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Political connections and corporate diversification in emerging economies: Evidence from China |
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| Authors: | Weiwen Li Ai He Hailin Lan Daphne Yiu |
| Institution: | 1. Department of Business Administration, Sun Yat-Sen Business School, Guangzhou, China 2. School of Economics and Commerce, South China University of Technology, Guangzhou, China 3. School of Business Administration, South China University of Technology, Guangzhou, China 4. Department of Management, The Chinese University of Hong Kong, Hong Kong, Hong Kong |
| Abstract: | Drawing upon the resource-based view, this study examines how political connections affect corporate diversification in an emerging economy. Data from a sample of 1,280 Chinese public firms over 2002?C2005 show a strong positive relationship between political connections and corporate diversification. We also find that the positive relationship between political connections and corporate diversification is moderated by the level of state ownership in firms and the level of regional institutional development. Theoretical and managerial implications are discussed. |
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