光华讲坛——社会名流与企业家论坛第6664期
主题：家族成员人力资本与企业创新研究
主讲人：上海商学院特聘教授、学科带头人 陈锦全教授
主持人：bat365中文官网中国金融研究院 夏常源副教授
时间：11月17日 09:30-12:00
举办地点：bat365中文官网格致楼618A
主办单位：bat365中文官网中国金融研究院 教务处
主讲人简介：
陈锦全(Johnny Chan)，上海商学院特聘教授、学科带头人，富布赖特学者。美国阿拉巴马大学金融学博士；特许金融分析师(CFA)，长期从事首次公开募股(IPO)、分析师行为、金融教育、绿色金融、内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等国外权威学术刊物公开发表学术论文近百篇。
内容简介：
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.
