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以创始人为家族企业权力继任者选择核心决策者,在此基础上构建我国家族企业权力继任者选择模型。创始人效用最大化由提升创始人的单位股权价值和非经济的“欣慰潜力”两个部分组成。在给定股权结构下,把法律环境、家族成员和职业经理人候选人的创造股权价值能力、控制权私人收益转移程度、股东监督强度、有效工资激励,以及包含家姓延续等非货币化度量的欣慰潜力等因素纳入家族企业权力继任者选择模型,证明这些因素在家族企业权力继任者选择过程中不同程度地影响创始人的效用最大化。
Choose the core decision-maker as the successor of the family business by the founder, and then build the model of succession choice of the family business in our country. The founders’ utility maximization is made up of two parts: increasing the founder’s unit equity value and non-economic “happy potential ”. Given the legal environment, the legal capacity of the family members and professional managers, the ability to create equity, the degree of transfer of private benefits of control, the intensity of shareholder supervision, effective wage incentives, and non-monetary measures that include family continuation Including the potential of happiness and other factors into the succession choice model of family business, proving that these factors will affect the founders’ utility maximization to varying degrees in the succession of family business.