The Effects of Business Ties and Political Ties on the Growth of Technology-based SMEs
Corporate social ties may serve as a critical factor in the growth of technology-based SMEs.However,existing research on the relationship between business association,political association,and business growth lacks of empirical research on different types of business situations other than start-ups,there is also a lack of research on the role of environmental dynamics variable in enterprise network relationship and enterprise growth,in addition,the interaction between business and political ties and their impact on corporate growth are not fully studied.To this end,based on the open innovation theory and resource dependence theory,this paper explores the impact mechanism of business and political ties on the growth of technology-based SMEs,as well as the moderating effect of environmental dynamism.The regression analysis results based on survey questionnaire data from 282 technology-based SMEs in China indicate that business ties have a significant positive impact on the growth of technology-based SMEs,without an inverted U-shaped relationship,it is believed that the main reason is that the resource benefit brought by business ties for SMEs is still higher than the input cost and reciprocity trap of establishing and maintaining business ties.While political ties have an inverted U-shaped impact on the growth of technology-based SMEs,moderate political ties help advance the growth of technology-based SMEs,however,if its strength exceeds a certain threshold,technology-based SMEs are inclined to invest more resources in other capabilities,thereby having a negative impact on firm growth.Besides,the interaction between business and political ties negatively affects the growth of technology-based SMEs.Final,environmental dynamism negatively moderates the positive relationship between business ties and the growth of technology-based SMEs.That is,the higher the environmental dynamism,the weaker the promoting effect of business ties on the growth of technology-based SMEs.Therefore,technology-based SMEs must be cautious in using political ties,balancing the strength of business and political ties,and effectively integrating the resources from business and political ties by keeping these two external social ties balanced.
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