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| Research on the Impact of Wife Involvement on Agency Costs in Family Firms |
| QI Yangyang，HE Xiaogang |
| 1.Shanghai University of Finance and Economics, Shanghai, China；2. Shanghai University of Finance and Economics Zhejiang College，Jinhua，Zhejiang，China |
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Abstract Based on the role conflict theory, this study empirically tests the influence of the management involved by the owner’s wife on the agency cost of family business, and examines the moderating effect of the owner’s marriage duration and neutral parents, as well as the mediating impact of in-laws participating in governance. It is found that the wife’s involvement in management will significantly increase the agency cost of the family business, especially when the wife’s education level is equal to or even higher than the owner’s. The marriage duration of the owner and the neutral parents significantly weaken the agency cost of the wife’s involvement in management; In-laws’ participation in governance plays an intermediary role in the process of the wife’s involvement affecting agency costs.
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Received: 14 April 2022
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