李学迁　董梦羽

摘要：随着家族企业传承高峰期的来临，许多企业在二代继承者的带领下实施创新并获得成功。为了考察代际传承对企业创新的影响，文中基于社会情感财富理论，以2008—2017年我国处于代际传承阶段的299家上市家族企业为样本，采用多元回归分析方法进行实证检验，探讨二代继承者的涉入程度对于家族企业创新的影响，并研究二代继承者个人特征对于企业创新的影响。研究发现，二代涉入对于家族企业的研发投入强度具有显著的正向影响。二代继承者的受教育程度可以促进企业的研发投入。二代继承者的海外工作经历可以促进企业的研发投入，而二代继承者的海外留学经历与企业研发投入无关。文中的研究丰富了有关家族企业代际传承与创新的文献，且对于我国家族企业的传承与创新具有一定的实践和理论意义。

关键词：二代涉入;家族企业;企业创新;研发投入;代际传承

中图分类号：F 273.1文献标识码：A文章编号：1672-7312（2021）03-0295-07

The Impact of Secondgeneration Involvement and Individual

Characteristics on Family Business InnovationLI Xueqian，DONG Mengyu

（Business School，University of Shanghai for Science and Technology，Shanghai 200093，China）

Abstract：As the peak of intergenerational inheritance of Chinese family businesses has arrived，many companies implement innovation and succeed under the leadership of secondgeneration successors.In order to investigate the impact of intergenerational inheritance on family business innovation，based on the social emotional wealth theory，this paper examined the relationship between the secondgeneration successor’s involvement and family business innovation in 299 Chinese listed family firms from 2008 to 2017，and how the secondgeneration successor’s personal characteristics influence the process by using multiple regression analysis method.It is found that：The second generation successor’s involvement has a significant positive impact on the intensity of R&D investment of the family business.The secondgeneration successor’s high education will promote the intensity of R&D investment.The overseas work experience of the secondgeneration successors can promote the company’s R&D investment，while the overseas study experience of the secondgeneration successors has nothing to do with the company’s R&D investment.This paper enriches the relevant literature on the intergenerational inheritance and family business innovation，and has practical and theoretical significance for family business succession and innovation.

Key words：secondgeneration involvement;family business;innovation;R&D;Succession

0引言

当前我国经济面临下行压力，传统的要素、投资驱动发展模式动力不足，创新驱动成为企业发展的重心。而作为民营经济的重要一环，家族企业的创新问题研究具有重要的现实价值。基于历史原因，现在正是家族企业的传承高峰期，而由于“家族信任”，企业创始人大多倾向于从家族内部挑选继承人＼[1＼]。截止2018年底，2 327家上市家族企业中已有377家由二代继承者担任董事长或总经理。与父辈相比，二代继承者拥有更为全面的知识储备，更为开阔的眼界以及更加新颖的思路，上市企业万和电气在二代的主导下引进自动化系统;上市企业华帝股份在二代的管理下研发高端智能厨电，2018年荣获“亚洲品牌500强”。……