Nonmarket strategy performance: Evidence from US electric utilities

• 成果类型: Article; Proceedings Paper
• 署名作者: Bonardi, Jean-Philippe; Holburn, Guy L. F.; Vanden Bergh, Richard G.
• 署名单位: Western University (University of Western Ontario); University Western Ontario Hospital; University of Vermont
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• 发表日期: 2006
• 页码: 1209-1228
• 关键词: CORPORATE POLITICAL STRATEGIES; resource-based view; firm; PARTICIPATION; determinants; POLICY; diversification; integration; competence; responses

摘要

This paper develops and tests a theory of the performance determinants of a firm's nonmarket strategy in shaping public policy outcomes. Building on the concept of political market attractiveness, we argue that nonmarket performance is influenced by both the characteristics of a firm's regulatory and political environment, especially rivalry among interest groups or politicians, and by internal capabilities that enable a firm to mitigate political transaction costs. Using data on regulatory filings for rate increases made by U.S. electric utilities over a 13-year period, we find empirical support for our approach.