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Sustainability 2017, 9(1), 142; doi:10.3390/su9010142

Can High-Tech Ventures Benefit from Government Guanxi and Business Guanxi? The Moderating Effects of Environmental Turbulence

1
School of Business Administration, Nanjing Audit University, # 86, Yushan West Road, Jiangpu Street, Pukou District, Nanjing 211815, China
2
School of Business, Nanjing University, # 22, Hankou Road, Gulou District, Nanjing 210093, China
3
School of Health Economics and Management, Nanjing University of Chinese Medicine, # 138, Xianlin Road, Qixia District, Nanjing 210023, China
4
College of Business Administration, Inha University, # 253 Yonghyun-Dong, Nam-Gu, Incheon 402751, Korea
*
Author to whom correspondence should be addressed.
Academic Editors: Malin Song and Marc A. Rosen
Received: 20 October 2016 / Revised: 12 January 2017 / Accepted: 13 January 2017 / Published: 19 January 2017
View Full-Text   |   Download PDF [394 KB, uploaded 19 January 2017]   |  

Abstract

The construct of guanxi has become an interesting topic for analyzing how to do business more effectively and successfully in China’s economic transition period. Drawing on the guanxi strategy theory, this study examines when government guanxi (guanxi with the government and its officials) and business guanxi (guanxi with the business sectors) matter to new venture performance under two typical turbulent environments (institutional turbulence and market turbulence). According to empirical results using original data from 146 new ventures in clusters driven by China’s local governments, both government guanxi and business guanxi were positively related to new venture performance, and market turbulence was an important contextual factor influencing performance benefits of guanxi. However, the results reveal no moderating effects of institutional turbulence on direct relationships. Furthermore, the study provides a better conceptual and empirical understanding of why market turbulence is a double-edged sword for performance implications of guanxi in the rapidly changing business environment. View Full-Text
Keywords: government guanxi; business guanxi; institutional turbulence; market turbulence; new venture performance government guanxi; business guanxi; institutional turbulence; market turbulence; new venture performance
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Su, D.; Du, Q.; Sohn, D.; Xu, L. Can High-Tech Ventures Benefit from Government Guanxi and Business Guanxi? The Moderating Effects of Environmental Turbulence. Sustainability 2017, 9, 142.

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