Research On The Relationship Between Strategic Orientations,Board Social Capital And Internationalization Rhythm

In recent years,due to the sharp depreciation of international assets,Chinese enterprises have turned to seek self-breakthrough and capital operation in the international scope,the international expansion of Chinese enterprises has become the new normal situation.In order to cope with the rapid changes in the international environment,some Chinese enterprises have adopted a jumping international expansion strategy to seize the opportunities and other enterprises have adopted a steady expansion strategy to improve the efficiency of knowledge absorption.But these different routines have important impact on cost efficiency and performance.Therefore,what are the factors that cause the enterprises to choose two different international expansion strategies,including steady-rhythm and jumping-rhythm? Is there any unique management belief of Chinese enterprises hidden behind the jumping or steady behavior rhythm patterns? According to the Attention-based View of the Firm,the allocation of enterprise attention will affect the process of managers’ identification and interpretation of related issues,and ultimately affect the strategic decision of the enterprise.Moreover,the resources and social relationship of the enterprise will affect the decision makers’ judgment on the current strategic environment,which will structurally reallocate their attention.Therefore,this research attempts to explore the mechanism of the influence of strategic orientations on the internationalization rhythm and the underlying moderating effect of board social capital between them under the Chinese transitional economy and institutional background,which can provide reference and suggestion for Chinese enterprises to effectively plan and implement international expansion strategies.Combining the Attention-based View of the Firm and Internationalization LLL Framework,based the previous literature,this research separates the strategic orientations into resource orientations and market orientations and divides board social capital into the social capital embedded in the commercial connections and political associations of directors.Also,the research constructs the theoretical model among strategic orientations,board social capital and internationalization rhythm and then puts forward a series of hypotheses.This research takes2619 empirical data of Chinese A-share manufacturing listed enterprises from 2007 to 2018 as research samples to verify the hypothesis.The conclusions are as follows.(1)Strategic orientations have an important influence on the internationalization rhythm.According to the result,resource orientations is significantly negatively correlated to internationalization rhythm,which is stronger in state-owned enterprises.Then the significant positive correlation exists between the market orientations and the internationalization rhythm,which is stronger among non-state-owned enterprises.(2)The board commercial connections will weaken the negative relationship between resource orientations and internationalization rhythm,and strengthen the positive relationship between market orientations and internationalization rhythm.(3)The board political associations will strengthen the negative relationship between resource orientations and internationalization rhythm,and weaken the positive relationship between market orientations and internationalization rhythm.This study enriches the time connotation of the theories related to internationalization process,expands the relevant research on internationalization rhythm and enriches the understanding and application of Attention-based View and Internationalization LLL Framework in emerging economies.In practice,this study has a certain enlightening significance for Chinese enterprises to plan and manage the rhythm of international expansion,and provides theoretical guidance for the identification and adjustment of strategic orientation of international enterprises and the strengthening of the board’s relationship networking ability,and provides references and suggestions for further deepening the cooperation between government and enterprises.