Investment in innovation and international entrepreneurial performances of Chinese family businesses: from the perspective of intergenerational succession

IF 2 4区管理学 Q3 BUSINESS

Asia Pacific Business Review Pub Date : 2023-08-08 DOI:10.1080/13602381.2023.2234186

Huatao Peng, Yuming Chang, Chen Zhou, Zhijian Zhang

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Abstract

ABSTRACT Innovation and international entrepreneurship are important paths for family businesses to achieve sustainable growth. However, there are few relevant studies on the development and inheritance of family businesses. This paper has taken China’s listed family businesses from 2007 to 2020 as a sample in order to explore how investment in innovation affects international entrepreneurial performances. The study found that family businesses with high investments in innovation had lower international entrepreneurial performances. When family businesses are inherited by the firstborn or managed by multiple generations, the degree of this negative impact will increase, while heirs with overseas work experience will reduce the negative impact. The gender and overseas educational experience of the heirs will not have an impact on the negative relationship. These findings emphasize the heterogeneous role of intergenerational succession, revise some traditional inheritance views of Chinese family businesses and reveal the important role of reasonable intergenerational succession strategies in coordinating innovation and international entrepreneurship.

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中国家族企业创新投资与国际创业绩效:基于代际传承的视角

创新和国际创业是家族企业实现可持续发展的重要途径。然而，关于家族企业发展与传承的相关研究却很少。本文以2007 - 2020年中国上市家族企业为样本，探讨创新投资对国际创业绩效的影响。研究发现，在创新方面投入较多的家族企业，其国际创业绩效较低。当家族企业由长子继承或由多代人管理时，这种负面影响的程度会增加，而具有海外工作经历的继承人会减少负面影响。继承人的性别和海外教育经历不会对负相关关系产生影响。这些研究结果强调了代际传承的异质性作用，修正了中国家族企业传统的传承观，揭示了合理的代际传承策略在协调创新和国际创业中的重要作用。

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来源期刊

Asia Pacific Business Review Multiple-

CiteScore

4.40

自引率

13.80%

发文量

期刊介绍： The growth of the Asia Pacific region and the rising presence of its multinationals in world markets has raised a number of questions about the origins of national economic success. Asia Pacific Business Review addresses these key issues and draws together the lessons of the analysis of culture, economies, history, politics and societies in the area, in order to explore business-related phenomena in the Asia Pacific countries, both in their general and specific contexts. The Review is intended for both academics and interested observers, contains the contributions of recognized experts, and is essential to anyone seeking the latest research on Asia Pacific business in a readily available, approachable form. We welcome articles which deal with nations and societies in the Asia Pacific region, namely those in East Asia and South-East Asia (but not South Asia), including those in APEC and ASEAN, individually or comparatively. Of interest also are contributions on the Asia Pacific economies, comparing those inside with those outside, or those investing in it. We do not, however, publish papers based solely on countries from outside the region.