[Retracted] The Investigation about the Heritage over Generations for the Family Enterprise and Firms Financialization Process

Table 1

Variable description.

Variable type	Variable name	Variable definition
Explained variable	Degree of financialization Fin	Held to maturity investment + financial assets available for sale + investment real estate + trading financial assets + loans and loans issued.
Explanatory variables	Intergenerational transfer Jc	When it is an executive, the number will be 0.
Intermediary variable	Productive investment proportion	Productive investment proportion = (net amount of fixed assets, - net amount of fixed assets, total assets
	Second-generation identity Son	Dummy variable: the samples with the identity of “eldest son and eldest daughter” in the identity of the second-generation maintainer are all taken as 1, otherwise it is 0.
Adjusting variable	Entrepreneur reputation Rep	Dummy variable: the heir who has won the honorary title at the municipal level or above the table shadow is 1, and the heir who has won the honorary title below the municipal level or the table color is 0
	Political identity Pc	If the one served will be at all levels or a representative of the National People’s Congress at all levels or a government official at all levels (including temporary posts), the number is 1, and the number of incense is 0