西安石油大学学报（社会科学版）2025，Vol.34Issue(4)：49-59,11.
父子共治、财务柔性与家族企业高质量发展
Father-son Co-governance,Financial Flexibility and High-Quality Development of Family Enterprises
摘要
Abstract
In the background of the high quality development of Chinese economy and the peak inherit-ance period of family,based on the social emotional wealth,the theory of shared leadership and the theory of order financing,this paper took A-share listed family enterprises in Shanghai and Shenzhen Stock market from 2008 to 2023 as the samples,and discussed the influence of father-son co-governance on the high quality development of family enterprises by using mixed multiple regression.The research results show that father-son co-governance has a positive impact on the high-quality development of family businesses,which re-flects the Chinese-style"parents' love for their children"-the wish to pass on a"healthy family business"to the next generation.Financial flexibility plays a mediating effect in the above process,reflecting"if parents love their children,they will plan for them in the long run"and reserve sufficient cash to realize the smooth in-heritance of family wealth.Equity concentration and long-term orientation respectively regulate the first and second stages of the mediation model.This paper organically combines father-son co-governance with finan-cial flexibility and high-quality development of enterprises.The research results not only expand and deepen the theoretical research on intergenerational inheritance and high-quality development of family businesses,but also provide empirical evidence for guiding the relevant practices of family businesses.关键词
父子共治/家族企业/高质量发展/财务柔性Key words
father-son co-governance/family business/high-quality development/financial flexibility分类
管理科学引用本文复制引用
韩雪亮,谢雨伟,董峰..父子共治、财务柔性与家族企业高质量发展[J].西安石油大学学报（社会科学版）,2025,34(4):49-59,11.基金项目
国家社科基金项目"悖论视角下父子共治与家族企业高质量发展研究"(22BGL096) （22BGL096）
国家自然科学基金项目"地理环境对欠发达农区企业家精神的影响研究"(41971223)阶段性研究成果 （41971223）
河南省软科学项目"父子共治、财务韧性与家族企业高质量发展研究"(242400412028). （242400412028）
