文章以家族企业发展的现状为起点，从家族放弃企业控制权的动机着手，分析家族成员放弃企业控制权前后的绩效变化，探讨了家族企业“去哪儿”的走向及经济后果，反映了家族企业发展过程中面临的转型及其绩效问题。以2003-2013年家族上市公司为研究样本，对家族企业放弃控制权现象进行了梳理，通过实证分析家族放弃企业控制权的原因，并对家族企业转型前后的绩效进行比较，结果发现，家族企业转型前绩效出现下滑，在企业转型后绩效回升，该结果说明家族企业的转型有助于企业绩效的提升。研究表明，虽然家族成员期望能够一直控制企业，但家族作为理性经济人，依然会选择利益最大化的方式，在适当的情况下放弃对企业的控制，一定程度上有助于企业的成长。%The paper starts from the present situation and the motivation of family firms giving up control power , analyzing empirically the change of firms' performance before and after giving up control power , exploring where family firms go and how firms' performance change, reflecting the problem of family firms transition. The paper based on family firms of the years from 2003 to 2013, organizing the phenomena of family firms giving up control power , pursuing the reason of family firms' behavior and comparing firms' performance about transition, the research results told that family firms' performance began to slide down before changing and started to move up after transition, which point out that family firms' transition could help improve firms' performance. Our results demonstrated that family controllers are also economic men and they will choose the way to maximize firms' benefits , then families giving up the firms under some conditions are good for firms' development.
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