Research On The Impact Of Family Businesses Intergenerational Inheritance On The Ambidextrous Innovation

At present,Chinese family businesses have entered the peak of intergenerational inheritance.According to a study of family businesses around the world,only 16% survive into the fourth generation.How to break the curse of "no more than three generations of wealth" and realize the lasting development of family businesses is a difficult problem facing family businesses at present,and also a research hotspot in the field of business research.Innovation plays a key role in improving the core competitiveness of family businesses and realizing the sustainable development of their businesses.Based on the ambidextrous innovation theory,exploratory innovation and exploitative innovation have different risks and uncertainties.From the perspective of social emotional wealth theory,intergenerational inheritance makes the goal orientation of family ambidextrous change,and at the same time,intergenerational inheritance will cause internal and external environment turbulence of family businesses.The complex and changeable environment and the transformation of goal orientation will inevitably affect the ambidextrous innovation strategy choices of family businesses.In addition,the intensification of market competition will further impact the external environment of enterprises,thus affecting the choice of dual innovation strategy of enterprises.Based on the resource-based view,the second-generation involvement has injected fresh blood into the family business.The second-generation technology background closely related to the innovation activities will affect the development of the dual innovation activities of the family business.Based on the above research questions,through sorting and summarizing the existing literatures,we have refined out the relationships between intergenerational inheritance and ambidextrous innovation(exploitative innovation and exploratory innovation),and the moderating effects of the degree of market competition and second-generation technology background on the relationships between intergenerational inheritance and ambidextrous innovation.Taking the family-owned listed businesses with intergenerational inheritance in2008-2021 as the research objects,collecting and processing relevant data,and using Stata15.0 software to conduct empirical tests.The results show that:(1)The intergenerational inheritance of family businesses has a negative impact on exploitative innovation.(2)The intergenerational inheritance of family businesses has a negative impact on exploratory innovation.(3)Compared with exploitative innovation,family business intergenerational inheritance has a stronger negative impact on exploratory innovation.(4)The degree of market competition negatively moderates the negative impact of intergenerational inheritance on exploratory innovation.That is,when family businesses face a high degree of market competition,the negative effects of intergenerational inheritance on exploratory innovation will be strengthened.(5)The second-generation technology background positively moderates the negative impact of intergenerational inheritance on exploitative innovation.That is,the higher technical background of the second generation in family businesses,the weaker the negative effects of intergenerational inheritance on exploitative innovation.(6)The second-generation technology background positively moderates the negative impact of intergenerational inheritance on exploratory innovation.That is,the higher the second-generation technology background in family businesses,the weaker the negative effect of intergenerational inheritance on exploratory innovation.This study takes ambidextrous innovation as the explained variable to test the impact of intergenerational inheritance on different innovation activities,which enriches the related research on intergenerational inheritance and innovation of family businesses.At the same time,starting from the ambidextrous logic of family-enterprise and the internal and external environment,this paper selects the degree of market competition and the second-generation technology background as the moderator variables,discusses the moderate effect between intergenerational inheritance and ambidextrous innovation,and conducts a comprehensive study of the influencing factors of the relationship between intergenerational inheritance and ambidextrous innovation.The research conclusion of this paper enriches the innovation research of family businesses and expands the influencing factors of family businesses’ s innovation activities in the context of intergenerational inheritance.It has practical significance for family businesses in the process of inheritance or about to enter intergenerational inheritance to cope with intergenerational inheritance and maintain innovative vitality.