| Summary: | 碩士 === 國立中正大學 === 會計與資訊科技研究所 === 100 === The purpose of this paper is to investigate the effect of political Guanxi on firm performance. This article studies two dimensions of political Guanxi and uses empirical data to analyze how different political Guanxi and their interaction affect firm performance. These factors are analyzed in a dynamic context using 1,510 firms listed on the China’s two Stock Exchange from Year 2008 to 2010. The empirical results show that the effect of institutional Guanxi is found to have significantly negative effect on firm performance, and personal Guanxi is found to have significantly positive effect on firm performance. Furthermore, the interaction of political Guanxi is found to have insignificantly positive effect on firm performance, but there exists an offsetting effect between institutional Guanxi and personal Guanxi on firm performance.
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