CEO power, internal control quality, and entrepreneurial innovation spirit in family enterprises

Weibin Li, Yingling Huang, Hongyong Zhou and Xin Liu

International Review of Financial Analysis, 2024, vol. 95, issue PA

Abstract: Using listed manufacturing enterprises in China from 2013 to 2020 as a sample, we find that CEO formal power, CEO integrated power, and internal control quality are positively and significantly related to the entrepreneurial innovation spirit of family businesses. CEO informal power, although not directly correlated, can enhance entrepreneurial innovation spirit by strengthening CEO formal power. In addition, internal control quality negatively regulates the relationship between CEO formal power and integrated power, and entrepreneurial innovation spirit. These findings highlight the incentive effects of CEO power and internal control on entrepreneurial innovation spirit in family enterprises, as well as the supervisory and inhibitory role of internal control over CEO power. This study contributes to the understanding of factors influencing entrepreneurial innovation spirit in family enterprises, focusing on CEO power and internal governance.

Keywords: Chinese family business; CEO power; Internal control; Entrepreneurial innovation spirit (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:95:y:2024:i:pa:s1057521924002965

DOI: 10.1016/j.irfa.2024.103364

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