Family Business Governance: An Economics Interpretation and Research Implications in China

作者：Zengquan Li, Guoliang Zhou, Guan Feng, Junxia Liu · 发表于：China Accounting and Finance Review · 年份：2016 · DOI：10.7603/s40570-016-0006-5 · 被引用次数：1 · 研究领域：Family Business Performance and Succession、Corporate Finance and Governance、Corporate Taxation and Avoidance

Abstract Family businesses are a common organisational form worldwide. Issues such as forms of family business governance, reasons for adopting this specific form of governance, and the governance efficiency of family businesses have attracted extensive attention from economics researchers. After reviewing relevant studies, we find that Western scholars focus primarily on the governance efficiency of family businesses, and offer insufficient empirical evidence explaining the reasons for adopting various forms of governance. By contrast, Chinese scholars have conducted extensive research on listed and unlisted family businesses in China, presenting multi-perspective studies of the economic consequences of family governance for listed companies. Building on the basic ideas of property economics, we develop a theoretical framework for analysing family governance and use it to explore the possible influence of uniquely Chinese institutional variables on family business governance. The results can serve as a reference for future research on Chinese family businesses.