CEO Succession Origin and Firm Performance: A Multilevel Study

There has been much controversy concerning the relationship between outside CEO succession origin and firm performance. Some scholars take the organizational‐adaptation view to highlight the benefits of outside succession; yet others adopt the organizational‐disruption view to pose the selection of an outsider CEO as a disruptive and disadvantageous event for organizations. In this study, we develop an integrated multilevel framework that reconciles these opposing perspectives and examines the conditions under which the benefits of outside CEO succession outweigh the costs. Data from 109 CEO succession events in large international firms show that the performance advantages of outside succession materialize when the new CEO: (a) socio‐demographically resembles incumbent executives, (b) possesses a variety of experience, and (c) is hired by a well‐performing firm operating in a munificent industry. Overall, our research demonstrates that the performance implications of new CEO origin should not be considered in isolation, but in interaction with multilevel characteristics.     

我国家族企业接班人选择现状分析

2005年中国私营企业调查报告显示,私营企业主平均年龄43.4岁,按照中国人的惯例,60岁是退休年龄,由此推算未来10年～20年将是家族企业交接班的高峰期。了解家族企业接班现状将有助于掌握家族企业接班情况,为家族企业平稳实现交接班过渡提供现实支持。     

经济发达地区农村宅基地使用权继承研究

研究目的：基于中国宅基地制度的历史变迁和现行制度及政策,揭示中国农村宅基地使用权的内涵与实质,梳理农村宅基地使用权继承相关规定的内在矛盾和各地在实践中的不同做法,分析宅基地使用权制度改革的必要性,提出中国农村宅基地使用权继承制度。研究方法：历史分析法,文献研究法和比较研究法。研究结果：中国现行制度有意回避了宅基地继承的明确,不仅法律体系存在内部矛盾,也与当前新型城镇化建设的趋势不符。研究结论：中国现行制度没有对农村宅基地使用权继承做出明确规定,在实践中导致各类损害农民利益事件的发生。走出困境的出路在于：一方面建立宅基地使用权的实物继承和货币继承制度;另一方面,继续深化户籍制度改革,推动集体成员权和户籍归属的脱钩,明确“权随人走”,保护农民对宅基地的合法权利,让农民放心进城。     

家族企业代际传承中的家族社会资本

家族社会资本对家族企业的代际传承有重要的影响作用,主要表现在两个方面：一是家族社会资本的多寡对传承过程的影响,二是传承前后家族社会资本的变化对传承结果（业绩）的影响.家族组织内社会资本越丰富,越有利于传承的平稳顺利进行;传承前后家族社会资本的变化越小,就越有利于传承后企业业绩的稳定.在家族企业代际传承中,信任、利他主义、权威等家族社会资本是下降的,而家族组织制度和家族文化方面的社会资本却有上升的可能.因此,为了保证传承的顺利和成功,要加强制度、文化性社会资本的建设和积累.     

Riding off into the Sunset: Organizational Sensegiving,Shareholder Sensemaking,and Reactions to CEO Retirement

We test hypotheses derived from resource dependence and sensemaking/sensegiving theoretical lenses in the context of CEO succession, focusing on an under‐researched yet prevalent type of executive turnover – CEO retirement. Using event study methodology and a sample of CEO retirements from S&P 1500 firms during the 2003–12 period, we find that, all else equal, shareholders’ perceptions of organizations’ capacity to serve their interests are adversely affected when a retirement related change occurs in the leadership structure. Specifically, in line with resource dependence theory, we find that CEO retirement disclosures typically generate negative abnormal returns. Furthermore, in line with the sensemaking perspective, we find that the magnitude of shareholders’ reactions is contingent on the lexical sensegiving cues contained in the organizational narratives that are released to capital markets via executive retirement announcements. Overall, our theory and results point to CEO retirement events as consequential in the eyes of shareholders, challenging an important assumption of extant succession research. Moreover, they suggest that shareholders’ interpretation of these events is influenced by organizational sensegiving, highlighting the important role of organizational communication around succession events.     

An empirical test of the model on managing the localization of human resources in the People's Republic of China

The localization of human resources has been a major objective for many transnational corporations (TNCs) in the People's Republic of China (PRC). After a review of related literature and in-depth interviews with six TNCs, Wong and Law (1999) developed a model explaining the localization process in the PRC. Based on this localization model, this study empirically tested the antecedents of successful localization results of 139 TNCs in the People's Republic of China. Results showed that, (1) whether or not localization had been identified as an important goal, (2) overall localization planning efforts and (3) actual human resources management practices were important factors leading to successful localization of expatriate positions. Implications of the results are discussed.     

家族企业子女接班的制度化管理

作为我国家族企业代际传承首选形式的子女接班,由于我国家族企业深受"家文化"的影响,目前存在职业经理人队伍和市场不成熟,规模小、技术含量低的现状,家族企业尚未发展到两权分离的程度,故采用"子承父业"的接班模式具有一定的合理性。但是,我国家族企业子女接班未形成制度化,存在子女接班人选择的主观性和随意性、缺乏权力传承协调和移交机制等危害,最终导致信任危机和影响家族企业可持续发展等一系列的后果。因此,家族企业子女接班从子女接班人的甄选、培养、评估和考核、奖惩到最后获得继承权,需要运用人力资源管理的视角来分析,以此强化子女接班制度化管理思维。     

家族企业接班与接班人选择

家族企业接班是指企业的权力代表者因自然生命周期或提高企业绩效等原因,将企业经营控制权移交给其他人的过程.家族企业接班人主要来源于家里人、企业人、外来人.目前我国家族企业接班人选择主要是子承父业的方式.     

Contrasting the evolution of corporate governance models: A study of banking in Hong Kong

The sub-prime mortgage crisis, the bankruptcies of important US banks, and many originally family controlled enterprises coming under non-family, CEO-type leadership during the 2008 global credit crunch led many people to rethink the relationship between risk management and family businesses. One of the foci was on the doctrine of separation of ownership. This paper attempts to compare and examine the evolution of corporate governance in the banking business in Hong Kong by using two key financial institutions based there. By contrasting the evolution of corporate governance, management style and pattern of succession, we can see that although they developed under the same business environment and legal framework, the East-West business culture and ideology led them to choose different ownership structures and ways of succession, which ultimately determined their different developmental trajectories.     

代际传承背景下家族企业继任二代创新投入水平研究——基于差序格局视角

利用2004—2018年1074个家族企业年度样本的非平衡面板数据,基于"本土情景"的差序格局视角,实证考察继任二代履新后创新投入水平。研究结果表明,限定其他条件,继任二代在以创立一代为中心的差序格局中关系越强,履新后创新投入水平越低。进一步引入家族企业异质性发现,创立一代"离而不休"会强化差序格局与创新投入之间负相关关系,即对创新水平产生抑制作用;而政企关联和非家族成员高管介入,均会弱化差序格局与创新投入之间负相关关系,即对创新水平产生促进作用。