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| Exploratory Study of Family Authority Impact on Family Entrepreneur Financing Behavior |
| ZHOU Zhiqiang1,TIAN Yinhua1,LIAO Heping1,1 |
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Abstract Unlike in China, western scholars seldom stress the issues of family role, family authority or authority allocation, leading to the insufficiency of western mainstream financing theories in explaining the Chinese family-firm practice. Under the profound influence of Confucian culture in China, family-firm authority stresses allocation within the family, resulting in the complexity and uniqueness of financing in Chinese family firms. This paper analyzes the functioning mechanism of the family authority impact on business financing, constructing the five-force mode of family entrepreneur financing choices, exploring the financing behavior of family entrepreneur from the family authority maintenance. We can find from the research that the financing decision of family firms is a complex management behavior under the pursuit of dual power, the growth and the family authority maintenance. Meanwhile, the family entrepreneur dominates the financing practice in the family firm.
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Received: 24 August 2013
Published: 24 February 2014
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Corresponding Authors:
ZHOU Zhiqiang
E-mail: 12304697@qq.com
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2014, Vol. 
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