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	家族和谐、股权集中度与家族企业绩效; Family Harmony，Ownership Concentration，and Corporate Performance of Family Business
	郑毅 ; Yi Zheng ; 张雪微 ; Xuewei Zhang ; 孙赫 ; He Sun
	2016-08
关键词	家族企业 Family business 家族和谐 family harmony 股权集中度 ownership concentration
英文摘要	【中文摘要】本文以2011 ～ 2013年沪深两市的家族企业为研究对象，以家族凝聚力、家族宪法等协调机制及家族与经理人关系度量家族和谐程度，以赫芬达尔 — 赫希曼指数度量股权集中度，实证研究家族和谐及股权集中度对家族企业绩效的影响。研究发现：家族和谐程度与家族企业绩效呈正相关关系，当家族越和谐时，即家族凝聚力越强，家族宪法等协调机制发挥越好，家族与经理人和谐 程度越高，家族企业绩效越好；家族股权集中度与家族企业绩效呈倒U形关系，只有当家族成员的股权集中度处在一个适度的范围内，家族企业绩效才能达到最优；家族和谐程度对二者间的关系起到了正向的调节作用。 【Abstract】This paper studies a sample of family firms that have been listed in Shanghai and Shenzhen stock exchanges for five years. We use family cohesion and coordination mechanisms such as family constitutions to measure family harmony, use Herfindahl-Hirschman index to measure ownership concentration, and perform an empirical analysis of the effects of family harmony and ownership concentration on family firm performance. The results show：①family harmony is positively associated with family firm performance. That is, the more harmonious the family is, i.e.，the stronger the family cohesion is, the better coordination mechanisms such as family constitution are；the more harmonious the relationship between family and managers is,the better the performance of family business is；②ownership concentration and family firm performance exhibit an inverted U-shaped relationship. Family business performs the best when the ownership concentration of family members is in a moderate range；③the degree of family harmony positively moderates the relationship between ownership concentration and family firm performance．; 本文的研究得到国家自然科学基金青年基金“虚拟企业协同设计成本控制研究”（70702021）的资助。
语种	中文
出版者	厦门大学《当代会计评论》编辑部
内容类型	其他
源URL	[http://dspace.xmu.edu.cn/handle/2288/127389]
专题	2016年第9卷
推荐引用方式 GB/T 7714	郑毅,Yi Zheng,张雪微,等. 家族和谐、股权集中度与家族企业绩效, Family Harmony，Ownership Concentration，and Corporate Performance of Family Business. 2016-08-01.

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