Management innovations in family firms after CEO successions: Evidence from Japanese SMEs

IF 1.3 4区经济学 Q3 ECONOMICS

Japan and the World Economy Pub Date : 2023-06-01 DOI:10.1016/j.japwor.2023.101189

Hirofumi Uchida , Kazuo Yamada , Alberto Zazzaro

引用次数: 0

Abstract

We examine management innovation of family and non-family firms after CEO successions by using data of small- and medium-sized enterprises (SMEs) in Japan. Consistent with predictions based on the resource-based view and agency theory, we find that family firms managed by non-family professional CEO successors are less innovative than those managed by family CEO successors or non-family firms. Further analyses indicate that limited access to family-based resources is a key determinant of the conservativeness of professional CEO successors. Our findings suggest the importance of the congruence of ownership and management in family firms due to CEOs’ access to family-based resources.

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CEO继任后家族企业的管理创新——来自日本中小企业的证据

本文利用日本中小企业的数据，考察了家族企业和非家族企业在CEO继任后的管理创新。与基于资源基础观点和代理理论的预测一致，我们发现由非家族职业CEO继任者管理的家族企业的创新能力低于由家族CEO继任者或非家族企业管理的家族企业。进一步的分析表明，获得基于家庭的资源的机会有限是专业首席执行官继任者保守性的关键决定因素。我们的研究结果表明，由于ceo能够获得基于家族的资源，家族企业所有权和管理一致性的重要性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Japan and the World Economy ECONOMICS-

CiteScore

2.60

自引率

0.00%

发文量

审稿时长

46 days

期刊介绍： The increase in Japan share of international trade and financial transactions has had a major impact on the world economy in general and on the U.S. economy in particular. The new economic interdependence between Japan and its trading partners created a variety of problems and so raised many issues that require further study. Japan and the World Economy will publish original research in economics, finance, managerial sciences, and marketing that express these concerns.