民营企业权杖交接时机的影响因素实证分析

企业权力交接阶段也是企业最脆弱的阶段，因此保持平稳传递和选择合适的传承时机对企业而言至关重要。通过实证分析影响民营企业权杖交接时机的因素，发现管理者的社会资本对传承时机的选择起着重要的作用，特别是在任者的年龄和继任者的行政从业经历及其受教育程度。研究还发现，公司的规模越大，传承时机越晚。而公司的成长性也将影响到传承时机的选择，但公司所处的地区差异与传承时机的关系并不显著。

Empirical Analysis on the Determinants for Timing of Passing the Baton in Private Enterprises

Since the phase of passing the baton is also the fragile phase for all enterprises,it is very important to keep the succession smoothly and to select an optimal time.The empirical research reveals that the managers' social capital plays an important role in timing of passing the baton,especially the incumbents' age,the successor's administrative experience,and the education.The research also finds the larger companies tend to delay passing the baton,and the growth of company also influences the optimal time,while the relationship between the area differential and the optimal time is not significant.