Research On The Influence Of Managerial Ties On Enterprise Performance Under The Condition Of Transition Economy

In the transitional economy,due to the imperfect market mechanism,the uncertainty of the external institutional environment and the existence of unfair competition,making the most of the managerial ties to obtain scarce resources is essential for enterprises to maintain the survival and development in the fierce competition market context.Managerial ties include both the business ties between the senior managers and the business partners,and the political ties between the senior managers and the government officials.As the largest developing country in the world,China is in a critical period of economic restructuring and structural adjustment.In this context,exploring the impact of managerial times on enterprise performance is not only the consideration of business management practice,but also being an important issue for the enterprise management research.The existing management research examines the relationship between managerial relationship ties and enterprise performance from different perspectives.However,there are few researches exploring the intermediary mechanism of managerial times to enterprise performance from the perspective of dynamic capability.These researches focus little on how to use the scarce resources obtained from managerial ties to bring more dynamic capacities for adding competitive advantages to improve business performance.In addition,in the study of the boundary conditions of managerial times on corporate performance,there are few studies focus on the competitive factors of microeconomic subjects,especially the moderator factors from the informal sector.On the basis of the existing literature and theory,this study,combined with the special background conditions under the condition of China’s transitional economy,from the perspective of richness of resource integration and the pioneering integration of resources in the theory of dynamic capabilities,examines how the business ties and political times affect corporate performance through the mediation of innovation model-the exploratory innovation and exploitative innovation,with a consideration of the moderator impact of the competition in the informal sector.Based on the survey data of China’s private enterprises from the World Bank Survey Group,this research has analyzed the relationship between the variables through the using of Stata 14.2 software,and the following conclusions were drawn.First of all,the political ties and business ties can influence the performance of enterprises through the intermediary role of enterprise exploratory innovation and exploitative innovation.Among them,the manager’s business ties have positive impact on the enterprise’s exploratory innovation and exploitative innovation,and the manager’s political ties have negative impact on the enterprise’s exploratory innovation,and have positive impact on the enterprise’s exploitative innovation.The enterprise’s exploratory innovation and exploitative innovation have a positive impact on corporate performance.At the same time,this study also confirms the moderator role of informal sector competition,that is,the informal sector competition will negatively regulate the relationship between business ties and exploratory innovation,and positively regulate the relationship between political ties and exploitative innovation.The research of this paper has some guiding significance to the research of management ties and enterprise performance and enterprise management practice.