弃政从商:企业家从政经历与企业资源获取

Leaving Politics for Business: Entrepreneurs' Political Experiences and the Resources Acquisition

弃政从商是一个重要的社会现象。本文采用2011-2015年中国沪深A股上市公司数据,实证检验企业家从政经历给企业资源获取方面带来的影响以及影响机制。研究发现,第一,企业家从政经历可以帮助企业在获取与政府紧密相关的资源方面占据优势。第二,从政经历主要通过公务员特质和政商关系两种机制产生影响,且公务员特质在市场化程度更高的环境中作用效果更明显。第三,相比于国有企业,非国有企业中企业家从政经历对企业获取资源的影响有限。本文的研究解释了企业家弃政从商与企业资源获取的关系,丰富和补充了企业家背景特征和企业政治关联的研究。

Leaving politics for business is an important social phenomenon.Based on the data of Shanghai and Shenzhen A -share listed companies from 2011to 2015,this paper empirically tests the effects and influencing mechanisms of entrepreneurs'political experiences on the resources acquisition.First,we find that the political experience of entrepreneurs can help enterprises gain an advantage in obtaining resources closely related to the government.Second,the political experiences affect the resources acquisition mainly through the two mechanisms :the traits of the civil servants and government-business relationship,and the traits have an even more obvious effect in an environment with a higher degree of marketization.Third, compared to state-owned enterprises,the political experience of entrepreneurs in non-state-owned enterprises has limited impact on the access of enterprises to resources.The research in this paper explains the relationship between the entrepreneurs' political experiences and the resources acquisition,enriching and supplementing the research on entrepreneurial background and political connection.