近日，我院特聘教授陈锦全与合作者中国人民大学商学院教授许年行、新加坡国立大学商学院教授Sumit Agarwal、中央财经大学会计学院助理教授谢蓉蓉、南京大学商学院助理教授陈钦源的合作论文 “The Impact of Family-Based Human Capital on Corporate Innovation: Evidence from Sibling Chairpersons in China” 被国际顶级期刊《Management Science》接受，并于2024年10月7日正式见刊发表，标志着我校应用经济学科建设取重大突破。

创新是引领发展的第一动力，是推动高质量发展、建设现代化经济体系的战略支撑。该研究以“强化企业科技创新主体地位”为背景，聚焦企业董事长特征对企业创新的影响。该文章手动搜集了企业董事长家庭背景的相关数据，考察了1481家中国家族企业，进一步探索了董事长的家庭背景对中国家族企业创新的影响。研究表明当一家公司董事长有兄弟姐妹时，公司持有的专利更多，获得的专利总引用次数更多，创新效率和创新质量更高。此外，企业由兄弟姐妹共同管理和性别多元化对企业创新也至关重要。该研究结论为促进国家高质量发展，提高企业创新能力提供了理论借鉴。

论文信息：

The Impact of Family-Based Human Capital on Corporate Innovation: Evidence from Sibling-Chairpersons in China

Published in:

MANAGEMENT SCIENCE

摘要：

We examine the impact of family-based human capital stemming from a chairperson’s having siblings vis-a`-vis not having siblings on corporate innovation in Chinese family firms. Using hand-collected data, we document that when a firm has a sibling chairperson, it holds more patents, receives more total citations to its patents, and has greater innovation efficiency and innovation quality than an otherwise equivalent firm with a chairperson having no siblings. The results are economically significant and robust to a battery of robustness checks. Specifically, the findings remain intact after using China’s one-child policy as an exogenous shock to apply a regression discontinuity research design to mitigate endogeneity. Additional analyses suggest that the mechanisms behind the impact of siblings on innovation are consistent with family based human capital embedded in the sibling relationships such as competition, knowledge spillover, and family firm succession effect among siblings. Furthermore, we show that sibling comanagement and sibling gender diversity matter in corporate innovation. In addition, sibling effect enhances corporate investment efficiency, stock returns, and merger and acquisition performance. Overall, family-based human capital from siblings positively contributes to corporate innovation

原文链接：https://pubsonline.informs.org/doi/10.1287/mnsc.2023.4965

陈锦全教授毕业于美国阿拉巴马大学，研究方向包括:绿色金融、首次公开发行股权、公司治理，分析师行为、共募基金和内部控制等，研究成果于《Accounting, Organizations and Society》《Contemporary Accounting Research》《Journal of Corporate Finance》等国际权威期刊共发表300多篇。

期刊简介：《Management Science》期刊创办于1954年，由美国运筹学与管理学学会主办，是管理学、运筹学领域历史悠久、口碑极高的顶级期刊，其2023年影响因子为4.60，近五年影响因子为6.10，该期刊是美国德克萨斯大学达拉斯分校（The University of Texas at Dallas）遴选的24本商学院顶级学术期刊之一（简称UTD24），以及英国《金融时报》（Financial Times）评定的50本商学院顶级期刊之一（简称FT50）。

撰稿：华珉

图片来源：Management Science

审核：李志刚