Research On The Influence Of The Successor's Power On The Innovation Of Family Business Under The Regulation Of Legitimacy

As a kind of important social organization form,family business plays an important role in promoting the development of national economy.The influence of successor's power on the innovation of family business is widely concerned in the field of family business governance.In the research of the evaluation of the inheritance and evaluation of the family business,how to transform the formal power of the successor to the real power and influence the behavior of the enterprise is not yet deeply studied.Under the background of the same successor's power,enterprise innovation behavior has a huge difference.This shows that there is some kind of regulating variable between successor's power and enterprise innovation.According to the theoretical and practical investigation,legitimacy plays an important role in the relationship between successor's power and enterprise innovation.To this end,this paper introduces the legitimacy of the research perspective,to explore the family business internal and external legitimacy of the impact of successor's power.At the same time,the enterprise innovation activities to reflect the changes in corporate behavior before and after the inheritance.The main research method of this paper is case study and empirical study.First,summarized the related theories;secondly,the use of grounded theory in a multiple case study,analyzes the influence of successor's power on the innovation of family enterprise,further constructs the theoretical model;finally,through the theoretical analysis put forward the hypothesis of this research.And then use the SPSS17.0 software and analysis based on data of complete heritage(to his successor served as chairman of the board of directors or general manager and shift exit enterprise as a symbol)of listed family firms 1992-2014 years,the study found the following conclusions:(1)successor's power of enterprise innovation has significant positive effect;(2)internal legitimacy in the successor's power and enterprise innovation play a positive regulatory role;(3)external legitimacy in the successor's power and enterprise innovation plays a negative regulatory role.Based on the conclusions above,the author puts forward some suggestions on the legitimacy of the inter-generational transmission of family business,and constructs the model of enterprise strategic choice under the adjustment of internal and external legitimacy.The research results extend the theory of legitimacy in the inter-generational transmission,and it is an effective complement to the theory of legitimacy in the development and practice of family business.In this study,although there have been some more valuable results,but because of my limited ability and related resources conditions,the article still exist some shortcomings and need to be improved,still need to continue to work hard.At last,the paper points out the future research direction in combination with the limitation and deficiency of the article.