firm resources, governmental power, and privatization

《firm resources, governmental power, and privatization》由会员上传分享，免费在线阅读，更多相关内容在工程资料-天天文库。

1、JournalofManagementhttp://jom.sagepub.com/FirmResources,GovernmentalPower,andPrivatizationKehanXu,LaszloTihanyiandMichaelA.HittJournalofManagementpublishedonline12August2014DOI:10.1177/0149206314546194Theonlineversionofthisarticlecanbefoundat:http://jom.sagepub.com/content/early/2014/08/07/0149

2、206314546194Publishedby:http://www.sagepublications.comOnbehalfof:SouthernManagementAssociationAdditionalservicesandinformationforJournalofManagementcanbefoundat:EmailAlerts:http://jom.sagepub.com/cgi/alertsSubscriptions:http://jom.sagepub.com/subscriptionsReprints:http://www.sagepub.com/journa

3、lsReprints.navPermissions:http://www.sagepub.com/journalsPermissions.nav>>OnlineFirstVersionofRecord-Aug12,2014WhatisThis?Downloadedfromjom.sagepub.combyguestonAugust13,2014546194JOMXXX10.1177/0149206314546194JournalofManagement/MonthXXXXXuetal./FirmResources,GovernmentalPower,andPrivatizationr

4、esearch-article2014JournalofManagementVol.XXNo.X,MonthXXXX1–27DOI:10.1177/0149206314546194©TheAuthor(s)2014Reprintsandpermissions:sagepub.com/journalsPermissions.navFirmResources,GovernmentalPower,andPrivatizationKehanXuSunYat-senUniversityLaszloTihanyiMichaelA.HittTexasA&MUniversityWeexamineho

5、wfirms’resourcesandthepoweroftheirgovernmentalownersinfluencethelikelihoodofprivatizationofstate-ownedenterprises.Usingdataon206Chinesepharmaceuti-calfirmsovertheperiodof2000to2007,wefoundthatfirmfinancialperformance(aproxyforfirmresources)increasedthelikelihoodofprivatization.Inadditiontofirmr

6、esources,weinves-tigatedhowaheterogeneousbodyofdecisionmakerswithinthegovernmentalhierarchyinflu-encesthelikelihoodoffirms’privatization.Wefoundthatprovincialgovernmentalowners’willingnesstoprivatizefirmsincreasedwhentheyhadhigherfiscalpower.Theresultsofthisstudyalsoindicatedanegativemoderating

7、influenceofprovincialfiscalpower:Higherfiscalpowerofprovincialgovernmentalownersweakenedtherelationshipbetweenfirmfinancialperformanceandthelikelihoodofprivatization.Keywords:privatization;China;statecapitalism;governmentalpower;f