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1、ABSTRACTPoliticalconnectionofenterpriseisaworldwideproblem,whichiscommonincountriesaroundtheworld,andintheenvironmentofcurrentChina'sspecificpoliticalandeconomicsystemtransformation,politicalconnectionofenterprisearerelativelycommon.Althoughsince1992themarke
2、teconomicsystemestablishedandcontinuedperfection,intheeconomictransitionofChina,thegovernmentstillholdsmanykeyresources,whicharenecessaryfortheenterprises’development,andtheinterventionontheeconomyisstillstrong.Inordertobeabletooccupythedominantpositioninthe
3、fiercemarketcompetition,enterprisesmakeeffortstoimprovethemselvesvariousaspectsofstrength,andatthesametimeconstantlyseekopportunitiestosetupavarietyofcloselycontactwiththegovernment.Throughvariouschannelsbuildsadirectorindirectcontactwiththegovernment,whichi
4、scalled"politicalconnection"or"politicalrelations".Thispaperadoptsthemethod,whichiscombinednormativeresearchandempiricalresearch,tostudytheinfluenceofthepoliticalconnectiononenterpriseperformance.Onthebasisofreviewingtherelevantliteratureathomeandabroad,this
5、paperintroducesthedefinitionofpoliticalconnectionandchoiceofmeasurementmethodaswellasmotivesandmethods,whichenterprisesestablishpoliticalconnection.Whenwesortouttheliterature,whichistheeffectofpoliticalconnectiononenterpriseperformance,findthatpoliticalconne
6、ctionisa"double-edgedsword".Theenterprisesthroughthepoliticalconnectioncanobtainbenefits,likefinancingfacilities,propertyrightsprotection,taxbreaksandindustryderegulation.Buttheenterprisesneedpayacertaincosttobuildandmaintainpoliticalconnection,suchasmanagem
7、entofenterprisemaybelimitedbythe"visiblehand"ofgovernmentinterventionandshouldersomefunctionsofthegovernment.Inordertosolvethelocalemploymentproblemlikeincreasingadditionalpersonnel,increasingtheburdenoftheenterprises,andevenappearingtheinefficiencyofactivit
8、iessuchasexcessiveinvestment,theoperationofenterprisedeviatesfromtheprofitmaximizationgoalanddamagetheinterestsoftheenterprise.Therefore,atpresentacademiadon’thaveaconsistentconclusionthatpoliti
