Governments’ new policy frequency and firms’ performance in an emerging industry: the difference between family and non-family firms

Li Cai, Xin Gao (), Yan Ling and Franz Kellermanns
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Li Cai: School of Business and Management, 204, Jilin University
Xin Gao: School of Business and Management, 204, Jilin University
Yan Ling: Oakland University

International Entrepreneurship and Management Journal, 2023, vol. 19, issue 4, No 7, 1707-1737

Abstract: Abstract We examine how new policy frequency affects performance in the new-energy automobile companies from the industry’s inception to the present in China and distinguish the performance implication between family and non-family firms. We argue and find support that an inverted U-shaped relationship exists between new policy frequency, including the three sub-dimensions of economic and financial instruments (EFI), soft instruments (SI), and regulatory instruments (RI), and firm performance; in addition, this relationship is in general moderated by family firm status. We contribute to the institutional theory by adopting a dynamic view that tracks policies over time and showing differential effects of institutional changes on firms with and without family firm status. Implications for theory and policy are discussed.

Keywords: Goverment policy; Family firms; Emerging industry; Institutional change; New-energy automobile industry (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s11365-023-00864-3

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