「傳幫帶」式繼任與家族企業研發投入

Succession and Innovation Input in Family Firm

現有研究就家族企業繼任如何影響研發的觀點莫衷一是。在細分繼任過程的基礎上，探究繼任不同階段對研發的影響與制度環境的調節效應。基於2006－2015年上市家族公司資料的研究顯示：相較於未發生繼任的家族企業，二代繼任有利於研發增加。具體地，繼任過程的三階段對研發存在不同作用：參與、共同管理階段的影響是消極的，接收管理階段的影響是積極的。進一步研究發現，繼任不同階段對研發投入的影響受制度環境影響。趨於完善的制度環境一方面弱化參與、共同管理階段與研發間的負相關，另一方面增強接收管理階段與研發間的正相關。上述結果深化了我們對於繼任過程創新問題的認識，且表明繼任過程的創新問題不能僅局限於企業內部，還需關注制度的作用。

Based on the sample of Chinese public listed family firm between 2006 and 2015, it studied the relationship between different stages of succession and innovation input, and then investigated the moderating role of institutional environment in the relationship between different stages of succession and innovation input. The result shows that compared to family firms without succession, family firms with succession are beneficial for innovation input. Specifically, the impact of participating in and common management stage is negative, and the influence of the taking over stage is positive. Further research has also verified the moderating effect of institutional environment. This study helps to deepen the understanding of innovation input during the succession of family firm.