Huang Jiarong, Zhou Lixin, Song Shuai, Zhou Hanwei
Institute for Chengdu-Chongqing Economic Zone Development, Chongqing Technology and Business University, Chongqing, China.
Chongqing Finance and Economic College, Chongqing, China.
PLoS One. 2025 Jan 10;20(1):e0314110. doi: 10.1371/journal.pone.0314110. eCollection 2025.
Green innovation is essential for sustainable development, especially in China's Specialized-Refined-Differentiated-Innovative (SRDI) enterprises. Family-owned SRDI firms, in particular, have attracted attention due to their de-familization strategies and their influence on green innovation. Our study analyzes panel data from 2016 to 2021 for listed SRDI family firms to investigate how de-familization in management rights and ownership impacts green innovation. Using socio-emotional wealth (SEW) theory and a fixed-effects model, we find that de-familization significantly negatively affects green innovation, with corporate governance serving as a mediating factor. Digital transformation moderates these negative effects, while market concentration exacerbates them. These impacts are more pronounced in firms before being designated as "Little Giants," those receiving higher government subsidies, those located in eastern regions, or those not classified as major polluters. This research provides actionable insights for SRDI family firms to strategically manage de-familization, optimize resource allocation, implement customized governance strategies, and promote sustainable growth.
绿色创新对于可持续发展至关重要，在中国专精特新企业中尤为如此。特别是家族式专精特新企业，因其去家族化战略及其对绿色创新的影响而备受关注。我们的研究分析了2016年至2021年上市专精特新家族企业的面板数据，以调查管理权和所有权的去家族化如何影响绿色创新。运用社会情感财富（SEW）理论和固定效应模型，我们发现去家族化对绿色创新有显著负面影响，公司治理起到中介作用。数字化转型缓和了这些负面影响，而市场集中度则加剧了这些影响。这些影响在被认定为“小巨人”之前的企业、获得较高政府补贴的企业、位于东部地区的企业或未被列为主要污染企业的企业中更为明显。本研究为专精特新家族企业在战略管理去家族化、优化资源配置、实施定制化治理策略以及促进可持续增长方面提供了可操作的见解。
