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由于交易费用的存在 ,家族上市公司是人们节约交易费用方式的一种选择。在家族公司中 ,如一般的实质资产一样 ,身份资产同样是一种十分稀缺的资源。由于身份资产在时间上是不可逆性 ,在空间上的唯一性 ,它只能通过家族公司来进行有效交易。如果这些身份资产不能有效地利用 ,对父子都会造成莫大的损失。因此 ,家族公司的存在在于身份资产的存在及该资产无法在市场中交易与转让。但是如果用身份来界定产权 ,其利弊互现 ,因此 ,应该设立有效上市公司治理机制来兴利除弊。
Due to the existence of transaction costs, family-owned listed companies are an option for people to save transaction costs. In a family company, like ordinary physical assets, identity assets are also a very scarce resource. Since identity assets are not unique in time, they are spatially unique and can only be traded effectively through family firms. If these identity assets can not be effectively used, both father and son will cause great losses. Therefore, the existence of a family company lies in the existence of identity assets and the assets can not be traded and transferred in the market. However, if the identity is used to define property rights, the pros and cons of each other, therefore, should establish an effective governance mechanism for listed companies to benefit and eliminate disadvantages.