Introducing professional managers, salary incentive and family business innovation

Hang Su, Zeyu Yuan and Yang Gao

Finance Research Letters, 2024, vol. 65, issue C

Abstract: This paper provides an in-depth discussion of the impact of introducing professional managers on the innovation of family firms for a sample of A-share listed companies in China from 2017 to 2022. The findings show that introducing professional managers in family firms significantly positively contributes to corporate innovation. In addition, the study finds that both equity and cash incentives given to professional managers are conducive to further promoting corporate innovation. The results of this study are of great practical significance for how family firms can rationally utilize professional managers to enhance corporate innovation.

Keywords: Family firms; Professional managers; Corporate innovation; Compensation incentives (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:65:y:2024:i:c:s1544612324005622

DOI: 10.1016/j.frl.2024.105532

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