中文摘要：

研发投资是决定创新能力的最重要因素,在转型经济体下,探讨家族控制这种最普遍又特殊的企业治理形式对研发投资的影响具有重要理论和现实意义。这个研究以社会情感财富理论为基础,假设家族企业研发投入的力度低于非家族企业;当市场化水平较高或负责人受教育程度较高时,家族企业研发投入的增幅低于非家族企业;但当两者同时较高时,家族企业研发投资的增幅大于非家族企业。基于全国工商联数据的实证分析支持了这些假设。

英文摘要：

R＆D investment is the most determinant element for innovational capability. The study of the impact of family control on R＆D investment in transition economy has theoretical and realistic significance. The study, based on SEW perspective, sup- poses that family business invests less in R＆D than non - family business and the increases of R＆D investment in the family busi- ness is also less than non - family business in the case of the higher marketization level or higher education of CEO, but the in- crease of R＆D investment is more for family business than for non - family business in the case of higher marketization level plus higher education. The empirical analysis based on ACFIC data supports these hypotheses.