The Influence Of Political Connection And Government Support On The Performance Of Private Enterprises

China's economic development has gradually entered a new normal,private enterprises in order to ensure their own development needs to continue to innovate access to resources.Enterprises hope that through better communication with the government in the government support to obtain valuable competitive resources,become an important factor affecting business performance.In recent years,scholars began to study the impact of corporate political linkages and their performance,but for the impact of political links and performance of the path mechanism,the current academic community is not conclusive.In view of our unique political and economic systems,the impact of political links on private enterprise performance is even more important.In this paper,the private listed companies in Zhejiang are used as samples to test the influence of political correlation performance and the intermediary effect of government support.At the same time,this paper also discusses the difference of the influence of political connection on government support and performance of private enterprises in two scene variables: industry regulation and economic development level.Analyzes the reasons of government support and the role it can play in guiding the decision-making of the relationship between the government and enterprises in private enterprises,and enhances the innovation ability of private enterprises themselves.Based on a lot of domestic and foreign literatures,this paper analyzes the literatures of political connection,government support and enterprise performance,and reviews the theories of rent-seeking,resource dependence and social capital.And discusses the mainstream viewpoints on the key issues,such as connotation,definition,influence of government association performance.This study follows the logic reasoning analysis to the empirical test,and then to the policy recommendations of ideas to Zhejiang 2010-2015 private listed company data for the study sample,using multiple regression analysis of political relations on corporate performance,government support in politics The intermediary effect of the correlation on the performance of private enterprises,and the different effects of different industry regulation and different economic development degree.The results of this study are as follows:(1)The performance of the private enterprises with high political connection is better than that of the private enterprises with no political connection and low political connection.(2)government support plays an intermediary role in the influence of political connection on the performance of private enterprises.(3)In the government-dominated high regulation industry,the effect of political association performance is relatively low.(4)The higher the level of economic development,the higher the level of political relations performance than the level of economic development in the general area is more significant.An important condition for political association to be transformed into the determinants of performance is that enterprises can use government relations to strengthen government support and draw more valuable competitive resources.But this mechanism is regulated by industry regulation and economic development level and other scene variables.