{"title":"非家族股东治理与家族企业数字化转型:来自中国的证据","authors":"Shanzhong Du, Lianfu Ma, Zhuo Li, Chengcheng Ma","doi":"10.1111/corg.12517","DOIUrl":null,"url":null,"abstract":"<div>\n \n \n <section>\n \n <h3> Research Question/Issue</h3>\n \n <p>We investigate the influence of non-family shareholder governance on Chinese family firms' digital transformation strategies.</p>\n </section>\n \n <section>\n \n <h3> Research Findings/Insights</h3>\n \n <p>We use the socioemotional wealth theory to examine the impact of non-family shareholder governance on family firms' digital transformation. We find that the influence of non-family shareholder governance by appointing directors can significantly promote the implementation of digital transformation strategies through their capital and human effects in family firms. In contrast, non-family shareholders only play a positive role in family firms' digital transformation when they are blockholders. In addition, non-family shareholder governance plays a significant role in promoting the digital transformation of family firms with entrepreneurship and a high degree of industry competition. Regarding external digital development, the Broadband China policy complements family firms' digital transformation strategies. The characteristics of the appointed directors suggest that the introduction of appointed directors, an excess of appointed directors, and the inclusion of appointed directors with digital expertise can effectively promote the digital transformation of family firms. The characteristics of controlling families show that socioemotional wealth can further optimize the relationship between non-family shareholder governance and digital transformation.</p>\n </section>\n \n <section>\n \n <h3> Theoretical/Academic Implications</h3>\n \n <p>We not only verify the rationality and effectiveness of non-family shareholder governance in combination with digital transformation strategies but also further observe the impact of the heterogeneity of directors appointed by non-family shareholders on family firms' digital transformation strategies. Thus, our study tests the influence of non-family shareholder governance on digital transformation and enriches the literature on non-family shareholder governance and family firms' strategies.</p>\n </section>\n \n <section>\n \n <h3> Practitioner/Policy Implications</h3>\n \n <p>This study offers insights to family firms regarding how to effectively promote non-family shareholders' participation in corporate governance and help family firms to achieve the goal of “everlasting foundation.”</p>\n </section>\n </div>","PeriodicalId":48209,"journal":{"name":"Corporate Governance-An International Review","volume":null,"pages":null},"PeriodicalIF":4.6000,"publicationDate":"2023-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Non-family shareholder governance and the digital transformation of family firms: Evidence from China\",\"authors\":\"Shanzhong Du, Lianfu Ma, Zhuo Li, Chengcheng Ma\",\"doi\":\"10.1111/corg.12517\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div>\\n \\n \\n <section>\\n \\n <h3> Research Question/Issue</h3>\\n \\n <p>We investigate the influence of non-family shareholder governance on Chinese family firms' digital transformation strategies.</p>\\n </section>\\n \\n <section>\\n \\n <h3> Research Findings/Insights</h3>\\n \\n <p>We use the socioemotional wealth theory to examine the impact of non-family shareholder governance on family firms' digital transformation. We find that the influence of non-family shareholder governance by appointing directors can significantly promote the implementation of digital transformation strategies through their capital and human effects in family firms. In contrast, non-family shareholders only play a positive role in family firms' digital transformation when they are blockholders. In addition, non-family shareholder governance plays a significant role in promoting the digital transformation of family firms with entrepreneurship and a high degree of industry competition. Regarding external digital development, the Broadband China policy complements family firms' digital transformation strategies. The characteristics of the appointed directors suggest that the introduction of appointed directors, an excess of appointed directors, and the inclusion of appointed directors with digital expertise can effectively promote the digital transformation of family firms. The characteristics of controlling families show that socioemotional wealth can further optimize the relationship between non-family shareholder governance and digital transformation.</p>\\n </section>\\n \\n <section>\\n \\n <h3> Theoretical/Academic Implications</h3>\\n \\n <p>We not only verify the rationality and effectiveness of non-family shareholder governance in combination with digital transformation strategies but also further observe the impact of the heterogeneity of directors appointed by non-family shareholders on family firms' digital transformation strategies. Thus, our study tests the influence of non-family shareholder governance on digital transformation and enriches the literature on non-family shareholder governance and family firms' strategies.</p>\\n </section>\\n \\n <section>\\n \\n <h3> Practitioner/Policy Implications</h3>\\n \\n <p>This study offers insights to family firms regarding how to effectively promote non-family shareholders' participation in corporate governance and help family firms to achieve the goal of “everlasting foundation.”</p>\\n </section>\\n </div>\",\"PeriodicalId\":48209,\"journal\":{\"name\":\"Corporate Governance-An International Review\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":4.6000,\"publicationDate\":\"2023-03-19\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Corporate Governance-An International Review\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://onlinelibrary.wiley.com/doi/10.1111/corg.12517\",\"RegionNum\":3,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Corporate Governance-An International Review","FirstCategoryId":"91","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/corg.12517","RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
Non-family shareholder governance and the digital transformation of family firms: Evidence from China
Research Question/Issue
We investigate the influence of non-family shareholder governance on Chinese family firms' digital transformation strategies.
Research Findings/Insights
We use the socioemotional wealth theory to examine the impact of non-family shareholder governance on family firms' digital transformation. We find that the influence of non-family shareholder governance by appointing directors can significantly promote the implementation of digital transformation strategies through their capital and human effects in family firms. In contrast, non-family shareholders only play a positive role in family firms' digital transformation when they are blockholders. In addition, non-family shareholder governance plays a significant role in promoting the digital transformation of family firms with entrepreneurship and a high degree of industry competition. Regarding external digital development, the Broadband China policy complements family firms' digital transformation strategies. The characteristics of the appointed directors suggest that the introduction of appointed directors, an excess of appointed directors, and the inclusion of appointed directors with digital expertise can effectively promote the digital transformation of family firms. The characteristics of controlling families show that socioemotional wealth can further optimize the relationship between non-family shareholder governance and digital transformation.
Theoretical/Academic Implications
We not only verify the rationality and effectiveness of non-family shareholder governance in combination with digital transformation strategies but also further observe the impact of the heterogeneity of directors appointed by non-family shareholders on family firms' digital transformation strategies. Thus, our study tests the influence of non-family shareholder governance on digital transformation and enriches the literature on non-family shareholder governance and family firms' strategies.
Practitioner/Policy Implications
This study offers insights to family firms regarding how to effectively promote non-family shareholders' participation in corporate governance and help family firms to achieve the goal of “everlasting foundation.”
期刊介绍：
The mission of Corporate Governance: An International Review is to publish cutting-edge international business research on the phenomena of comparative corporate governance throughout the global economy. Our ultimate goal is a rigorous and relevant global theory of corporate governance. We define corporate governance broadly as the exercise of power over corporate entities so as to increase the value provided to the organization"s various stakeholders, as well as making those stakeholders accountable for acting responsibly with regard to the protection, generation, and distribution of wealth invested in the firm. Because of this broad conceptualization, a wide variety of academic disciplines can contribute to our understanding.
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