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Innovation in Family Firms: An Intergenerational Tale of Symbol and Substance

Published online by Cambridge University Press:  23 April 2025

Qi Wu Open the ORCID record for Qi Wu [Opens in a new window] ,
Yuqing Wang Open the ORCID record for Yuqing Wang [Opens in a new window] ,
Hualin Chu  and
Junhang Chen Open the ORCID record for Junhang Chen [Opens in a new window]
Qi Wu
Affiliation:
Xiamen University, China
Yuqing Wang
Affiliation:
Renmin University of China, China
Hualin Chu
Affiliation:
Xiamen University, China
Junhang Chen*
Affiliation:
Xiamen University, China City University of Hong Kong, Hong Kong
*
Corresponding author: Junhang Chen ([email protected])
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Abstract

While the innovation behaviors of family firms (FFs) have attracted burgeoning scholarly attention, few studies have investigated how intergenerational succession, one of the most critical aspects of family dynamics changes among FFs, affects innovation behaviors. Based on the socioemotional wealth perspective (SEW), we have introduced a concept of innovation decoupling that refers to the tendency of prioritizing the symbolic disclosures over substantive changes of innovation and proposed that FFs that have experienced intergenerational succession would exhibit a greater extent of innovation decoupling. By tracking a sample of Chinese publicly listed FFs from 2012 to 2021 while applying the machine learning approach, we have confirmed the proposition and further unveiled that such inclination becomes weaker when the focal FF is influenced by the family affective endowment and the successor with ascribed bureaucratic connections. Overall, this study brings new nuances to the knowledge of the innovation behaviors of FFs by highlighting the inter-firm heterogeneities and impacts of family dynamics.

摘要

摘要

虽然家族企业的创新行为引起了日益增多的学术关注，但很少有研究探讨家族企业中最关键的家族动态变化之一——代际传承——对创新行为的影响。本文引入“创新脱钩”战略，即家族企业在创新中优先考虑象征性的创新而非实质性创新，并基于社会情感财富视角，来探索经历代际传承的家族企业对“创新脱钩”战略的选择。本文的样本为 2012 至 2021 年在中国A股上市的家族企业，我们使用机器学习方法构建“创新脱钩”的测量，并通过实证分析发现，经历了代际传承的家族企业更容易发生“创新脱钩”。但是，这种倾向在两种情况下被削弱：(a) 当家族企业以家族姓名命名继承人继承人在体制内任职时。总体而言，本研究从社会情感财富理论视角探索了家族企业的创新行为，为家族动态与企业创新特征之间的关系提供了新的见解。

Keywords

ascribed bureaucratic connectionsfamily affective endowmentfamily dynamicsinnovation decouplingsocioemotional wealth perspective家族动态创新脱钩家族情感赋予赋予型官僚关系社会情感财富视角
Type
Article
Information
Management and Organization Review , First View , pp. 1 - 32
Copyright
Copyright © The Author(s), 2025. Published by Cambridge University Press on behalf of International Association for Chinese Management Research

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Footnotes

†

Qi Wu and Yuqing Wang contributed equally to this work.

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