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Institution, strategy, and performance: A co-evolution model in transitional China

Author

Listed:
  • Shisong Jiang
  • Limin Gong
  • Hua Wang
  • Chris Kimble

    (Euromed Marseille - École de management - Association Euromed Management - Marseille, MRM - Montpellier Research in Management - UPVM - Université Paul-Valéry - Montpellier 3 - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier)

Abstract

Over the last two decades, Chinese firms have grown quickly even in a complicated and conflicting institutional environment. Prior explanations focus on either government support at the institutional level, or imitation strategy at the firm level. We argue that these accounts are empirically inconclusive and theoretically insufficient in that they are unidirectional and contain a single perspective at a single level. Through a longitudinal case study of Geely Group, a leading private carmaker in China, we develop a co-evolution model of institutional environment, strategic ambidexterity, and innovation performance with a progression of positive feedback. We also propose a new managerial intentionality mechanism based on the positive feedback of innovation performance. Besides, we find that the role of government on firm growth is more complicated and dynamic than has been assumed. Overall, our co-evolution framework provides a more powerful and specific account of why transition economy firms have grown so fast.

Suggested Citation

  • Shisong Jiang & Limin Gong & Hua Wang & Chris Kimble, 2016. "Institution, strategy, and performance: A co-evolution model in transitional China," Post-Print halshs-01291558, HAL.
    • Handle: RePEc:hal:journl:halshs-01291558
    DOI: 10.1016/j.jbusres.2016.02.009
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    Cited by:

    1. Wei Jiang & Kui Wang & Kevin Zheng Zhou, 2023. "How Political Ties and Green Innovation Co-evolve in China: Alignment with Institutional Development and Environmental Pollution," Journal of Business Ethics, Springer, vol. 186(4), pages 739-760, September.
    2. Fjellström, Daniella & Bai, Wensong & Oliveira, Luis & Fang, Tony, 2023. "Springboard internationalisation in times of geopolitical tensions," International Business Review, Elsevier, vol. 32(6).
    3. Ding Wang & Jiang Wei & Niels Noorderhaven & Yang Liu, 2023. "Signaling Effects of CSR Performance on Cross-border Alliance Formation," Journal of Business Ethics, Springer, vol. 186(4), pages 831-850, September.
    4. Jiang, Wei & Luo, Daokang & Wang, Liwen & Zheng Zhou, Kevin, 2024. "Foreign ownership and bribery in Chinese listed firms: An institutional perspective," Journal of Business Research, Elsevier, vol. 174(C).
    5. Ma, Xiaofang & Chen, Jun & Dong, Wang & Su, Qiaoling, 2024. "Chief accountants weigh in: How professional leadership of SOEs influence investment efficiency," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    6. Ai, Qi & Tan, Hui, 2020. "Uncovering neglected success factors in post-acquisition reverse capability transfer: Evidence from Chinese multinational corporations in Europe," Journal of World Business, Elsevier, vol. 55(3).
    7. Li, Xue & Anwar, Sajid & Peng, Fei, 2022. "Cross-border acquisitions and the performance of Chinese publicly listed companies," Journal of Business Research, Elsevier, vol. 141(C), pages 575-588.
    8. Wei Jiang & Daokang Luo & Liwen W.L. Wang & Kevin Zheng Zhou, 2024. "Foreign ownership and bribery in Chinese listed firms: An institutional perspective," Post-Print hal-04432029, HAL.

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