Nonmarket Strategy Performance: Evidence from U.S. Electric Utilities
研究了企业非市场战略在影响公共政策结果方面的绩效决定因素，利用美国电力公司13年间的费率调整申请数据，发现政治市场吸引力、竞争格局及内部能力共同影响非市场绩效。
This paper develops and tests a theory of the performance determinants of a firm's nonmarket strategy in shaping public policy outcomes. Building on the concept of political market attractiveness, we argue that nonmarket performance is influenced by both the characteristics of a firm's regulatory and political environment, especially rivalry among interest groups or politicians, and by internal capabilities that enable a firm to mitigate political transaction costs. Using data on regulatory filings for rate increases made by U. S. Electric utilities over a 13-year period, we find empirical support for our approach.