科研之友
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摘要
It is an important practical issue for Chinese enterprises choosing their business growth strategy in China’s transitional economy,where the business has to consider the problem of being politically conscious and professionally competent,that is,choosing ‘red’ strategy or ‘expert’ strategy,or the ‘red and expert’ one.In this paper,we defined ‘red’ as the enterprise politically conscious action and their political connections while defined ‘expert’ as the efforts paid for the enterprise creativity accumulation.Based on theoretical studies in the literature,we constructed a conceptual model to study the relationship between red and expert strategy and the enterprise performance.After that,we carried out an empirical test based on the data from 173 enterprises surveyed from the Pearl River Delta in Guangdong Province.The results showed that: Even in Guangdong Pearl River Delta region,an area with higher degree of marketization,both red and expert can exert a significantly positive impact on the corporate financial performance and innovation performance.In addition,red and expert can bring about a much higher positive impact through their interaction.Finally,we concluded that the combination of ‘red and expert’ is the optimal choice for China business under the current institutional context.
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