关键词: 合规经营, 家族企业, 社会情感财富, 家族命名, 企业违规

Abstract: Compliance management of family firms is a necessary condition for ensuring the long- term development of the corporate and achieving high-quality development. Taking the listed family firms from 2004 to 2020 as samples, this paper focuses on the reputation dimension of extended social emotional wealth, investigates the impact and mechanism of family social emotional wealth protection motivation on corporate compliance management, and conducts an empirical test to identify the reputation maintenance motivation of the enterprises through family naming. The findings show that family naming can significantly reduce the probability of business violations, which means that family naming highly overlaps the reputation of the corporate with that of the family, thereby making the family pay more attention to the compliance management and avoiding the damage to the family’s social and emotional wealth caused by the corporate’s violations. In addition, the higher the level of family involvement in management or the presence of second-generation involvement, the stronger the restraining effect is. Further analysis reveals that family naming mainly reduces information disclosure violations and operation violations. It also has a more significant inhibitory effect on serious violations. The mechanism analysis reveals that the enterprise named after the family can achieve compliance management through efficient corporate governance and high-quality internal controls. The economic consequence test reveals that the enterprise named after the family can not only enjoy lower debt financing costs, but also have easier access to long-term debt and bank loans. Therefore, guiding family firms to operate in compliance with regulations cannot unilaterally demand the elimination of family imprints but should encourage families to establish long-term orientation and promote them to actively implement the sustainable development concepts.

Key words: compliance operation, family firms, social emotional wealth, family naming, enterprise violation