Family Ownership and Firm Internationalization:The Moderating Effects of Institutional Environment

HUANG Li-ying; HE Le-rong

Volume 35 Issue 2

May 2021

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HUANG Li-ying, HE Le-rong. Family Ownership and Firm Internationalization:The Moderating Effects of Institutional Environment[J]. Journal of Guangdong University of Finance & Economics, 2020, 35(2): 35-45+102.

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HUANG Li-ying, HE Le-rong. Family Ownership and Firm Internationalization:The Moderating Effects of Institutional Environment[J]. Journal of Guangdong University of Finance & Economics, 2020, 35(2): 35-45+102.

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Family Ownership and Firm Internationalization:The Moderating Effects of Institutional Environment

School of Economics and Management, Fuzhou University, Fujian 350116, China

Received Date: 2019-10-15
Available Online: 2021-05-15
Publish Date: 2020-04-28

Abstract

Abstract

Internationalization is an important growth strategy for export-oriented family business. Using a sample of Chinese firms listed on the SME Board and ChiNext Board between 2009 and 2016, this paper aims to investigate the influence of family ownership on firm internationalization and the moderating role of the institutional environment including China's economic policy uncertainty, regional marketization and industry competition in the process of the influence. The results show that there is a significant negative correlation between family ownership and firm internationalization. In addition, it is found that the degree of regional marketization and the intensity of market competition will ease the inhibition of family ownership on the firm internationalization, but the moderating effect of China's economic policy uncertainty is not significant. The conclusion expands the empirical research on the relationship between the heterogeneity of family business and internationalization strategy, which has policy implications for understanding the impact of institutional environment on corporate behavior under the transitional economy.
- family business,
- family ownership,
- firm internationalization,
- institutional environment,
- export,
- economic policy uncertainty

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References(45)

References

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