Research on the Impact of Outward Foreign Direct Investment Expansion on"De-Familization"Governance of Family Businesses
Encouraged by the"Go globally"strategy and the"The Belt and Road"initiative,family businesses,as the main body of private economy,are carrying out more and more outward foreign direct investment(OFDI).Therefore,facing the in-creasing complexity of transnational management,how to adjust the family governance structure of family businesses is very important.Based on the resource dependence theory,this paper takes listed family businesses in China from 2008 to 2020 as samples to explore the influence of the scale and scope of OFDI expansion extent of family businesses on the"de-familization"governance,and examines the moderating effect of the speed and rhythm of the expansion process of OFDI on the above relationship.The results show that the expansion scale and scope of OFDI promote the ownership and management of family businesses to"de-familization"governance;The speed of OFDI expansion enhanced the positive relationship be-tween the expansion scale and scope of OFDI on ownership"de-familization"governance,while the rhythm of OFDI expan-sion did not play a role.By further analyzing the influences of OFDI's entry into different economies and the involvement of the second generation,it is found that there is no significant difference between developed and developing economies in the impact of OFDI expansion on"de-familization",while the involvement of the second generation weakens the impact of OFDI expansion on ownership"de-familization".At the same time,the further analysis of the resource changes after the"de-familization"governance of family businesses shows that the financial resources and management resources of family busi-nesses have increased.
Outward Foreign Direct Investment ExpansionDe-FamilizationResource Dependence TheorySpeedRhythm
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