光華講壇——社會名流與企業家論壇第6664期

主題：家族成員人力資本與企業創新研究

主講人：上海商學院特聘教授、學科帶頭人 陳錦全教授

主持人：西南財經大學中國金融研究院 夏常源副教授

時間：11月17日 09:30-12:00

舉辦地點：西南財經大學格致樓618A

主辦單位：西南財經大學中國金融研究院 教務處

主講人簡介：

陳錦全(Johnny Chan)，上海商學院特聘教授、學科帶頭人，富布賴特學者。美國阿拉巴馬大學金融學博士；特許金融分析師(CFA)，長期從事首次公開募股(IPO)、分析師行為、金融教育、綠色金融、內部控制等方面的研究，先后在Management Science（UTD24）、Journal of International Business Studies（UTD24）、Journal of Corporate Finance (14篇)、Journal of Banking and Finance、Journal of Business Ethics等國外權威學術刊物公開發表學術論文近百篇。

內容簡介：

We examine the impact of family-based human capital stemming from a chairperson’s having siblings vis-à-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 co-management 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.