Research On Family Control Structure And Enterprise Innovation

Family business is the mainstream of China’s private economy.It is a series of important things to promote the sustainable development of socialist market economy,improve the recognition of entrepreneurs and innovation.Ensuring the conventional foundation and sustainable development of family enterprises is related not only to the important interests of the holding family.In order to achieve successful development,innovation is the basic way to strengthen core competitiveness.Family is the core of analyzing family business.The heterogeneity of family members’control structure will affect the governance mode and efficiency of family.This thesis focuses on the family control structure,hoping to explore the impact of this structure on enterprise innovation from the source.Firstly,according to China’s cultural concepts and specific national conditions,this thesis divides the controller structure of family enterprises into two types:direct family control and non direct family common control,and measures enterprise innovation from three dimensions:innovation input,innovation output and innovation efficiency.After that,according to the relevant ’theory,this thesis proposes the assumptions of competitors,and chooses the company listed as a company for A-strand non-financial family companies in the study and establishes a regression model for empirical test.Next,this thesis examines the mediating effects of enterprise market competitive position,enterprise risk-taking level and enterprise innovation willingness on the relationship between family control structure and enterprise innovation.Finally,it introduces the external factors,institutional investors’shareholding and government subsidies,and explores their regulatory effect on the relationship between them.Through sorting and analysis,this thesis draws the following conclusions:(1)compared with direct family control,family enterprises jointly controlled by non direct family members have higher innovation input,innovation output and innovation efficiency.(2)The joint control structure of non immediate family members mainly improves the innovation investment level of enterprises through three ways:improving the market competitive position of enterprises,improving the risk-taking level of enterprises,enhancing the sense of hardship of enterprises and improving the willingness of enterprises to innovate.(3)The external supervision of institutional investors and the government plays a positive role in promoting the relationship between the control structure of family enterprises and enterprise innovation.The innovations of this thesis are as follows:(1)Verify the impact of two family control structures,direct family control and non direct family common control,on enterprise innovation.(2)This thesis discusses the media market competition status,corporate risk level and corporate innovation of family control structure and corporate innovation relationship.(3)Choosing institutional investors’ equity and government subsidies as regulatory variables,this thesis deeply studies the impact of external factors on the controller structure and enterprise innovation of family enterprises.