主 题： The Crowding-out Effects of Political Ties on Market Capabilities: Evidence from China
报告人： 周政 博士
时 间： 5月18日（星期四）上午10:00
地 点： 宁远楼426教室
Abstract：This study argues that political ties may hurt firm performance during normal times by crowding-out market capabilities. First, political ties impede market capability building due to resource limitations and organizational inertia. Second, political ties hurt the efficiency of market capability utilization because of suboptimal strategies resulting from government interference and conflicting internal routines. Results based on listed private firms in China from 2006 to 2013 provide strong support for our propositions. We further find that both crowding-out effects are attenuated for firms with more resources, in highly competitive industries, and in better-developed regions. Our research contributes to extant literature by identifying new mechanisms of the dark side of political ties and by highlighting the potential damage of integrating market and nonmarket strategies.