家族社会资本、企业所有权成本与家族企业分拆案例研究.pdfVIP

第 10 卷第 2 期 管理学报 Vol. 10 No.2 2013 年 2 月 Chinese Journal of Management Feb. 2013 家族社会资本、企业所有权成本与 家族企业分拆案例研究 吴炯 (东华大学工商管理学院) 摘要:针对家族因素如何导致家族企业分家的问题，建立理论框架 z 家族企业分家所对应 的战略概念是企业分拆，是企业产权的再配直。决定家族企业产权结构的重要因素是监控成 本、风险承担成本和集体决策成本等构成的所有权成本。由于家族权威、家族信任等家族社会 资本条件影响着家族企业所有权成本，由此，也影响着家族企业分拆模式。就此对宗中摩托、 希望集团、苏宁企业等兄弟创业型企业进行了多案例比较分析，分析结果为家族企业产权制度 安排提供了新的理论依据。 关键词:分家;企业分拆;社会资本;所有权成本 中图法分类号: C93; F276. 5 文献标志码 :A 文章编号: 1672-884X( 2013 )02-0179-12 Family Social Capital, Enterprise Ownership Costs and Family Business Divestment: A Comparative Case Study WU Jiong (Donghua University, Shanghai , China) Abstract: This paper establishes a theoretical framework , which describes that why and how the family factor results in the family division. It points out that the corresponding strategic concept of family division is the corporate divestment , which is determined by the ownership costs including the monitoring costs, the risk-taking costs and the group decision-making costs. Furthermore, family s 。一 cial capitallike family authority and family credit decides the level of the ownership costs. So the fami ly social capital corresponds to the family business divestment. To prove this relationship , the paper chooses Zongshen Motorcycle , Hope Group and Suning Enterprise to make a multi-case comparative analysis. The results provide a new theoretical basis for the set of family business property rights sys? tem. Key words: family division; corporate divestment; social capital; ownership costs 作为一种特有的企