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Transgenerational Succession and Financial Risk Taking of Family Firms: Evidence from China

In: Sustainable Entrepreneurship in China

Author

Listed:
  • Jialong Li
  • Yulin Shi
  • Zhenyu Wu

Abstract

Echoing an earlier version of family business definition provided by Barach and Ganitsky (1995), the seminal work by Chua et al. (1999) moves the family business literature into a new era as this study sheds light on the behavioral side of family firms run by succession. Family businesses have four dimensions, family ownership, family management, family governance, and intent for succession. Studies have addressed how intent for succession impacts family firms’ decisions and behaviors, such as risk taking (GÓmez-MejÍa et al., 2007), investment decisions in innovation (Chrisman and Patel, 2012), capital structure decisions (Chua et al., 2011), decisions on corporate social responsibilities (Dou et al., 2014), and firm valuation made by family CEOs (Zellweger et al., 2012).

Suggested Citation

  • Jialong Li & Yulin Shi & Zhenyu Wu, 2015. "Transgenerational Succession and Financial Risk Taking of Family Firms: Evidence from China," Palgrave Macmillan Books, in: Douglas Cumming & Michael Firth & Wenxuan Hou & Edward Lee (ed.), Sustainable Entrepreneurship in China, chapter 0, pages 91-103, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-41253-9_4
    DOI: 10.1057/9781137412539_4
    as

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