's impacting factor in choosing the successor.Using binary logistic regression model,obtaining the probability of choosing a professional manager to succeed,which is positively related to the education level of the chairman,the years of the company,and the percentage of institutional investors' shareholding,and negatively related to the chairman's shareholding ratio,the company's size,the family unit shareholding ratio,and the company's operation performanceThe factors at the individual factor have the greatest influence on the choice of successors,followed by the family factor and the organizational factor.Study the personal characteristics and shareholding ratio of the chairman of the family business,as well as the family network relationship and the family shareholding ratio and predict the future corporate governance of the family business.