民营企业多元化战略、政治资源与公司绩效

Private Enterprises' Diversification,Political Resources and Corporate Performance

文章结合转型经济时期特征考察民营企业应如何构建有利的政企环境以保证企业多元化战略成功实施。实证研究结果表明,转型经济制度背景的特殊性要求民营企业要实施积极的政治策略以减少制度不确定性对企业战略实施的负面影响;行业特征、政府干预程度差异是影响民营企业政治策略的重要因素;民营企业积极实施政治策略将有助于改善多元化战略实施环境,提高多元化经营业绩。研究结论对于转型经济时期民营企业的战略实施具有一定的借鉴意义。

The study investigates how private enterprises construct beneficial government-enterprise environment to guarantee the effective implementation of diversification strategy based on transition economy characteristics. The empirical results suggest that the distinctiveness of transition economy asks for private enterprises to enforce positive politic tactics to alleviate the negative influence of institution uncertainty. Meanwhile, the study finds that the magnitude of industry and government intervention is an important factor influencing its political tactics. Furthermore, the empirical results show that private enterprises will benefit from political tactics to improve the environment for implementing diversification and diversification performance. The results give private enterprises some suggestions of implementing diversification during transition economy.