文献类型：期刊文献

英文题名：Explaining business excellence in Chinese firms: how does institutional relatedness matter?

作者：Yan, Haifeng[1];Wang, Qihu[1];Ke, Yi[1];Wang, Juan[2]

机构：[1]East China Univ Sci & Technol, Sch Business, Shanghai, Peoples R China;[2]Peking Univ, Sch Math Sci, Beijing, Peoples R China

年份：2021

卷号：15

期号：2

起止页码：263

外文期刊名：CHINESE MANAGEMENT STUDIES

收录：;WOS:【SSCI(收录号:WOS:000590724000001)】；

基金：National Natural Science Foundation of China 71972072, Shanghai Planning Office of Philosophy and Social Science 2018BGL028.

语种：英文

外文关键词：Business excellence; Foreign firms; Governments; Stock exchanges; Institutional relatedness

摘要：Purpose It is widely accepted that business excellence comes from firm-specific factors. However, it is still unclear how institutional relatedness - the degree of embeddedness with the dominant institutions that confer resources and legitimacy, influences the business excellence of the firm. The purpose of this study is to explore the influence of three kinds of institutional relatedness, i.e. home government ties, initial public offerings (IPOs) and alliances with foreign firms, on the business excellence of Chinese firms. Design/methodology/approach This study uses a sample of firms enlisted on the "Most Respected Companies" rank in China during the period 2002-2015 and their paired firms who are absent from the list, by means of ordinary least square regression estimator, to explore the relationship between institutional relatedness and business excellence. Findings The empirical results suggest that IPOs and alliances with foreign firms significantly strengthen firms' business excellence. Furthermore, home government ties have positive effects on outbound IPOs and alliances with foreign firms but hinder business excellence. Originality/value This study extends the business excellence literature by characterizing institutional rather than firm-specific factors from an institution-based view. It also enriches research on outcomes of institutional relatedness through investigating empirically its impact on business excellence. The findings provide new insights into the dual role of home government ties in achieving business excellence.