現有研究就家族企業繼任如何影響研發的觀點莫衷一是。在細分繼任過程的基礎上，探究繼任不同階段對研發的影響與制度環境的調節效應。基於2006-2015年上市家族公司資料的研究顯示：相較於未發生繼任的家族企業，二代繼任有利於研發增加。具體地，繼任過程的三階段對研發存在不同作用：參與、共同管理階段的影響是消極的，接收管理階段的影響是積極的。進一步研究發現，繼任不同階段對研發投入的影響受制度環境影響。趨於完善的制度環境一方面弱化參與、共同管理階段與研發間的負相關，另一方面增強接收管理階段與研發間的正相關。上述結果深化了我們對於繼任過程創新問題的認識，且表明繼任過程的創新問題不能僅局限於企業內部，還需關注制度的作用。

Based on the sample of Chinese public listed family firm between 2006 and 2015, it studied the relationship between different stages of succession and innovation input, and then investigated the moderating role of institutional environment in the relationship between different stages of succession and innovation input. The result shows that compared to family firms without succession, family firms with succession are beneficial for innovation input. Specifically, the impact of participating in and common management stage is negative, and the influence of the taking over stage is positive. Further research has also verified the moderating effect of institutional environment. This study helps to deepen the understanding of innovation input during the succession of family firm.

改革開放四十年有餘，作為經濟發展的一支重要力量，中國家族企業迎来了第一次代際傳承的高峰期；與此同時，企業既有的發展模式正面臨前所未有的挑戰，轉型升級成為家族企業高質量發展、實現基業長青的必由之路。因此，對中國家族企業創始人亦或二代而言，理解研發投入在傳承期不同階段如何變化便成為一個重要且極待解决的問题，具有較強的現實意義。 本次研究發現相較於未發生繼任的家族企業，二代繼任有利於家族企業研發投入的增加。具體地，家族企業「傳幫帶」式繼任過程的三個階段對企業的研發投入存在不同的作用：參與管理、共同管理階段的影響是消極的，接收管理階段的影響是積極的。上述研究結論表明家族企業「傳幫帶」式繼任過程的階段細分是有意義的，不同階段的研發投入具有顯著的差異。現實中，一代常常擔心二代的管理經驗不足，認為傳承期過早完成權杖交接、由二代獨當一面會给組織治理帶來災難性的混亂；恰恰相反，我們發現接收管理階段會激發企業加大研發投入，引領家族企業的創新轉型。故家族企業不能因繼任過程可能存在的不確定性而因噎廢食，減少在創新方面的投入力度。相反，應引導這些企業積極認識繼任過程不同階段的研發投入差異，鼓勵家族企業根據自身繼任過程所處的階段性做出相應的研發決策，為企業獲得長期競爭優勢奠定堅實基礎，真實實現家族企業的基業長青。 進一步研究還發現，「傳幫帶」式繼任過程不同階段對企業研發投入的影響受到制度環境因素的影響。與未發生繼任的家族企業相比，趨於完善的制度環境一方面會弱化參與管理、共同管理階段與家族企業研發投入間的負相關，另一方面也會增強接收管理階段與家族企業研發投入間的正相關。因此，制度層面的完善，諸如更加健全的知識產權保護法律，大眾創業、萬眾創新等創業創新氛圍的營造必將更好激勵傳承期家族企業實現創新轉型。

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