代际传承对家族企业诉讼风险的影响研究

Research on the Impact of Intergenerational Succession in Family Enterprises on Litigation Risk

传播影响力
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作者:

赵燕琳

导师:

陈刚

导师单位:

经济学院(数字经济学院)

学位:

硕士

语种:

中文

关键词:

家族企业;代际传承;社会情感财富;诉讼风险;企业声誉

摘要:

自改革开放以来,以家族经营为特点的民营企业在中国迅速发展,民营经济对国家税收的贡献率占大半壁江山,民营经济发展前景广阔、大有可为。在民营企业中,家族企业占据多数,然而家族企业的长期生存始终是一大难题。代际传承是其中重要一环,却存在很高失败风险。当前,中国家族企业正迎来掌权人权力交接的高峰期。对于家族企业而言,为了实现子辈与父辈权力的顺利交接,其具有维持良好企业声誉的动力,而良好的企业声誉能向其利益相关者传递信任与合作信号,减少各类不确定风险事件的发生。随着现代法制的不断完善,诉讼风险成为企业难以规避的主要风险之一,对企业声誉及长期发展存在不利影响。那么,家族企业若欲实现成功传承,是否会为了维护良好企业声誉,秉持更为审慎的经营策略,尽可能减少卷入企业司法争端,进而降低企业所面临的诉讼风险呢?本文将家族企业渴望实现“基业长青”作为研究出发点,深入剖析在代际传承和非传承过程中,企业诉讼风险的变化。既拓展了家族企业和诉讼风险研究视角,又为实现家族企业成功延续提供了保障,对我国经济总体发展具有重要意义。具体做法如下:首先,本文对前人研究进行梳理和探讨,明晰本文相关名词的概念界定和研究样本范围,并整理家族企业、诉讼风险和企业声誉研究相关文献。再通过理论论证家族企业代际传承到诉讼风险的逻辑关系,并提出假说。进一步地,收集、筛选2000年-2022年上市家族企业数据并构建双重差分模型进行实证检验,并进行了一系列稳健型检验:平行趋势检验、重新界定家族企业、增加仲裁数据、剔除公司为原告的数据、重新定义家族传承阶段、窗口期缩窄与样本缩尾和替换被解释变量。然后,以一代是否有儿子作为工具变量以及使用PSM-DID来缓解模型的内生性。并使用企业声誉作为中介变量,检验其在代际传承对诉讼风险影响的中介效应,再进一步分析探讨企业不同生命周期阶段、传承阶段、儒家文化以及媒体关注度上的差异。本文研究发现:第一,无论是诉讼案件数还是诉讼金额,家族企业在代际传承中会显著降低企业诉讼风险,并通过了一系列稳健性检验。第二,“企业声誉”在家族企业代际传承对诉讼风险的影响中存在部分中介效应。第三,企业代际传承对诉讼风险的影响在不同生命周期和传承阶段具有不同表现。处于成长期的企业对代际传承带来的诉讼风险降低具有抑制作用,成熟期企业无明显变化,而处于衰退期的企业具有显著促进作用;当企业传承处于培养阶段和完成接班阶段时,诉讼风险并未显著降低,但在接班阶段能显著降低诉讼风险。第四,创始人、董事长或总经理的出生地或户籍地的儒家文化越浓烈,会显著促进企业诉讼风险降低。高的媒体关注度对诉讼案件数没有明显作用,但对诉讼金额降低有明显促进作用。本文的研究,扩展了家族企业代际传承和公司诉讼风险视角,并深入挖掘家族企业在不同情境下的异质表现,对家族企业成功实现代际传承具有指导意义。家族企业应当提前制定代际传承计划,培育合格二代继承人,选择稳定的成熟期开始安排传承事宜。充分发挥家族企业“代际王朝”动机,树立良好企业形象,关注利益相关者动态。同时,企业需要加强内部治理,提高信息透明度,减小发生风险事件概率,顺利度过传承期。国家相关部门也应该优化法制环境,出台相关政策、法规,加强企业合规管理,减少风险事件。

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学科:

应用经济学

提交日期

2025-05-25

引用参考

赵燕琳. 代际传承对家族企业诉讼风险的影响研究[D]. 西南政法大学,2025.

全文附件授权许可

知识共享许可协议-署名

  • dc.title
  • 代际传承对家族企业诉讼风险的影响研究
  • dc.title
  • Research on the Impact of Intergenerational Succession in Family Enterprises on Litigation Risk
  • dc.contributor.schoolno
  • 20220202000047
  • dc.contributor.author
  • 赵燕琳
  • dc.contributor.affiliation
  • 经济学院(数字经济学院)
  • dc.contributor.degree
  • 硕士
  • dc.contributor.childdegree
  • 经济学硕士学位
  • dc.contributor.degreeConferringInstitution
  • 西南政法大学
  • dc.identifier.year
  • 2025
  • dc.contributor.direction
  • 家族企业;法经济学
  • dc.contributor.advisor
  • 陈刚
  • dc.contributor.advisorAffiliation
  • 经济学院(数字经济学院)
  • dc.language.iso
  • 中文
  • dc.subject
  • 家族企业,代际传承,社会情感财富,诉讼风险,企业声誉
  • dc.subject
  • Family enterprises; Intergenerational succession; Socioemotional wealth; Litigation risks; Corporate reputatio
  • dc.description.abstract
  • 自改革开放以来,以家族经营为特点的民营企业在中国迅速发展,民营经济对国家税收的贡献率占大半壁江山,民营经济发展前景广阔、大有可为。在民营企业中,家族企业占据多数,然而家族企业的长期生存始终是一大难题。代际传承是其中重要一环,却存在很高失败风险。当前,中国家族企业正迎来掌权人权力交接的高峰期。对于家族企业而言,为了实现子辈与父辈权力的顺利交接,其具有维持良好企业声誉的动力,而良好的企业声誉能向其利益相关者传递信任与合作信号,减少各类不确定风险事件的发生。随着现代法制的不断完善,诉讼风险成为企业难以规避的主要风险之一,对企业声誉及长期发展存在不利影响。那么,家族企业若欲实现成功传承,是否会为了维护良好企业声誉,秉持更为审慎的经营策略,尽可能减少卷入企业司法争端,进而降低企业所面临的诉讼风险呢?本文将家族企业渴望实现“基业长青”作为研究出发点,深入剖析在代际传承和非传承过程中,企业诉讼风险的变化。既拓展了家族企业和诉讼风险研究视角,又为实现家族企业成功延续提供了保障,对我国经济总体发展具有重要意义。具体做法如下:首先,本文对前人研究进行梳理和探讨,明晰本文相关名词的概念界定和研究样本范围,并整理家族企业、诉讼风险和企业声誉研究相关文献。再通过理论论证家族企业代际传承到诉讼风险的逻辑关系,并提出假说。进一步地,收集、筛选2000年-2022年上市家族企业数据并构建双重差分模型进行实证检验,并进行了一系列稳健型检验:平行趋势检验、重新界定家族企业、增加仲裁数据、剔除公司为原告的数据、重新定义家族传承阶段、窗口期缩窄与样本缩尾和替换被解释变量。然后,以一代是否有儿子作为工具变量以及使用PSM-DID来缓解模型的内生性。并使用企业声誉作为中介变量,检验其在代际传承对诉讼风险影响的中介效应,再进一步分析探讨企业不同生命周期阶段、传承阶段、儒家文化以及媒体关注度上的差异。本文研究发现:第一,无论是诉讼案件数还是诉讼金额,家族企业在代际传承中会显著降低企业诉讼风险,并通过了一系列稳健性检验。第二,“企业声誉”在家族企业代际传承对诉讼风险的影响中存在部分中介效应。第三,企业代际传承对诉讼风险的影响在不同生命周期和传承阶段具有不同表现。处于成长期的企业对代际传承带来的诉讼风险降低具有抑制作用,成熟期企业无明显变化,而处于衰退期的企业具有显著促进作用;当企业传承处于培养阶段和完成接班阶段时,诉讼风险并未显著降低,但在接班阶段能显著降低诉讼风险。第四,创始人、董事长或总经理的出生地或户籍地的儒家文化越浓烈,会显著促进企业诉讼风险降低。高的媒体关注度对诉讼案件数没有明显作用,但对诉讼金额降低有明显促进作用。本文的研究,扩展了家族企业代际传承和公司诉讼风险视角,并深入挖掘家族企业在不同情境下的异质表现,对家族企业成功实现代际传承具有指导意义。家族企业应当提前制定代际传承计划,培育合格二代继承人,选择稳定的成熟期开始安排传承事宜。充分发挥家族企业“代际王朝”动机,树立良好企业形象,关注利益相关者动态。同时,企业需要加强内部治理,提高信息透明度,减小发生风险事件概率,顺利度过传承期。国家相关部门也应该优化法制环境,出台相关政策、法规,加强企业合规管理,减少风险事件。
  • dc.description.abstract
  • Since the reform and opening up, private enterprises characterized by family management have rapidly developed in China. The private economy contributes more than half of the national tax revenue, demonstrating broad development prospects and great potential. Among private enterprises, family firms account for the majority. However, ensuring their long-term survival remains a significant challenge. Generational succession is a critical component, yet it carries high risks of failure. Currently, Chinese family firms are entering a peak period of power transfer among leaders. To achieve a smooth transition of power between generations, family firms have incentives to maintain a good corporate reputation, which sends signals of trust and cooperation to stakeholders and reduces the occurrence of uncertain risk events. With the continuous improvement of modern legal systems, litigation risk has become one of the major risks that enterprises can hardly avoid, exerting adverse effects on corporate reputation and long-term development. Therefore, to achieve successful succession, will family firms adopt more prudent business strategies to maintain a good corporate reputation, minimize involvement in judicial disputes, and thereby reduce litigation risks?Taking the aspiration of family firms to achieve "everlasting prosperity" as the research starting point, this paper deeply analyzes changes in corporate litigation risks during and outside generational succession. It not only expands the research perspectives on family firms and litigation risks but also provides guarantees for the successful continuation of family firms, holding significant implications for China's overall economic development. The specific approach is as follows: First, this paper reviews and discusses previous studies to clarify the conceptual definitions of relevant terms and the scope of research samples, and collates literature related to family firms, litigation risks, and corporate reputation. Second, it theoretically demonstrates the logical relationship between generational succession in family firms and litigation risks and proposes hypotheses. Third, it collects and screens data of listed family firms from 2000 to 2022, constructs a difference-in-differences (DID) model for empirical testing, and conducts a series of robustness tests: parallel trends test, redefining family firms, adding arbitration data, excluding cases where the company is the plaintiff, redefining family succession stages, narrowing the window period & sample winsorization, and replacing the dependent variable. Fourth, it uses whether the founder has a son as an instrumental variable and applies PSM-DID to mitigate endogeneity issues. Fifth, it uses corporate reputation as a mediating variable to test its mediating effect in the impact of generational succession on litigation risks. Finally, it further explores differences in corporate life cycle stages, succession phases, Confucian culture, and media attention.The study finds that: (1) Both the number of litigation cases and the amount involved significantly decrease during generational succession in family firms, as confirmed by multiple robustness tests. (2) "Corporate reputation" partially mediates the impact of generational succession on litigation risks. (3) The effect of generational succession on litigation risks varies across corporate life cycle stages and succession phases. Growth-stage firms show inhibitory effects on reduced litigation risks during succession, mature-stage firms exhibit no significant changes, while decline-stage firms demonstrate significant promotional effects. Litigation risks do not decrease significantly during the cultivation and post-succession stages, but decrease significantly during the succession phase. (4) Stronger Confucian cultural influence in the founder's, chairman's, or CEO's birthplace or household registration location significantly promotes reductions in litigation risks. High media attention has no significant effect on the number of litigation cases but significantly promotes reductions in litigation amounts.This research expands the perspectives on generational succession in family firms and corporate litigation risks, and deeply explores the heterogeneous performance of family firms under different scenarios, providing guidance for their successful generational succession. Family firms should formulate succession plans in advance, cultivate qualified next-generation successors, and initiate succession arrangements during stable maturity stages. They should leverage the "dynastic" motivation to build positive corporate images and monitor stakeholder dynamics. Additionally, enterprises need to strengthen internal governance, enhance information transparency, and reduce risk event probabilities to navigate succession periods smoothly. Relevant government departments should also optimize the legal environment, introduce policies and regulations, and strengthen corporate compliance management to minimize risk events.
  • dc.date.issued
  • 2025-05-25
  • dc.date.oralDefense
  • 2025-05-15
  • dc.relation.citedreferences
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