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This book is about how Chinese entrepreneurs deal with China’s most important institution-the government-in their struggle to survive and even prosper in China’s transitional economy. It takes an "inside look" at several private firms in China and provides a first-hand account, as well as the underlying rationale and decision considerations, of their corporate political strategy. The book is based firmly on solid academic research but actually written with both practitioners and scholars in mind. It offers candid and insightful quotes and observations from the owners and executives of China’s private firms with regards to their dealing with the government. This book advances a typology of corporate political strategies based on the respective motivations of the business (the entrepreneurs and their firms) and the government (the government institutions and individual officials) as well as the modes of their interactions. Eight different types of political strategies by China’s private firms are identified and illustrated with real-life examples, ranging from one-night-stand, situational shopper, good ole friend, patronage seeker, model volunteer, institutional improviser, direct participator, to red hat insider. The book also dissects a living case and traces the development of one particular private firm, from its humble start-up to present day glory, which fittingly illustrates the evolution and dynamics of the various types of political strategies the firm employed at different stages of its growth. For anyone who wants to understand China’s private firms and the Chinese government, thus be able to deal with them more effectively, this book is a must-read.
Based on over 300 in-depth interviews with company executives, business association representatives, and government officials, this study identifies a wide range of national economic policies influenced by lobbying, including taxes, technical standards, and intellectual property rights. These findings have significant implications for how we think about Chinese politics and economics, as well as government-business relations in general.
This dissertation consists of four essays about corporate political strategies. The overarching question I explore in the dissertation is, "how might firms use political strategies to mitigate the expropriation hazards that result from underdeveloped market-supporting institutions and weak constraints on government power in emerging economies?" More specifically, the chapters in my dissertation examine how indigenous firms' incentives to invest in political strategies in emerging economies vary with the firms' resources and capabilities. To address the general topic, I explore three specific research questions: (1) which firms (mainly in terms of their market capabilities) invest more in political strategy; (2) whether political strategy is indeed effective in alleviating the expropriation hazards; and (3) which political strategy (collective political strategy or individual political strategy) is more effective in a given institutional environment. The first two essays address the first research question of which firms are more likely to use political strategy. Chapter 2 "Political Strategy in Emerging Economies" provides empirical evidence to support the argument that firms with greater market capabilities are more likely to pursue political strategy in order to reduce the hazards of expropriation generated by weak market-supporting institutions. Chapter 3 "Rent-Seeking vs. Hazard-Reducing Political Strategies" complements the essay in Chapter 2 by using formal models to provide stronger theoretical foundations for the intuition developed in Chapter 2. Chapter 4 "Impact of Corporate Political Strategy on Expropriation Hazards" addresses the second research question and offers a direct empirical test of whether political strategies reduce public and private expropriation hazards in the context of the Chinese private sector. Chapter 5 "Collective Political Action and the Institutional Environment" examines corporate political strategy in greater detail and addresses the third research question and empirically explores under what circumstances corporate collective political strategy is more likely to emerge than individual political strategy. This dissertation project contributes to the literature on corporate political strategy particularly in emerging economies, the literature on institutional substitution, and the literature on nonmarket strategy.
This book brings together conceptual and empirical analyses of the causes and consequences of changing business–government relations in China since the 1990s, against the backdrop of the country’s increased integration with the global political economy. More specifically, it provides an interdisciplinary account of how the dominant patterns of interactions between state actors, firms and business organizations have changed across regions and industries, and how the changing varieties of these patterns have interacted with the evolution of key market institutions in China. The contributors to this edited volume posit that business–government relations comprise a key linchpin that defines the Chinese political economy and calibrates the character of its constitutive institutional arrangements.
One of the most important outcomes of market reforms in China over the past 20 years has been the emergence of a significant domestic private sector, which now accounts for almost a third of China's GDP and is by far the country's most important source of employment growth. This book is the first in-depth analysis of the management and operation of these domestic private firms, which are defined as companies or organizations created by PRC citizens, including township enterprises and collectives. The book provides a comprehensive and multidisciplinary perspective on the factors important to the successful operation and growth of these firms. It begins with a review of the literature on the topic in three different disciplines - economics, sociology, and management - each followed by several chapters covering recent developments in these areas. Featuring contributions by distinguished scholars and China experts, the work concludes with an insightful chapter on the future of China's public sector in the global economy.
In this article, I argue that in emerging markets firms' market capabilities are positively related to the political strategies that they employ to reduce the risks of expropriation by public and private entities. I focus specifically on the moderating conditions, including institutional environments that have direct constraint on governmental power, supportive policies that promote private sector growth, and developed legal systems. My empirical analysis utilizes data on privately owned Chinese enterprises. The results show that firms' market capabilities -- as indicated by their asset turnover ratios and R&D intensity -- are positively related to their likelihood of participating in key policymaking political organizations but this relationship is weaker in provinces that have more effective constraints on governmental power, more supportive policies for private sector growth, and more developed legal systems.
Reveals how the CCP pursued global expansion by running the Chinese state like an organisation that acts as swiftly and flexibly as a firm.
I argue that external forces such as the state and the financial market used their political and market power to promulgate an ideal version of the "modern" firm (largely based on the American model), forcing Chinese firms to adapt their governance practices and strategic choices in tandem. From a broader perspective, it is a process of "modernizing" Chinese firms, or a process of building a "Modern Enterprise System" in China. Specifically, this study shows that the Chinese state was the major agent in the diffusion of the American shareholder-oriented corporate governance to Chinese companies, and both the diversification (pre-1997) and the de-diversification (post-1997) strategies of Chinese firms were largely driven by state policies. Furthermore, I find that China's financial market and institutional investors have been increasingly important in disciplining the corporate executives, shaping the corporate strategies and enhancing the performance of Chinese corporations over the last decade.
To explore what extended competition between the United States and China might entail out to 2050, the authors of this report identified and characterized China’s grand strategy, analyzed its component national strategies (diplomacy, economics, science and technology, and military affairs), and assessed how successful China might be at implementing these over the next three decades.