研究速递｜ETP 2021年第4期文献摘要

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本期分享ETP 2021年第4期文献摘要。后台回复“20210827”即可获取原文献PDF版。

目录 CONTENTS

• Family business growth around the world

• 家族企业在世界各地的发展

• Do Family Firms Have Higher or Lower Deal Valuations? A Contextual Analysis

• 家族企业的交易估值是高还是低?一个情境分析

• An Intergeneration Solidarity Perspective on Succession Intentions in Family Firms

• 家族企业继承意愿的代际团结视角

• Differences in Family-Owned SMEs’ Ethical Behavior: A Mixed Gamble Perspective of Family Firm Tax Evasion

• 家族中小企业道德行为的差异:家族企业逃税的混合赌博视角

• Different Strokes for Different Folks: The Roles of Religion and Tradition for Transgenerational Entrepreneurship in Family Businesses

• 萝卜青菜各有所爱:宗教和传统在家族企业跨代创业中的作用

• Entrepreneurial Orientation and Family Firm Performance: The Moderating Role of TMT Identity-Based and Knowledge-Based Faultline

• 创业导向与家族企业绩效:TMT身份和知识断层线的调节作用

• Family influence and digital business model innovation: the enabling role of dynamic capabilitie

• 家族影响力与数字商业模式创新:动态能力的赋能作用

• A Dynamic Framework of Noneconomic Goals and Inter-Family Agency Complexities inMulti-Family Firms

• 多家族企业非经济目标与家族间代理复杂性的动态框架

Family business growth around the world

家族企业在世界各地的发展

摘要：

增长对企业的长期成功至关重要。遗憾的是，家族影响力对企业成长的影响在很大程度上被忽视了。我们研究了家族企业是否比非家族企业有更高的增长率。基于对43个国家的大样本公司进行为期10年的研究,我们发现,家族企业平均增长率高于非家族企业, 这种积极的影响对于那些在较不腐败、更民主、更服从法治、具有有效政府政策的强大国家制度环境中运营的家族企业更大。研究还发现，不同类型的家族企业和不同的商业周期中，家族影响力对企业成长的积极作用存在显著差异。这些研究结果表明，家族控制对企业增长率具有显著的经济影响，对家族企业理论和实践都具有重要意义。

Growth is important for the long-term success of a business. Regrettably, the impact of family influence on firm growth is largely neglected. We examine whether family firms have a higher growth rate than their nonfamily counterparts. Based on a large sample of firms across 43 countries over a l0-year period, we show that family firms on average have higher growth rates than nonfamily firms, and this positive effect is greater for family firms operating in strong national institutional environments which are less corrupt, more democratic, more subject to rule of law, and have effective government policies. We also find that the positive effect of family influence on firm growth varies significantly across different types of family firms and different business cycles. These findings show that family control has an economically significant impact on growth rates and important implications for both family firm theory and practice.

关键词：

家族公司成长；制度背景；家族企业；社会情感财富；家族公司

文献来源：

Miroshnychenko, I., De Massis, A., Miller, D., & Barontini, R. (2021). Family business growth around the world. Entrepreneurship Theory and Practice, 45(4), 682-708.

Do Family Firms Have Higher or Lower Deal Valuations? A Contextual Analysis

家族企业的交易估值是高还是低?一个情境分析

摘要：

家族企业的社会情感财富(SEW)是如何影响并购交易估值的?使用2003-2016年期间标普500公司515笔完成交易的样本，我们研究了一些情境，发现SEW创造了家族企业相对于非家族企业的目标估值差异。特别是从国际化角度来看，并购可能是家族企业的理想选择，因为国外并购可能与核心企业松散耦合。对家族治理异质性的事后分析表明，创始人和后代董事会主席对社会情感财富持有不同的看法。

How does the socioemotional wealth (SEW) of a family firm affect its deal valuation in acquisition? Using a sample of 515 completed transactions of S&P 500 firms over the period 2003-2016, we examine a number of contexts and find that SEW creates differential valuations of targets by family firms vis-a-vis non-family firms. Particularly from an internationalization perspective, acquisitions may be an ideal option for family firms because foreign acquisitions may be loosely coupled from the core firm. Post-hoc analyses on the heterogeneity in family governance reveal that founder and descendant board chairs may have different perceptions of SEW.

关键词：

家族企业；并购；交易估值；国际化；社会情感财富；松散耦合

文献来源：

Haider, Z. A., Li, J., Wang, Y., & Wu, Z. (2021). Do family firms have higher or lower deal valuations? A contextual analysis. Entrepreneurship Theory and Practice, 45(4), 709-739.

An Intergeneration Solidarity Perspective on Succession Intentions in Family Firms

家族企业继承意愿的代际团结视角

摘要：

在创业家庭中，家庭作为一种社会机构，是家族企业的基础。然而，在创业家庭中，代际继承仍然是个问题。本文运用代际团结理论，结合2013年全球大学生创业精神调查(GUESSS;N= 18576)的数据，发现情感承诺在家族企业曝光与子女继承意愿之间起部分中介作用。我们还发现，这种关系对男孩比女孩更强，而出生顺序没有影响。本文最后对理论和实践的启示进行了讨论。

In enterprising families, the family, as a social institution, is the foundation of the family business. However, in enterprising families, intergenerational succession remains problematic. Using intergenerational solidarity theory, and data from the 2013 Global University Entrepreneurial Spirit Students Survey (GUESSS;N=18,576), our findings indicate that affective commitment partialy mediates the relationship between family business exposure and offspring's succession intentions. We also find that this relationship is stronger for sons than for daughters, while birth order has no effect. Implications for theory and practice are discussed.

关键词：

创业家庭；代际团结；继承意愿；家族企业曝光；情感承诺；性别

文献来源：

Gimenez-Jimenez, D., Edelman, L. F., Minola, T., Calabrò, A., & Cassia, L. (2021). An intergeneration solidarity perspective on succession intentions in family firms. Entrepreneurship Theory and Practice, 45(4), 740-766.

Differences in Family-Owned SMEs’ Ethical Behavior: A Mixed Gamble Perspective of Family Firm Tax Evasion

家族中小企业道德行为的差异:家族企业逃税的混合赌博视角

摘要：

我们采用混合赌博视角来解释为什么家族企业在衡量逃税的成本和收益方面存在差异。利用印度家族企业来检验本文所提出的框架，我们发现当企业绩效高时，家族企业身份与逃税呈负相关。然而，当企业绩效较低时，家族企业身份与逃税呈正相关。因此，本文揭示了为什么一些家族企业避免逃税，一些家族企业为了家族的利益而合理避税，以及其他家族企业将逃税视为一项值得冒险的财务收益。

We develop a mixed gamble perspective of tax evasion that explains why family firms vary in how they weigh the costs and benefits of tax evasion. Testing our framework on family firms from India, we find that family firm identity is negatively related to tax evasion when firm performance is high. However, when firm performance is low, family firm identity is positively related to tax evasion. Our study therefore reveals why some family firms refrain from tax evasion, some rationalize it for the sake of the family firm, and others see tax evasion as a financial gain worth the risks.

关键词：

家族企业；异质性；行为

文献来源：

Eddleston, K. A., & Mulki, J. P. (2021). Differences in family-owned SMEs’ ethical behavior: A mixed gamble perspective of family firm tax evasion. Entrepreneurship Theory and Practice, 45(4), 767-791.

Different Strokes for Different Folks: The Roles of Religion and Tradition for Transgenerational Entrepreneurship in Family Businesses

萝卜青菜各有所爱:宗教和传统在家族企业跨代创业中的作用

摘要：

本研究探讨了源自宗教和传统的差异如何影响家族特征和商业实践，从而影响家族企业跨代继续创业的能力。在对家族企业进行深入的定性研究的基础上，我们剖析了一个发展中国家三个区域的宗教和传统差异如何塑造家庭结构、家庭功能、以及随之而来的家庭习惯，并对促进或阻碍跨代创业的商业实践产生相应影响。本文最后在创业和家族企业的背景下讨论了理论和实践贡献。

This study explores how differences originating in religion and traditions imbue family features and business practices that affect the capacity of family businesses to continue being entrepreneurial across generations; that is, to maintain transgenerational entrepreneurship. Building on an in-depth qualitative study of family businesses, we show how differences in religion and traditions within three subregions of a developing country shape the family structure, the functioning of the family, and the family mindset with concomitant implications on the business practices that foster or hinder transgenerational entrepreneurship. Theoretical and practical contributions are discussed in the context of entrepreneurship and family business.

关键词：

跨代创业；家庭结构；家族企业；宗教；传统

文献来源：

Eze, N. L., Nordqvist, M., Samara, G., & Parada, M. J. (2021). Different Strokes for Different Folks: The Roles of Religion and Tradition for Transgenerational Entrepreneurship in Family Businesses. Entrepreneurship Theory and Practice, 1042258720964428.

Entrepreneurial Orientation and Family Firm Performance: The Moderating Role of TMT Identity-Based and Knowledge-Based Faultlines

创业导向与家族企业绩效:TMT身份和知识断层线的调节作用

摘要：

研究表明，创业导向(EO)与绩效呈正相关关系，但一些情境特定的特征和偶然性影响这种关系。因此，本文聚焦于家族企业(FFs)这一特定背景，并引入高层管理团队(TMT)断层作为调节变量。在111个中型和大型家族企业的样本中获得的主要发现表明，强烈的基于身份的断层线(IBFs)对EO-FF绩效关系具有负向调节作用，即使在仅由家庭成员组成的团队中也是如此，而家庭成员通常被视为同质团队。相反，基于强知识的断层线(KBFs)放大了EO对FF绩效的积极影响。

Research has shown that entrepreneurial orientation (EO) is positively associated with performance, but several context-specific features and contingencies affect this relationship. Accordingly, this article focuses on the specific context of family firms (FFs) and introduces top management team (TMT) faultlines as moderators. The main findings, obtained on a sample of 111 medium-and large-sized FFs, suggest that strong identity-based faultlines (IBFs) negatively moderate the EO-FF performance relationship, even within TMTs that are comprised only of family members, which are often viewed as homogeneous teams. Conversely, strong knowledge-based faultlines (KBFs) amplify the positive effect of EO on FF performance.

关键词：

创业导向；家族企业；身份断层；只是断层；TMT多样化；绩效

文献来源：

Calabrò, A., Santulli, R., Torchia, M., & Gallucci, C. (2021). Entrepreneurial Orientation and Family Firm Performance: The Moderating Role of TMT Identity-Based and Knowledge-Based Faultlines. Entrepreneurship Theory and Practice, 1042258720973997.

Family influence and digital business model innovation: the enabling role of dynamic capabilities

家族影响力与数字商业模式创新:动态能力的赋能作用

摘要：

新的数字技术促使包括家族企业在内的许多企业创新商业模式。本文研究了动态能力在家族影响力与数字商业模式创新(BMI)关系中的中介作用，以及环境动态性的调节作用。基于对1444家有和没有家族影响力的德国公司的独特调查数据，我们揭示了知识开发、风险管理和营销能力在家族影响力和数字BMI之间的正向关系。令人惊讶的是，与我们的假设相反，我们发现家庭影响力和动态能力之间的积极关系被环境动态性削弱而不是加强。我们的发现对家族企业创新和数字BMI研究具有重要意义，为动态能力和环境动态性在数字经济中的作用提供了有价值的见解。

New digital technologies have prompted many firms, including family firms, to innovate their business models. We study the role of dynamic capabilities as mediator in the relationship between family influence and digital business model innovation (BMI), and the moderating role of environmental dynamism. Based on unique survey data from 1,444 German firms with and without family influence, we reveal that knowledge exploitation, risk management, and marketing capabilities mediate the positive relationship between family influence and digital BMI. Surprisingly, and contrary to our assumption, we find that the positive relationship between family influence and dynamic capabilities is weakened rather than strengthened by environmental dynamism. Our findings hold important implications for family business innovation and digital BMI research, offering valuable insights into the role of dynamic capabilities and environmental dynamism in the digital economy.

关键词：

数字商业模式创新；动态能力；家族企业；数字经济；环境动态性

文献来源：

Soluk, J., Miroshnychenko, I., Kammerlander, N., & De Massis, A. (2021). Family influence and digital business model innovation: the enabling role of dynamic capabilities. Entrepreneurship Theory and Practice, 45(4), 867-905.

A Dynamic Framework of Noneconomic Goals and Inter-Family Agency Complexities in Multi-Family Firms

多家族企业非经济目标与家族间代理复杂性的动态框架

摘要：

多家族企业代表了一种重要而复杂的家族企业类型，它不像单一家族企业那样为人所熟知。我们开发了一个基于治理的多家族企业代理复杂性框架，从理论上分析了多种家族之间以家族为中心的非经济目标会产生复杂的家族间代理问题，而这些问题会随着家族动力学的演化而加剧。我们提出通过限制机会主义行为的治理机制来解决这些问题，这些机会主义行为与企业控制、家族利他主义、社会资本和代际继承等非经济目标的追求有关。然后，我们提出了一个未来的研究议程，可以扩大我们对多家族企业的理解。

Multi-family firms represent an important and complex type of family firm that is not as well understood as single-family firms. We develop a governance-based framework of the agency complexities in multi-family firms, theorizing that divergent family-centered noneconomic goals between the owning families create complex inter-family agency problems that are intensified by evolving family dynamics. We propose governance mechanisms that address these problems by limiting opportunistic behavior associated with the pursuit of noneconomic goals related to firm control, family altruism, social capital, and transgenerational succession. We then present a future research agenda that can expand our knowledge of multi-family firms.

关键词：

家族企业；多家族公司；以家族为中心的非经济目标；代理理论；相互监督；合同重新谈判

文献来源：

Chrisman, J. J., Madison, K., & Kim, T. (2021). A Dynamic Framework of Noneconomic Goals and Inter-Family Agency Complexities in Multi-Family Firms. Entrepreneurship Theory and Practice, 10422587211005775.

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- 供稿、编辑：许莉萍 - 

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