家族企业治理结构与经营绩效关系的实证研究——基于浙江非上市中小家族企业的调查数据

根据对浙江地区家族企业的抽样调查研究,本文得到以下实证结论:在我国家族企业治理结构和经营绩效关系方面:家族企业融入外部资本和管理资源都存在一个追求短期销售绩效的倾向;非上市中小家族企业并不存在“一股独大”问题,而是具有“一股独大”优势;家族企业股权分割清晰能显著提高企业绩效;家族企业外部顾问制度的“公正性效率”的提高显著大于“适用性效率”的降低,家族企业的治理效率得到改善。

An Empirical Analysis of the Relationship between Family Businesses Governance Structure and Their Performance——Based on the Survey Data of Small and Medium Sized Family Businesses in Zhejiang

According to the sampling survey of family businesses in Zhejiang,we come to the following conclusions: on the relationship between family businesses governance structure and their performance,there is a tendency of seeking for remarkable short-term sales performance with lack of motivation of long-term development;in the unlisted small and medium sized family businesses,the dominant shareholder does not present itself as a problem but as an advantage;the clear ownership structure in family businesses can improve their performance remarkably;the effect of improving the fairness of the decisions is much more than that of weakening the applicability of the decisions resulting from the outside consultant institution of family businesses,thus improving their governance efficiency.