Managerial ties and firm performance in an emerging economy: Tests of the mediating and moderating effects

Gang Wang (), Xu Jiang (), Chang-Hong Yuan () and Ya-Qun Yi ()

Asia Pacific Journal of Management, 2013, vol. 30, issue 2, 537-559

Abstract: Although the literature documents the direct effects of managerial ties on firm performance, the empirical results are divergent and inconclusive. To explain these disparities, this study (1) develops and tests a model that establishes the role of external resource acquisition as a salient mediating mechanism through which managers’ business and political ties influence firm performance; and (2) examines the moderating role of environmental turbulence that further explains the impact of managerial ties on resource acquisition (the mediator). Results from a survey of 253 firms in China indicate that resource acquisition plays a partial mediating role in the relationships between the two sub-dimensions of managerial ties and firm performance. Environmental turbulence shows a curvilinear (i.e., inverted U-shaped) moderating effect on the business ties–resource acquisition relationship, whereas it dampens the positive effect of political ties on resource acquisition. Theoretical and managerial implications are discussed. Copyright Springer Science+Business Media, LLC 2013

Keywords: Managerial ties; Resource acquisition; Environmental turbulence; Performance; Emerging economy (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1007/s10490-011-9254-8

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