The effect of political turnover on firms’ strategic change in the emerging economies: The moderating role of political connections and financial resources
- Title
- The effect of political turnover on firms’ strategic change in the emerging economies: The moderating role of political connections and financial resources
- Author
- 최성진
- Keywords
- China; Financial resources; Political turnover; Politicalconnections; Strategic change
- Issue Date
- 2021-12
- Publisher
- Elsevier Inc.
- Citation
- Journal of Business Research, v. 137, Page. 255-266
- Abstract
- Do external uncertainties hold back or accelerate firms’ strategic change? To examine this issue, we develop a theoretical framework on the relationship between policy uncertainty caused by political turnover and the level of a firm's strategic change and also theorize how political connections and financial resources affect firms’ response in the form of strategic change to environmental uncertainty. We test our framework with 16,451 firm-year observations of listed firms in China from 2008 to 2015 and find that political turnover has a negative influence on the level of a firm's strategic change. Moreover, this influence is mitigated by political connections and/or financial resources.
- URI
- https://www.sciencedirect.com/science/article/pii/S0148296321005956?via%3Dihubhttps://repository.hanyang.ac.kr/handle/20.500.11754/176372
- ISSN
- 0148-2963
- DOI
- 10.1016/j.jbusres.2021.08.034
- Appears in Collections:
- COLLEGE OF BUSINESS[S](경영대학) > BUSINESS ADMINISTRATION(경영학부) > Articles
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