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<p>A central tenet of Confucian culture is a family-centric value system that places family ties above all other relationships. We examine the effect of this family-first culture on innovation among listed Chinese family-controlled businesses. We find that founders’ adherence to family-first values lowers firms’ innovation. Nepotism and risk aversion are the two channels through which the family-first culture impedes innovation and the effects appear to be causal. We also observe that the effect of family-first culture on innovation is more pronounced for firms located in regions with underdeveloped labor markets, in high-tech industries, and with weaker external governance. Overall, this study provides firm-level evidence for Weber’s <CitationRef CitationID="CR78">1904</CitationRef> hypothesis that Confucian family-centric culture hinders development.</p>

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Confucian family value and corporate innovation

  • 期刊论文

  • 发表日期：

    2026年2月28日

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  • Lily Fang,
  • Jiaoliang Jiang,
  • Chaopeng Wu,
  • Qi Zhang

摘要

A central tenet of Confucian culture is a family-centric value system that places family ties above all other relationships. We examine the effect of this family-first culture on innovation among listed Chinese family-controlled businesses. We find that founders’ adherence to family-first values lowers firms’ innovation. Nepotism and risk aversion are the two channels through which the family-first culture impedes innovation and the effects appear to be causal. We also observe that the effect of family-first culture on innovation is more pronounced for firms located in regions with underdeveloped labor markets, in high-tech industries, and with weaker external governance. Overall, this study provides firm-level evidence for Weber’s 1904 hypothesis that Confucian family-centric culture hinders development.