An Empirical Research Of Family-owned Firm Succession And Succession Performance

As an important form of private enterprise organization in our country,the family business is also important to Chinese non-public economy,and is a major driving force for Chines economic development.Whether it can run well is related to the stability of our economy.And Family business succession is a major factor affect the family business life.Due to Chinese special historical environment,Chinese family-owned enterprises were mostly born in the period of Chinese reform and opening.As a result,the “creative generations” of family-owned companies are getting older today,and have to plan for inheritance.The inheritance of family businesses has become a common problem faced by family businesses in China.World-wide empirical data shows that the inheritance of family-owned companies is difficult.At the same time,in the family business inheritance research,there is still such a "black box" : that is,it is difficult to obtain enough observations as to how "family companies" can smoothly and effectively inherit from the "generation of companies" to the "second generation of enterprises" experience.Although many of the options for the inheritance path of family businesses may be the result of unplanned and subjective practices of family business successors,such practices may not be observable by the outside world.However,we can still identify and sort out the timing and previous experience of the successor took over the power stick(through the inheritance of the inheritor)through the cases inherited by a single family company,and through the succession(performance)of the inheritance.Evaluation,analysis of the rationality of the family company's inheritance path and put forward optimization suggestions,in order to make a little contribution to the academic research and practical activities inherited by the family business,make up for a blank.This article interprets the family company's heritage of Youngor,and refines the inheritance path of family-owned companies with Chinese characteristics.By evaluating the rationality of Youngor's inheritance path,it analyzes the advantages of Youngor's inheritance path.The study found that whether family businesses can inherit without ownership is about smooth transfer of management rights.In order to operate to be transferred smoothly,inheritors,heirs,and companies(other stakeholders)need to make certain efforts.Inheritor need to plan overall the direction and path of corporate inheritance,and take into account obstacles in inheritance,use personal control and influence in the company,reduce the resistance of successors to the company's top management,and thus ensure the smooth inheritance of the family business.The heirs of the enterprise should also make corresponding efforts for the company,including increasing personal work experience and resume,and improving the social reputation,so as to establish personal authority to reduce the enterprise decision-making efficiency caused by insufficient personal authority after entering the company's takeover experience.The efficiency of implementation has declined.Enterprises also need to cooperate with successors to complete the process of intergenerational succession,including the adjustment of business strategy,to meet the successor's business philosophy and strategic vision,so that the business right to transfer smoothly,so that the company itself can develop steadily.