Intergenerational Succession and Corporate Environmental Responsibility in Family Firms: Moderating Effect of Confucian and Clan Cultures

Family firms are facing the dual challenges of intergenerational succession and green transformation. In this process, traditional cultural values such as Confucian and clan cultures rooted in collective responsibility and family reputation play a significant role in promoting family firms to fulfill corporate environmental responsibility (CER). Based on data from Chinese listed family firms from 2010 to 2021, we find that intergenerational succession significantly promotes family firms’ engagement in CER, and this effect is positively moderated by Confucian and clan cultures. Channel tests show that intergenerational succession promotes CER by enhancing the firm’s long-term orientation and reputation value. Heterogeneity analysis indicates that the positive effect of intergenerational succession on CER is more pronounced for successors who are male, highly educated, or possess an overseas background. Furthermore, this effect is more pronounced for firms in heavily polluting industries, in regions with stricter environmental regulations, and in regions with higher levels of green credit. From a cultural perspective, this article clarifies the boundary conditions for how intergenerational succession in family firms impacts their environmental performance, thereby extending the application of socioemotional wealth theory to the strategic decision-making in family firms.