家族企业传承方式对企业绩效的影响研究

Research on the Impact of Family Business Succession on Firm Performance

摘要: 改革开放近40年，家族企业成为推动国民经济发展的重要力量。随着“创一代”渐老，接班人选择成为焦点。家族企业传承不仅关乎企业，更影响国家经济。本文基于内部传承与外部传承这两种传承方式，研究选择不同的接班人对企业绩效产生的影响。本研究采用描述性统计、关联性分析、多元回归分析、稳健性检验等统计方法，以解决了2018~2020年上市家族企业为研究样本，研究各种传承模式对家族企业业绩的影响。通过实证研究得出以下结论：第一、选择家族内部成员作为接班人对企业绩效产生积极的影响；第二、选择职业经理人作为接班人对企业绩效产生消极的影响。根据研究的结论也提出了几点关于家族企业选择传承方式的建议。

Abstract: In the past 40 years of reform and opening up, family businesses have become an important force in promoting the development of the national economy. As the “Founding Generation” grows older, the successor choice becomes the focus. Family business succession is not only about the business, but also about the country’s economy. Based on two inheritance methods, internal succession and external succession, this paper studies the impact of choosing different successors on firm performance. In this study, descriptive statistics, correlation analysis, multiple regression analysis, robustness test and other statistical methods were used to solve the problem of listed family enterprises from 2018 to 2020 as the research sample to study the impact of various inheritance models on the performance of family firms. Through empirical research, the following conclusions are drawn: first, the selection of family members as successors has a positive impact on firm performance, and second, the selection of professional managers as successors has a negative impact on firm performance. Based on the conclusions of the study, several suggestions are also put forward for the selection of succession methods for family businesses.