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| Research on the Impact of Immigrant Marriages on Family Firm Value |
| CHEN Yuan，HE Xiaogang，LI Xin |
| 1. Wuhan Polytechnic University, Wuhan, China; 2. Shanghai University of Finance and Economics, Shanghai, China;3. Shanghai University of Finance and Economics Zhejiang College, Jinhua, Zhejiang, China |
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Abstract Based on the resource-based view, this study examines the impact of immigrant marriages on firm value and the moderating effect of marital uncertainty, and further explores the value creating effect of different combinations of immigrant marriage and its within-group differences. The results show that: the incidence of immigrant marriages promotes the firm value, and the greater the geographical distance and the cultural heterogeneity of familism, the larger this positive effect is. The positive effect of immigrant marriages is more pronounced in the sample with a wider spatial layout as well as a lower level of regional digital economic development and transportation accessibility. The higher the marital uncertainty, the lower the contribution of immigrant marriages to family business value; the comparative advantage of immigrant marriages is largely revealed across combinations of immigrant marriages with some differences; and the co-entrepreneurial experience and the duration of marriages further lead to within-group differences in the value creating effect of immigrant marriages.
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Received: 17 November 2022
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