Market and Nonmarket Strategies (NMS) in China: Performance Payoffs in Turbulent Environments

Long Zhang (), John A. Parnell () and Chuanhui Xiong ()
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Long Zhang: China University of Geosciences (Beijing)
John A. Parnell: University of North Alabama
Chuanhui Xiong: University of North Carolina At Pembroke

Asian Business & Management, 2021, vol. 20, issue 5, No 4, 644-665

Abstract: Abstract This paper investigates the financial and non-financial performance effects of strategic emphasis during times of market turbulence in China. A survey of 246 middle and upper-level managers in Beijing identified market turbulence as a direct driver of firm performance, a positive moderator of the link between market strategy and financial performance, and a negative moderator of the link between market strategy and non-financial performance. Market turbulence did not moderate links between either market strategy or nonmarket strategy and non-financial performance. These results suggest a performance payoff for leveraging NMS and a performance penalty for emphasizing market strategies during turbulent times.

Keywords: China; Nonmarket; Firm performance; Strategy; Turbulence (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1057/s41291-020-00103-5

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