## **Main: The Impact of De-Familiarization on Green Innovation: Evidence from Family-Owned SRDI Firms in China**### **I. De-Familiarization and Green Innovation*** Research questions: How does de-familiarization in management and ownership affect green innovation? What is the mediating and moderating role of corporate governance, digital transformation, and market concentration? * Theoretical grounding: Socio-emotional wealth (SEW) theory, fixed-effects model, and an institutional perspective.### **II. Empirical Results*** De-familiarization through management de-familiarization (DFM) and ownership de-familiarization (DFO) significantly inhibit green innovation.* Corporate governance partially mediates the negative de-familiarization effect with a masking effect.* Digital transformation mitigates the negative impact of de-familiarization, while market concentration exacerbates it.### **III. Heterogeneity Analysis*** The negative impact of de-familiarization is stronger in: * Companies not yet listed as “Little Giants.” * Firms receiving higher government subsidies. * SRDI enterprises located in the eastern region. * Companies not classified as major pollution control units.### **IV. Policy Implications and Recommendations*** Strategically manage de-familiarization to mitigate its negative impact on green innovation.* Optimize resource allocation, implement tailored governance strategies, and promote sustainable growth.* Leverage digital transformation to enhance financial resources.* Encourage non-family members' environmental responsibility in management decision-making.* Implement a “dual-track” strategy: * Foster specialization and balance R&D efforts in green technologies in core industries. * Safeguard green innovation flexibility for firms with substantial government subsidies.