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Abstract Based on the theory of socioemotional wealth, this paper not only examined the relationship between family succession and innovation inputs in 394 Chinese family listed firms from 2009 to 2015, but also examined the moderating effects of the organizational context characteristic variable, environmental uncertainty,and the individual characteristic variable of family firm's governance subject, the successor's education.The results indicate that family succession negatively affects the innovation of family firms, and environmental uncertainty aggravates the negative impact of succession on innovation investment while the successor's education eases the negative impact of succession on innovation investment.Therefore, the family firms should take the extended socioemotional wealth into account when making strategic decisions to increase the scale of innovation inputs rationally, and pay attention to improve the successor's capacity, while the government should create a favorable financial, legal and business institutional environment for the succession and innovation of family firms, and provide supports for intellectual capital and entrepreneur network platform.
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| Fund:国家自然科学基金项目（70502024）；教育部新世纪优秀人才支持计划项目（NCET-11-0412） |
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