{"title":"Structure of Local Political Power and Family Firms’ Concentration of Wealth","authors":"Xuan He, Yingyu Zhang, Weicheng Xiao","doi":"10.1177/08944865221140647","DOIUrl":null,"url":null,"abstract":"Wealth concentration is a common problem worldwide, and research reveals that wealth is most concentrated in family firm holdings. We examined the influence of local political structure on the concentration of family firm wealth and found that (a) changes in de jure political power (provincial party secretary turnover) temporarily inhibit family firm wealth concentration, (b) local de facto power offers strong countervailing protection against this effect, and (c) there is a U-shaped relationship between the tenure of the provincial party secretary and wealth concentration. This investigation deepens our understanding of the relationship between family firm political connections and wealth concentration.","PeriodicalId":51365,"journal":{"name":"Family Business Review","volume":"36 1","pages":"199 - 222"},"PeriodicalIF":9.9000,"publicationDate":"2022-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Family Business Review","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1177/08944865221140647","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
Wealth concentration is a common problem worldwide, and research reveals that wealth is most concentrated in family firm holdings. We examined the influence of local political structure on the concentration of family firm wealth and found that (a) changes in de jure political power (provincial party secretary turnover) temporarily inhibit family firm wealth concentration, (b) local de facto power offers strong countervailing protection against this effect, and (c) there is a U-shaped relationship between the tenure of the provincial party secretary and wealth concentration. This investigation deepens our understanding of the relationship between family firm political connections and wealth concentration.
期刊介绍：
Family Business Review (FBR) has been a refereed journal since 1988, serving as the premier scholarly publication dedicated to the study of family-controlled enterprises. It delves into the dynamics of these businesses, encompassing a range of sizes from small to very large. FBR concentrates not only on the entrepreneurial founding generation but also on family enterprises in subsequent generations, including some of the world's oldest companies. The journal also publishes interdisciplinary research covering families of wealth, family foundations, and offices.
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