现有关于家族企业形成原因的研究,基本都是从文化、观念、习俗这些社会资本元素出发,本文则试图从转型制度特征下核心员工离职创业的角度对当代中国家族企业的形成进行一个新的解释。企业的核心员工是企业竞争优势的主要载体,本文认为,在经济转型时期知识产权和商业秘密保护的法律相对薄弱、社会创业壁垒逐步降低、职业经理人市场建设处于初级阶段等制度因素的背景下,为了防范企业核心员工离职创业导致在同一行业内形成新的竞争,在位企业往往会采取家族性治理的方式。 The existing researches on the causes of the formation of family-owned enterprises all start from the elements of social capital such as culture, concept and custom. This paper attempts to make a new study on the formation of contemporary Chinese family-owned enterprises from the perspective of the departure of the key employees under the characteristics of the transitional system Explanation. The core staff of the enterprise is the main carrier of enterprise competitive advantage. This paper argues that against the backdrop of institutional factors such as the relatively weak laws protecting intellectual property and trade secrets during the period of economic transition, the gradual reduction of social entrepreneurship barriers and the initial stage of the market construction of professional managers, In order to prevent the core employees of the enterprise leaving the venture led to the formation of new competition in the same industry, the incumbent companies tend to take the form of a family of governance.