CAJ | 학술논문

本文以家族企业全部家族成员为研究对象，提出了基于权力配置的家族和和谐指数的洲量方法，并实证检验了家族和谐及其与亲缘关系的交互项与企业可持续成长之间的关系。本文的研究结果表明：（1）家族和谐与企业绩效存在倒U型关系，即过于强调家族权力集中而不顾及家族和谐，或过于强调权力平均分配的形式上的和谐都不利于企业成长，只有那种考虑到家族成员个体差异的相对集权的和谐机制才有利于企业实现价值最大化；（2）家族成员间的亲缘关系影响到和谐机制的设计，核心家庭关系对家族和谐度的功效具有显著的负向调节作用，即相对于远亲家庭成员所控制的家族企业，家族和谐在核心家庭成员所控制的企业中的边际贡献更为明显。
본문이가족기업전부가족성원위연구대상，제출료기우권력배치적가족화화해지수적주량방법，병실증검험료가족화해급기여친연관계적교호항여기업가지속성장지간적관계。본문적연구결과표명：（1）가족화해여기업적효존재도U형관계，즉과우강조가족권력집중이불고급가족화해，혹과우강조권력평균분배적형식상적화해도불리우기업성장，지유나충고필도가족성원개체차이적상대집권적화해궤제재유리우기업실현개치최대화；（2）가족성원간적친연관계영향도화해궤제적설계，핵심가정관계대가족화해도적공효구유현저적부향조절작용，즉상대우원친가정성원소공제적가족기업，가족화해재핵심가정성원소공제적기업중적변제공헌경위명현。
This paper takes all of the family members in the family-owned firm （FOF） as a research unit, and proposes the measurement of family harmony index based on the family power distribution. Based on the panel data collected from the listed FOFs during 2001 -2005 in China,this paper investigates the effect of family harmony and its interaction with kinships on the FOFs growth, and finds that ：（ 1 ） There is an inverted-U relationship between family harmony and performance, which means that unduly emphasizing the concentration of family power without regarding the family harmony, and unduly emphasizing the pseudo-harmony eulture in which every family member has the purely equal power will negatively influence the firm＇ s efficiency. The relatively centralizd family harmony mechanism which takes the family members＇ differences into account can help the organization obtain higher performance. （2） Kinships of family agents affect the design of the harmony mechanism,core family members relationship will significantly and negatively moderate the effects of family harmony on firm efficiency, which means that the marginal contribution of family harmony in core family-controlled FOFs is higher than in the extended family-controlled FOFs.