Market Reaction of Succession of Chinese Listed Family Firms
Pages 83 - 87
Abstract
After one generation of entrepreneurship, Chinese family firms will gradually usher in the peak of intergenerational succession, and the success of intergenerational succession will also determine the rise and fall of family firms. The principal-agent chain of family firms is short and the cost is small, which can effectively avoid the principal-agent problem. With the gradual improvement of the governance of family firms, whether the family development model,"Being success for no more than three generations", be effectively improved? In this paper, We select Chinese listed family firms in A-share market as research samples to test the market reaction of the intergenerational succession by using the event research method. The empirical results show that the second-generation succession of family firms can often obtain excess returns.
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- Market Reaction of Succession of Chinese Listed Family Firms
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Published In
May 2021
118 pages
ISBN:9781450376013
DOI:10.1145/3472349
Copyright © 2021 ACM.
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Association for Computing Machinery
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Published: 05 October 2021
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- Research-article
- Research
- Refereed limited
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- Innovation spark project of Sichuan University
- National Natural Science Foundation of China
- Social Science Research Fund in Sichuan Province
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ICEMC '21
ICEMC '21: 2021 The 6th International Conference on E-business and Mobile Commerce
May 27 - 29, 2021
Seoul, Republic of Korea
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