The Invisible Hand of Evolutionary Psychology: The Importance of Kinship in First-Generation Family Firms
研究发现，与亲属关系紧密的家族企业相比，亲属关系疏远的家族企业更可能任命非家族CEO并支付较低薪酬，且企业绩效和家族所有权会调节这一关系。
While previous studies focus on differences between family and nonfamily firms regarding CEO selection and executive compensation, this study investigates differences among family firms with different types of kinship ties. We find that, compared with family firms with close kinship ties, those with distant kinship ties are more likely to appoint a nonfamily CEO and to pay nonfamily executives lower salaries. This relationship is moderated by firm performance and family ownership. Based on evolutionary psychology, we propose that family firms with close versus distant kinships have different motivation levels to preserve socioemotional wealth.