对创新风险的规避降低了家族企业的创新意愿,能有效分担风险的开放式创新模式受到了家族企业的关注。本文基于社会情感财富理论,以2009—2021年中国A股上市家族企业为样本,实证检验了家族控制对企业开放式创新的影响及其内在机理,并探究了代际传承、数字化水平和股权激励的调节作用。研究发现:家族控制正向影响企业开放式创新。情境效应表明,家族企业处于代际传承期时,家族控制对企业开放式创新的促进作用更为显著;而当家族企业数字化水平较高或股权激励力度较大时,家族控制对企业开放式创新的促进作用有所减弱。从作用机制来看,家族控制通过加强高管的“薪酬—业绩”敏感性和降低家族企业的风险承担水平促进了企业开放式创新。本文不仅为破解家族企业的创新困境提供了新思路,对数字化时代我国家族企业的管理实践也具有启发意义。

The avoidance of innovation risks reduces the willingness of family firms to innovate, and the open innovation model that can effectively share risks has received the attention of family firms. Based on the theory of socioemotional wealth, this paper takes China's A-share listed family firms from 2009 to 2021 as research samples to empirically test the impact of family control on firms' open innovation and its internal mechanism, and explores the moderating effects of transgenerational succession, digitization level and equity incentives. The paper finds that: family control positively affects open innovation of firms. In terms of moderating effects, when family firms are in the stage of transgenerational succession, family control has a more significant promoting effect on firms' open innovation. However, when the digitalization level of family firms is higher or the equity incentive is stronger, the promoting effect of family control on open innovation of firms is weakened. As for the influencing mechanism, family control promotes open innovation of firms by strengthening the “compensation-performance” sensitivity of executives and reducing the risk-taking level of family firms. This paper not only provides a new way to crack the innovation dilemma of family firms but also has certain enlightening significance for the management practice of family firms in China in the digital era.