Liability of Ownership Origin, Corporate Philanthropy, and Desire for Control in Chinese Family Firms
研究了中国家族企业所有权起源（源于国企私有化）带来的合法性挑战，发现这类企业主对家族和跨代控制的欲望较低，而企业慈善能缓解这一负面影响。
Many family firms trace the origin of their property rights to the privatization of state-owned enterprises, particularly in emerging economies. The benefits of such ownership origins have been amply researched; however, there are also disadvantages. By developing the concept of the liability of ownership origin, we theorize that this liability creates legitimacy challenges for privatized family firms, leading their owners to exhibit a lower desire for both family and transgenerational control compared to de novo family firms. However, corporate philanthropy can mitigate these negative effects. Empirical analyses using a national survey of Chinese family-owned firms support our arguments.