中国家族企业的可持续性与治理结构研究

长期以来，中国家族企业的可持续性没能得到学术界、政府及社会的充分重视，理论与经验分析甚是缺乏。该文在苏琦、李新春（2004）研究的基础上进行了一项实证研究，考察了我国上市家族企业可持续性与治理结构之间的关系。文章发现，业绩良好的上市家族企业可以寻求改变公司治理结构来促进企业的可持续性，但业绩较差的上市家族企业则应依靠财务状况的改善来促进企业的可持续性。

Research on Sustainability of Chinese Family Firms and Corporate Governance

For a long time the sustainability of Chinese family firms has not been sufficiently recognized by the academia,the government and the society,and has been particularly lacking relevant theoretical and empirical analyses.Based on Su and Li(2004),this article provides a positive study aiming at enquiring into the relationship between sustainability of Chinese public family firms and corporate governance.The main finding of the article is that listed family firms with good performance can promote their sustainability by seeking to transform the structure of corporate governance,while listed family firms with poor performance should rely on improving financial situation in return for realizing sustainability.