Abstract
Based on both resource-based theory and institution-based theory, this study places political connections, acquisition of entrepreneurial resources, institutional environment, and corporate re-entrepreneurial performance into the same research framework. Using data from 223 real estate companies in China as a sample and with the help of the statistical tools SPSS 22.0 and Mplus 7.0, the study examines the internal influence mechanism of political connections on corporate re-entrepreneurial performance as well as the mediating effect of acquisition of entrepreneurial resources and the moderating effect of institutional environment. The empirical results show that both explicit political connections and implicit ones have positive impacts on corporate re-entrepreneurial performance through the mediating effect of acquisition of entrepreneurial knowledge resources and entrepreneurial asset resources. Meanwhile, institutional environment positively regulates the relationship between political connections and corporate re-entrepreneurial performance. The results of the study suggest that political connections have positive impacts on corporate re-entrepreneurial performance under the circumstances of China’s transitional economy, but the impacts are restricted by institutional environment to a large extent.
Highlights
Corporate entrepreneurship (CE), as a significant driving force of economic development, has attracted much attention and the research on it has become one of the important subjects in the field of management
Under the circumstances of global competition, how to sustain long-term competitiveness has become a great challenge for economic organizations and conducting corporate re-entrepreneurship has become necessary for most of them
Favorable political connections help promote corporate re-entrepreneurial performance, which is well in line with the research result of Liu et al that political connections are an important means of promoting corporate performance [68] and verifies Baron’s view that the motivation of corporate political activities is to acquire resources and competitive advantages [120]
Summary
Corporate entrepreneurship (CE), as a significant driving force of economic development, has attracted much attention and the research on it has become one of the important subjects in the field of management. Previous studies have shown that CE helps economic organizations acquire competitive advantages and has a remarkable impact on improving their performance [8,9,10], and is recognized as an important means of achieving a high level of corporate performance [11]. It is because of the significant role of CE in maintaining and renewing competitive positioning that the study of it is of greater and greater importance [12]
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