The Influence Of Family Business Agency Cost On Family Business Performance

In the process of this paper,based on the principal-agent perspective,the factors that affect the Business Performance of family business are analyzed.The STRUCTURAL DIFFERENCES OF AGENCY COST AND Business Performance between the generation of family entrepreneurs and other family entrepreneurs are discussed in this paper,at the same time,the paper further studies the relationship between the organizational structure and the profitability of two types of family firms.After the theoretical analysis,this paper also combined with the development of the reality of China's listed family enterprises for empirical analysis.A comprehensive analysis of about 4,20 companies was conducted between 2008 and 2019.The results of the study show that within the family business,other portfolio entrepreneurs can rely on their own resource heterogeneity in the inheritance process to further expand the scale of the company's production and development,and at the same time can enhance the transmission of the family business' competitive advantage.The analysis also clearly shows that there are multiple mechanisms of action between the agency costs of family business operations and business performance.Grasping the causes and consequences of different mechanisms can play a more active role in the development of family businesses.In the research process of this paper,the following results have been achieved: First,in the process of research,the differences in business performance of the company are further analyzed from the perspective of principal-agent.In the process of research on the inheritance development of family businesses,not only the impact of organizational structure on development,but also various factors are considered,which effectively improves the theoretical research system of family businesses;second,in the process of research This paper clearly demonstrates the impact of two types of family businesses on business advantages.This paper proves that clear planning can play a role in improving the profitability of family businesses to a certain extent in the future;third,this paper uses empirical analysis methods and combined with the actual situation of the market,in-depth discussion of the family business in the development process Impact.According to the different influencing factors,analyze the influence of various aspects of family business in the course of operation.This article enriches the perspective of studying the management system of family business from the perspective of agency commission,and plays a positive role in enriching the research of family business.In today's market environment,insight into the opportunities and challenges faced by family business inheritance has a very positive reference for the future development of family business.At the same time,this paper conducted an empirical analysis using stata15.0.The empirical analysis results show that in the development process of family business,heterogeneity plays a very active role in the process of entrepreneurship.Entrepreneurship to expand the company's business advantages,while inter-generational entrepreneurship,has also formed a conductive influence in the development of the enterprise.