A scanning of Solomon's Proverbs provides several reasons...
1. To show you don't hate them. "He who spares the rod hates his son but he who loves him is careful to discipline him" (13:24).
2. To give them hope. "Discipline your son, for in that there is hope; do not be a willing party to his death" (19:18).
3. To help them for a lifetime. "Train up a child in the way he should go, and when he is old he will not turn from it" (22:6).
4. To chase away foolishness. "Folly is bound up in the heart of a child but the rod of discipline will drive it far from him" (22:15).
5. To save his soul. "Do not withhold discipline from a child; if you punish him with the rod he will not die. Punish him with the rod and save his soul from death" (23:13-14).
6. For your own comfort. "Discipline your son and he will give you peace; he will bring delight to your soul" (29:17).
Parents need to read and understand these passages. So, too, should our children. We want them to see why for their own good, and for the good of their children as well.