Political Connections, Home Formal Institutions, and Internationalization: Evidence from China
基于资源依赖和制度视角，研究中国企业的政治关联如何阻碍其国际化，而母国正式制度发展则促进这一转型，并削弱政治关联的负面影响。
ABSTRACT This study draws on the resource dependence theory and institution-based view to examine political connections in the home market and home formal institutions for their impact on the internationalization of emerging market firms in the context of China. The results suggest that political connections at home may prevent emerging market firms from implementing internationalization strategies by reducing the dependence constraints imposed by local governments and foreign firms, whereas home formal institutional development may promote the strategy transition of emerging market firms from building political connections to international expansion and also reduce the negative impact of political connections. Overall, our findings indicate that political connections and formal institutions at home play an important role in shaping emerging market firms’ strategies of outward internationalization.