| 1. |
- Andersson, Fredrik N G, et al.
(författare)
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A Matter of Time: Revisiting Growth Convergence in China
- 2013
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Ingår i: World Development. - : Elsevier BV. - 1873-5991 .- 0305-750X. ; 45:May, s. 239-251
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Tidskriftsartikel (refereegranskat)abstract
- China’s unbalanced growth strategy has seemingly fostered growing inter-regional growth disparities and there is little evidence of wealth trickling down from richer provinces to poorer provinces. Standard convergence tests, however, may be ill specified to detect underlying long-term growth trends in small samples due to the pronounced and frequent inter-regional short-term fluctuations. Our paper suggests a novel approach to distinguish between these long-term growth trends and short-term fluctuations. Based on provincial data from 1978 to 2009, our results indicate that China’s provinces only diverge over the shortterm. Over the long term, provinces cluster into two converging growth clubs.
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| 2. |
- Andersson, Fredrik N G, et al.
(författare)
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Are Capitalists Green? Firm Ownership and Provincial CO2 emissions in China
- 2018
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Ingår i: Energy Policy. - : Elsevier BV. - 1873-6777 .- 0301-4215. ; 123, s. 349-359
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Tidskriftsartikel (refereegranskat)abstract
- In China, a large private sector has evolved alongside a still sizeable state-owned sector that is subject to government control. Several studies have found that in this mixed economy, the private sector is economically more efficient than the state-owned sector. In this paper, we investigate whether private firms are also more carbon efficient than state-owned firms. Using a macroeconomic panel data model with provincial data from 1992 to 2010, we confirm that private firms emit less carbon dioxide than state-owned firms. Our results imply that future reforms, such as ongoing privatization, introduced to increase the economic efficiency of state-owned companies will also mitigate emissions growth. The policy lesson, not only for China but for developing countries maintaining a large state-owned sector, is that economic efficiency and energy efficiency are conjoined mutual benefits.
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| 3. |
- Andersson, Fredrik N G, et al.
(författare)
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Lending for Growth? A Granger Causality Analysis of China's Finance-Growth Nexus
- 2016
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Ingår i: Empirical Economics. - : Springer Science and Business Media LLC. - 0377-7332 .- 1435-8921. ; 51:3, s. 897-920
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Tidskriftsartikel (refereegranskat)abstract
- China’s banking sector is dominated by four distinct organizational forms: policy banks (PBs), state-owned commercial banks (SOCBs), joint stock commercial banks (JSCBs), and rural credit cooperatives (RCCs). Economic analyses have especially focused on the development of bank efficiency and profitability over time. The equally important question, which of China’s banking institutions promote economic growth, has not been explored using macroeconomic data. Our study uses a novel data set covering the period 1997 to 2008 and employ Granger causality tests to estimate the finance-growth nexus of each of these bank types. Our results show that SOCBs and RCCs do not Granger-cause GDP growth and that SOCBs even have a negative effect on manufacturing growth. By contrast, PBs and JSCBs promote economic growth.
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| 4. |
- Burt, Ronald S., et al.
(författare)
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Cooperation Beyond the Network
- 2022
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Ingår i: Organization Science. - : Institute for Operations Research and the Management Sciences (INFORMS). - 1047-7039 .- 1526-5455. ; 33:2, s. 495-517
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Tidskriftsartikel (refereegranskat)abstract
- It is well known in economics, law, and sociology that reputation costs in a closed network give insiders a feeling of being protected from bad behavior in their relations with one another. A person accustomed to doing business within a closed network is, therefore, likely to feel at unusual risk when asked to cooperate beyond the network because of absent reputation-cost security. It follows that business leaders in more closed networks should be less likely to cooperate beyond their network (Hypothesis 1). Success reinforces the status quo. Business leaders successful with a closed network associate their success with the safety of their network, so they should be even less likely to cooperate with a stranger (Hypothesis 2). We combine network data from a heterogeneous area probability survey of Chinese CEOs with a behavioral measure of cooperation to show strong empirical support for the two hypotheses. CEOs in more closed networks are less likely to cooperate beyond their network, especially those running successful businesses: successful CEOs in closed networks are particularly likely to defect against people beyond their network. The work contributes to a growing literature linking network structure with behavior: here, the closure that facilitates trust and cooperation within a network simultaneously erodes the probability of cooperation beyond the network, thereby reinforcing a social boundary around the network. Taking our results as a baseline, we close sketching new research on personality, homophily, network dynamics, and variation in themeaning of "beyond the network."
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| 5. |
- Burt, Ronald S., et al.
(författare)
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Early Network Events in the Later Success of Chinese Entrepreneurs
- 2017
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Ingår i: Management and Organization Review. - : Cambridge University Press (CUP). - 1740-8776 .- 1740-8784. ; 13:3, s. 497-537
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Tidskriftsartikel (refereegranskat)abstract
- We trace the social networks around Chinese entrepreneurs back to their firm's founding to learn about the role early events play in the later success of a business. We use name generator questions paired with career history questions to identify ‘event contacts’ missed by the usual focus on current business. We draw four conclusions from interviews with a large, stratified random sample of entrepreneurs: (1) Relations with event contacts stand out for guanxi qualities of high trust relatively independent of the surrounding network structure, and are critical to distinguishing more successful entrepreneurs from the less successful. (2) The substance of a significant event matters less than the fact that the entrepreneur deems it significant. (3) When family is turned to for support it is most likely at founding, but family is not the usual source of support at founding. Rather, entrepreneurs turn to people they have known for many years, typically people beyond the entrepreneur's family. (4) The transition from founding to first significant event stands out as distinctly consequential for later success. Entrepreneurs who turn for help on their first significant event to a person separate from, but especially close to, the founding contact are more successful in their business development. That early move is not visible in the later network around the entrepreneur.
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| 6. |
- Burt, Ronald S., et al.
(författare)
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More or less guanxi : Trust is 60% network context, 10% individual difference
- 2018
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Ingår i: Social Networks. - : Elsevier BV. - 0378-8733. ; 54, s. 12-25
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Tidskriftsartikel (refereegranskat)abstract
- The strong ties known in China as guanxi can be distinguished by a high level of trust relatively independent of the surrounding social structure. Using network data from a stratified probability sample of 700 entrepreneurs citing 4664 contacts, we study guanxi relative to other relations to learn how much individual differences such as well-being, business differences, political participation and demographic factors matter for the guanxi distinction. Two findings stand out: First, the connection between trust and social network is robust to most differences between individuals, especially business and political differences. Trust variance is 60% network context, and 10% individual differences. Trust increases within a relationship as network closure increases around the relationship, but some relationships mature into guanxi ties within which trust is high and relatively independent of the surrounding social structure. Second, when individual differences matter, they concern social isolation. Guanxi ties are more distinct in the networks around entrepreneurs with small, marginal families, and around those with small, closed networks. Both categories of entrepreneurs are likely to experience difficulties with respect to resource access and doing business with people beyond their network, which may explain why longstanding guanxi ties linked to important events are particularly distinct for these entrepreneurs.
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| 7. |
- Burt, Ronald S., et al.
(författare)
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Political connection and disconnection : Still a success factor for Chinese Entrepreneurs
- 2020
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Ingår i: Entrepreneurship Theory and Practice. - : SAGE Publications. - 1042-2587 .- 1540-6520. ; 44:6, s. 1199-1228
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Tidskriftsartikel (refereegranskat)abstract
- Political connection in China is often tested for correlation with business success and government support under a suspicion that connected entrepreneurs enjoy special favors and protection. Research evidence is mixed. In revisiting the debate on political capital in China, we apply a socially embedded perspective on political connection. To this end we introduce two methodological innovations: (a) We develop a broader measure of political connectedness that covers the continuum from political connection to disconnection. (b) We integrate data on political connection with social network data. Specifically, we explore how the social structure around the individual entrepreneur affects performance above and beyond the often tested association between political ties and performance. We draw two conclusions: (1) The success association with political connection is discontinuous. Advantage is less for entrepreneurs weakly connected politically, but significant additional disadvantage arises for the politically disconnected. (2) The additional is that entrepreneurs disconnected from government show no benefit from having an advantaged business network. The politically connected with an advantaged business network show more prosperous business, higher returns on assets, and more likely survival over time. The politically disconnected show none of these benefits. We caution the entrepreneur who plans to ignore the government.
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| 8. |
- Burzynska, Katarzyna, et al.
(författare)
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Interbank Relations, Environmental Uncertainty, and Corporate Credit Access in China
- 2020
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Ingår i: Management and Organization Review. - : Cambridge University Press (CUP). - 1740-8776 .- 1740-8784. ; 16:3, s. 595-628
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Tidskriftsartikel (refereegranskat)abstract
- We hypothesize that informal bank networks influence corporate credit access in China. Our sample comprises a panel of 515 corporations listed on China's stock exchanges with a total of 1,052 firm-year observations, holding a total of 7,009 major bank loans from 183 distinct banks between 2007 and 2012. Results support the hypothesis that closure in bank networks facilitates credit access. We further show that the positive closure-performance association offers fewer advantages if financial markets and the legal infrastructure are relatively well developed. Our findings contribute to an emergent literature examining how informal networks can productively substitute weak formal institutions, and how the interplay between informal networks and network embeddedness shapes individual and corporate strategies.
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| 9. |
- DellaPosta, Daniel, et al.
(författare)
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Endogenous Dynamics of Institutional Change
- 2017
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Ingår i: Rationality and Society. - : SAGE Publications. - 1461-7358 .- 1043-4631. ; 29:1, s. 5-48
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Tidskriftsartikel (refereegranskat)abstract
- A parsimonious set of mechanisms explains how and under which conditions behavioral deviations build into cascades that reshape institutional frameworks from the bottom up, even if institutional innovations initially conflict with the legally codified rules of the game. Specifically, we argue that this type of endogenous institutional change emerges from an interplay between three factors: the utility gain agents associate with decoupling from institutional equilibria, positive externalities derived from similar decoupling among one’s neighbors, and accommodation by state actors. Where endogenous institutional change driven by societal action is sufficiently robust, it can induce political actors to accommodate and eventually to legitimize institutional innovations from below. We provide empirical illustrations of our theory in two disparate institutional contexts—the rise of private manufacturing in the Yangzi delta region of China since 1978, focusing on two municipalities in that region, and the diffusion of gay bars in San Francisco in the 1960s and 1970s. We validate our theory with an agent-based simulation.
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| 10. |
- Holm, Håkan J., et al.
(författare)
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Strategic Decisions : Behavioral Differences Between CEOs and Others
- 2016
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- Differences in strategic decision making between CEOs and other people are interesting since CEOs make important economic decisions and impact values and norms in society. Our study combines a large stratified random sample of 199 CEOs of medium-size firms with a carefully selected control group of 200 comparable people. All subjects participated in three different incentivized strategic games — Prisoner’s Dilemma, Chicken, Battle-of-the-Sexes. We report substantial and robust differences in both behavior and beliefs between the CEOs and the control group. The CEOs are closer to the socially optimal strategy profile in all games. Hence, as a group the CEOs out-competes the control-group members and thereby receives higher average earnings, but not by being smarter (in the narrow “rationalistic” sense) or more selfish, but by being more cooperative and less aggressive.
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