| 摘要: |
| 双元创新对家族企业的价值提升与长期发展至关重要。本文以2012—2019年中国沪深两市A股上市家族企业为研究样本，实证研究了不同类型CEO对家族企业双元创新的影响。研究发现：家族创始人CEO会促进探索式创新和利用式创新；与家族创始人CEO相比，继任者CEO会抑制家族企业创新，具体来说，继任家族成员CEO会抑制利用式创新，而职业经理人CEO会抑制探索式创新。进一步研究发现：创始人CEO会促进利用式创新的相对投入，而继任家族成员CEO则会抑制利用式创新的相对投入；与继任家族成员CEO相比，职业经理人CEO会抑制探索式创新而促进利用式创新；CEO任期和海外经历会抑制职业经理人CEO对探索式创新的负向影响，而CEO持股和海外经历则会抑制职业经理人CEO对利用式创新的正向影响。本文不仅揭示了不同类型CEO影响家族企业双元创新的差异性，亦为家族企业如何平衡探索式创新和利用式创新提供了经验证据与管理启示。 |
| 关键词: CEO类型 家族企业 探索式创新 利用式创新 |
| DOI：10.13581/j.cnki.rdm.20210856 |
| 分类号:F275.5 |
| 基金项目:教育部人文社会科学研究规划基金项目“中国家族企业的创始人政治关联、社会情感财富与控制权代际锁定研究”（18YJA630126）；国家自然科学基金面上项目“中国营商环境、总经理自主权与企业技术创新：制度基础观与高层梯队理论整合视角下的多层次研究”（72072137）。 |
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| CEO Types and Ambidextrous Innovation—Empirical Evidence from the Chinese A-Share Listed Family Firms |
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YAN Ruo-sen, ZHAO Ya-li
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Economics and Management School， Wuhan University， Wuhan 430072， China
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| Abstract: |
| Ambidextrous innovation is vital to value promotion and long-term development of family firms. Taking the A-share listed family firms on Shanghai and Shenzhen stock exchange from 2012 to 2019 as samples， it empirically studied the impact of different types of CEOs on family firms’ ambidextrous innovation. The research results show that the family founder CEOs promote explorative innovation and exploitative innovation. Compared to family founder CEOs， successor CEOs inhibit family firms’ innovation， specifically， family successor CEOs inhibit exploitative innovation， while professional CEOs inhibit explorative innovation. Further research results show that family founder CEOs promote the relative investment level of exploitative innovation， while family successor CEOs inhibit the relative investment level of exploitative innovation. Compared to family successor CEOs， professional CEOs inhibit explorative innovation but promote exploitative innovation； CEO tenure and overseas experience inhibit the negative impact of professional CEOs on explorative innovation， while CEO shareholding and overseas experience inhibit the positive impact of professional CEOs on exploitative innovation. It not only reveals the differences between the impact of different types of CEOs on family firms’ ambidextrous innovation， but also provides empirical evidence and management enlightenments on how to balance explorative innovation and exploitative innovation in family firms. |
| Key words: CEO type family firm explorative innovation exploitative innovation |
