The fit between managerial ties and resource bundling capabilities: Implications for performance in manufacturing firms
研究中国制造企业中管理关系（商业关系和政治关系）与资源捆绑能力如何共同影响企业绩效，发现商业关系正向影响绩效，政治关系呈倒U型影响，且资源捆绑能力起调节作用。
This study advances managerial ties and firm performance research by examining the contingent value of resource bundling capabilities in the context of China's manufacturing industries. Using a sample of 290 manufacturing firms, we demonstrate that managerial ties and resource bundling capabilities can interactively impact firm performance. Specifically, business ties are positively related to, but political ties have an inverted U-shaped relationship with manufacturing firm performance. Further, business and political ties can interact to positively impact manufacturing firm performance. More importantly, improving resource bundling capabilities has a positive moderating effect on the relationship between managerial ties and manufacturing firm performance, whereas pioneering resource bundling capabilities has a negative moderating effect. Overall, we contribute to the literature by explicating different roles of business ties versus political ties played in creating value for manufacturing firms and extending the contingent view of managerial ties from a resource management perspective.