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August 23, 2026Entrepreneurship Theory and Practice

Transgenerational Intentions and the Emergence of Family Firms: Evidence from China’s One-Child Policy Reform

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Authors

ZRZhihao RenKIMEP UniversityCCCristina CruzIE UniversityNZNa ZouWuhan University

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Overview

Difference-in-differences analysis finds increased R&D intensity in succession-feasible listed firms following policy reform, suggesting transgenerational goals drive family-oriented transitions.

Key Points

  • Investigate how the emergence of transgenerational succession intentions reshapes founder mindsets and drives the transition toward family-oriented corporate behavior.
  • Conducted a difference-in-differences analysis across a sample of 2,837 listed firms in China.
  • Leveraged China's one-child policy reform as an exogenous shock altering within-family succession feasibility.
  • Firms with feasible family succession demonstrated a qualitative increase in R&D intensity relative to nonfamily firms following the reform.
  • The post-reform increase in innovation investment was driven primarily by lone-founder firms shifting toward family-oriented behavior.

Cite This Study

Ren et al. (2026) studied this question.

synapsesocial.com/papers/6a8aadc57677a34114446319https://doi.org/10.1177/10422587261472142
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