PDF(1033 KB)
Research on the impact of family control on open innovation of firms
Li Huihui, Shen Xinyu, Li Jian, Zhang Yuli
Science Research Management ›› 2026, Vol. 47 ›› Issue (8) : 127-135.
PDF(1033 KB)
PDF(1033 KB)
Research on the impact of family control on open innovation of firms
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.
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