女儿继任对家族企业长期导向韧性的影响研究

The Impact of Daughter Succession on the Long-Term Orientation Perseverance of Family Firms

摘要: 家族企业已步入代际传承的紧要关头，如何保持高韧性以应对内外部环境动荡尤为重要。随着女性继承人逐渐崭露头角，子承父业已不再是家族的唯一选择。因此，通过实证分析2012~2022年间上市家族企业的数据，深入探讨了女儿继任对家族企业长期导向韧性的影响，研究发现女儿继任能够显著提升企业的长期导向韧性，其中风险偏好和家族归属感在两者关系中起到了中介作用。本文的研究结论也为家族企业的传承和长期导向韧性提供了新的视角。

Abstract: As family businesses enter the critical juncture of intergenerational succession, it is particularly important to maintain a high degree of perseverance in the face of turbulence in the internal and external environment. With the emergence of female heirs, the inheritance of children is no longer the only option for the family. Therefore, by empirically analyzing the data of listed family firms from 2012 to 2022, this paper deeply explores the impact of daughter succession on the long-term orientation perseverance of family firms, and finds that daughter succession can significantly improve the long-term orientation perseverance of enterprises, in which risk appetite and family belonging play a mediating role in the relationship between the two. The conclusions of this paper also provide a new perspective on the succession and long-term perseverance of family firms.