家族企业控制权配置的社会阶层烙印与企业投资“脱实向虚”

The scientific question of research is distilled by the project as how does the differences of the background in the social class of the family business owner affect the choice of the control rights in the firm, which in turn influences the behavior of corporate investment shifting from real economy to virtual economy, and what is its deeper mechanism of the action? This project follows the research initiative from the individual perspective to understanding family business how to solve the organizational problems, exploring and testing the relationship between the family business owner social class of origin and corporate the allocation of control rights , and how this relationship changes with the flow of social class before starting a business of family business owner; The relationship between the allocation of control rights in family business and corporate investment shifting from real economy to virtual economy; And the functional mechanism that family business owner social class of origin affect the investment in enterprises shifting from real economy to virtual economy. On the basis of the above empirical tests, the countermeasures and suggestions are given in the combination with typical cases.. This project focuses on starting from the social class background of family business owners, exploring how the personal will of family business owners translates into corporate governance and investment decision-making behaviors, and restoring and deconstructing the inner logic and dynamic practice of family business from who is the entrepreneur to who is the enterprise and then to how to act .Besides, from the perspective of theoretical front, giving a new description of dominant logic from individual entrepreneur will to organizational behavior of enterprise.

在凝练的科学问题的引导下，即家族企业主的社会阶层背景差异究竟如何影响企业的控制权配置选择，进而影响企业“脱实向虚”投资行为，其深层次的作用机理是什么？本项目遵循“从个体角度理解家族企业如何解决组织问题”的研究倡议，探索和检验家族企业主的出身阶层与企业控制权配置关系，以及这种关系如何依赖于企业主创业前阶层流动经历而变化；家族企业控制权配置与企业投资“脱实向虚”的关系；家族企业主出身阶层影响企业投资“脱实向虚”的作用机制等。在上述实证检验基础上，结合典型案例给出对策建议。. 本项目侧重于从家族企业主社会阶层背景出发，探究家族企业主的个人意志如何转化为企业的治理与投资决策行为，还原和解构家族企业从“企业主是谁”到“企业是谁”再到“企业怎么行动”的内在逻辑与动态实践，从理论前沿角度对“企业家个体意志”到“企业组织行为”的主导逻辑给出了新的描述。

民间资金的“脱实向虚”是企业趋利行为的必然体现，但同时也呈现着不同的个体差异。对于家族企业来说，企业主的影响是主导性的。企业主个体烙印会影响其对于家族企业控制权配置方式的偏好，进而影响企业投资行为。但关于企业主个体烙印如何转化为企业控制权配置选择与投资决策行为，其内在逻辑是什么？尚存研究不足。项目探究了企业主早期贫困家庭出身经历对控制权配置选择的影响，以及后期生活工作经历的调节效应；家族企业控制权配置方式对企业投资金融化行为、以及创新投资行为的影响；企业主地位认同及产权烙印对企业创新投资的影响；控制权配置方式在企业主烙印与家族企业金融化投资行为关系中的中介效应和匹配性影响等。. 研究结果解构了家族企业从“企业主是谁”到“企业是谁”再到“企业怎么行动”的内在逻辑，从理论前沿角度对“企业家个体意志”到“企业组织行为”的主导逻辑给出了新的描述。从而突破了以往主要是基于单一的制度理论进行研究的边界，以新的理论视角为家族企业控制权配置偏好的产生动机及其对投资决策的影响，提供了一个差异性的解构逻辑。更深刻地揭示了家族企业控制权配置和投资决策行为的主导逻辑及其新规律，丰富和深化了该领域的理论研究。