Study On The Power Succession In China’s Family Business From Stakeholder Perspectives

After decades of development in China,family business made huge achievements, at the same time, many the founder of the family business entered the later stages of life. With the decline in family business founder’s physical strength and ability andtheir children grow up, have forced the family business began to consider theproblem of power succession, succession in family business is imminent, and the power of family enterprise inheritance, and become one of the key issuesaffecting the family business can sustainable development. Therefore, the problem of power transmission of family business, began toreceive attention from scholars, become one of the hot issues in the research of family business.In order to solve the family business of power succession, a large number of studies gathered in this area, existing research, often ignored the stakeholders’ influence on the heritage of the family firm.Inheritance from the few existing power practice family businesses, and power of our family business heritage, often tend to focus on heritage, managing inheritance and ownership concentration in the hands of children.Therefore, in the course of our family business heritage, will inevitably impact and interaction with stakeholders.Regrettable is that existing research tends to ignore stakeholder impacts on family business succession or aware of heritage stakeholders need to be considered, but simple in a study of over or stakeholder considered is not comprehensive.Based on the above analysis, firstly by Mitchell stakeholders classification criteria to define the stakeholders of our family business.However, the heritage the family enterprise is not imminent, but a long-term and constantly adjust the socialization process. Inheritance in the family enterprise and its stakeholders are not immutable, but vary with power-down of the.Therefore, variations on the power down of the stakeholder research, explains the trends and interests of stakeholders’major changes of our inheritance in the family firm analyze the interests of stakeholders, avoiding the limitations of existing research.Stakeholders in the research on the inheritance right of family enterprises in China from the management right of inheritance succession candidates, the timing of passing and inheriting contents based on the three core elements, respectively, analyzes the impact of stakeholders on these three aspects.In studying the impact of family members’right to management succession candidates process, according to family composition and representation in the enterprise, placing family members divided into four groups, and discussed the four family members inherit the right to management of different influences.Analysis of family business founder effect of children on succession candidates during succession of founders and their children intend to compare from the heritage of the founders of will and whether their children are taking over the will perspective, wishes will inherit family business founder and their children are divided into four categories:a founder doesn’t want to cede, their children are reluctant to take over; Second, its founders do not want to cede, their children are willing to take over;Three founders are willing to cede, their children are reluctant to take over;Four founders are willing to cede, their children are also willing to take over.And pointed out that only in the fourth case, the management of the family business can be successfully realized with founders heritage to their children.Inheritance from the founder’s life cycle, will, succession plans and heritage aspects of the plan’s implementation and operation, the founder of the family business management right analysis of the effect of timing of passing the. Analysis of influence of family members to control timing of passing the, broken down family members, pointing out that different family members to manage the timing of passing the right choice will have different effects, to avoid existing research to the neglect of this part.Study on influence on the content of the tradition family business founder, respectively from the posts, tacit knowledge and explicit knowledge entrepreneurship, entrepreneur, entrepreneurs, social capital, and relationships are analyzed.And research stakeholders to heir entered the business impact analysis, separately said heir to the grass-roots, mid level to senior and entered into the advantages and disadvantages of degree and its conflicts with stakeholders. On this basis, further points out that the heirs get to business and other stakeholders the possibility of conflicts of interest, and ways to resolve the conflict of interest.In the tradition of the family business ownership research, mainly discussed the principle of stakeholder ownership succession in China under the influence and impact on the ownership.Also analyzes family enterprises founder, family structure, ownership and attitudes about wealth in three aspects.Pointed out that family structure is more complex, the founder of family enterprises, their ownership passing more difficult;Family shareholding, the higher, the more likely the family internal succession;Attitudes toward wealth more calm, more favorable to ownership passing smoothly.Based on theoretical analysis, adopted on the basis of the interview questionnaire and a part of the family business, summarizing and finishing of the obtained data, and use the SPSS 18.0 tool, using the method of factor analysis, stakeholder inheritance for family enterprise and ownership an empirical analysis of the impact.The innovations are mainly embodied in the following aspects:(1)Defines the stakeholders in our family business heritage process.China family enterprise of formed has special of history and conditions, and China poor sequence pattern of relationships also on family enterprise of development up to must of effects, in China family enterprise for power heritage process in the, different of interests related who also will on power of heritage produced different of effects, so, on family enterprise power heritage process in the of interests related who for research is has necessary.This research on China family enterprise interests related who for defined of while, also on China family enterprise power heritage process in the of interests related who of changes trend for research, preliminary discussion has in China family enterprise power heritage process in the interests related who of changes, only clearly of awareness these interests related who of changes and interests demands, to active active and interests related who for communication and regulation, thus promoting China family enterprise of power heritage of smooth achieved.(2)Selected stakeholders as the family business succession research new angle. Through the perspectives of stakeholders to study the power of our family business succession, reveals that inheritance in the family firm of stakeholders, stakeholders and its influence on power succession, such as high-level managers, founders of family members, family members and employees, and so on.Also reflects our heritage has the particularity of the family firm, avoids the previously overlooked by the stakeholders in the research on the effects of power succession.(3) New analysis framework for built succession the family business. This study from the power of two dimensions, namely, the management and ownership, and to study the power of our family business heritage.Our heritage are more likely to focus on passing the family firm, namely, management and ownership by the family members of the next generation to take over.Our country also determines the inheritance in the family business, is especially important for management of heritage, the inevitable under the influence of stakeholders, and under the influence of trust the pattern of difference sequence, right of family enterprises in China considering succession within the family, inheriting the family firm differences with foreign countries is particularly significant.Therefore, this analytical framework along the two dimensions of power transmission, and stakeholders are discussed on the basis of inheriting title implications.