【摘要】：運用社會情感財富理論,本文提出了創(chuàng)始人政治身份促進(jìn)中國家族企業(yè)控制權(quán)代際鎖定的兩種機(jī)理,即企業(yè)政治資本積累假說和社會情感財富維護(hù)假說。以2003—2015年上市家族企業(yè)為樣本的混合截面數(shù)據(jù)分析結(jié)果表明,創(chuàng)始人政治身份顯著增加了繼承人擔(dān)任公司董事長或總經(jīng)理的可能性,創(chuàng)始人政治身份促進(jìn)家族企業(yè)控制權(quán)的代際鎖定。進(jìn)一步分析結(jié)果表明,上述兩種機(jī)制并存:創(chuàng)始人政治身份給家族企業(yè)帶來融資便利、政府補助等經(jīng)濟(jì)利益,成為家族企業(yè)積累政治資本的渠道,這提供了支持企業(yè)政治資本積累假說的證據(jù),因為企業(yè)政治資本有助于提升家族企業(yè)代際傳承意愿和家族的社會情感財富;創(chuàng)始人更有可能把政治身份轉(zhuǎn)移給繼承人而非家族外人士的職業(yè)經(jīng)理人,這提供了支持社會情感財富維護(hù)假說的證據(jù),因為企業(yè)家政治身份代際轉(zhuǎn)移成為中國情景下家族維護(hù)衍生于創(chuàng)始人政治身份社會情感財富的途徑。本文揭示了民營企業(yè)家參政議政這項富有中國特色的政治制度安排影響家族企業(yè)代際傳承的理論機(jī)理,豐富了政企關(guān)系和社會情感財富的研究文獻(xiàn)。
[Abstract]:Based on the theory of social affective wealth, this paper puts forward two kinds of mechanisms that the founder's political identity promotes the intergenerational locking of the control rights of Chinese family enterprises, namely, the hypothesis of the accumulation of corporate political capital and the hypothesis of maintaining social affective wealth. The mixed cross-section data analysis, based on a sample of listed family businesses from 2003 to 2015, shows that the political identity of the founder significantly increases the likelihood that the successor will be chairman or general manager of the company. The political identity of the founder promotes the intergenerational locking of the control rights of the family business. The results of further analysis show that the above two mechanisms coexist: the political identity of the founder brings financing convenience to the family business, government subsidy and other economic benefits, which become the channel for the family business to accumulate political capital. This provides evidence to support the hypothesis of corporate political capital accumulation, because corporate political capital helps to enhance the will of family enterprises to inherit intergenerational and family social emotional wealth; Founders are more likely to shift their political identity to professional managers who are heirs than outsiders, providing evidence to support the social emotional wealth preservation hypothesis. Because the political identity of entrepreneurs is transferred from generation to generation, which is the way for families to maintain the social affective wealth derived from the founder's political identity. This paper reveals the theoretical mechanism of private entrepreneurs' participation in politics and politics, which is a political system with Chinese characteristics, which affects the intergenerational inheritance of family enterprises, and enriches the research literature on the relationship between government and enterprises and social affective wealth.
【作者單位】： 浙江財經(jīng)大學(xué)金融學(xué)院;浙江大學(xué)民營經(jīng)濟(jì)研究中心;上海財經(jīng)大學(xué)中國公共財政研究院;
【基金】：國家自然科學(xué)基金面上項目“政治資本代際轉(zhuǎn)移及其影響家族企業(yè)成長機(jī)理研究”(批準(zhǔn)號71572172) 教育部人文社會科學(xué)重點研究基地浙江大學(xué)民營經(jīng)濟(jì)中心—浙江大學(xué)恒逸基金項目“家族企業(yè)政治資本代際轉(zhuǎn)移研究”(批準(zhǔn)號2015CRPE-HY02) 浙江省哲學(xué)社會科學(xué)規(guī)劃課題重點項目“政治資本代際轉(zhuǎn)移與家族企業(yè)持續(xù)成長:理論機(jī)理與浙江經(jīng)驗數(shù)據(jù)”(批準(zhǔn)號15NDJC013Z)
【分類號】：D0;F276.5
，

本文編號：2276977