家族权威配置机理与功效——来自我国家族上市公司的经验证据

被引：54

作者：

连燕玲

贺小刚

张远飞

机构：

[1] 上海财经大学国际工商管理学院

来源：

管理世界 | 2011年 / 11期

关键词：

家族权威; 亲缘关系; 经营能力; 治理效率;

D O I：

10.19744/j.cnki.11-1235/f.2011.11.010

中图分类号：

F224 [经济数学方法]; F276.6 [公司];

学科分类号：

0701 ; 070104 ; 1202 ; 120202 ;

摘要：

本文理论探讨并实证检验了家族代理人内部的权威配置机理及其对公司治理效率的影响。研究结论表明:(1)家族成员在配置资产所有权时偏好"亲缘至上"的原则,即更关注亲缘关系而不是经营能力的强弱,而在配置家族资产管理权时则更偏好"能力至上"的原则,即更关注家族代理人经营能力的强弱而不是亲缘关系程度。(2)将家族资产所有权、管理权配置给远亲显著地不利于治理效率的改进,但如果这些家族成员具有较强的经营能力则治理效率仍然可以得到改进。(3)基于家族代理人管理能力高低而配置相应的资产管理权显著地促进了治理效率的提高。本文研究充分表明了亲缘关系与经营能力在家族代理人配置资产所有权与管理权过程中的重要性。

引用

页码：105 / 117

页数：13

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