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经济转型时期,企业政治关联会对经营绩效产生影响,但是不同类型的政治关联方式对企业经营绩效的作用机制是有区别的。本文将企业政治关联区分为高管个人政治关联和企业天然政治关联,其中高管个人政治关联又进一步细分为政府官员类政治关联和委员代表类政治关联。通过对农业类上市公司2004—2012年的经验数据进行实证研究发现,高管个人政治关联对农业企业绩效有显著的积极影响,其中代表委员类政治关联对企业绩效的影响大于政府官员类政治关联;企业天然政治关联对农业企业绩效有消极影响。
During the period of economic transition, the political association of enterprises will have an impact on business performance, but the mechanism of the different types of political connections has different effects on the performance of enterprises. This article divides the political relations of enterprises into the personal political connections of executives and the natural political connections of enterprises, among which the personal political connections of senior executives are further subdivided into the political connections of government officials and the representatives of members. Empirical study on the empirical data of agricultural listed companies from 2004 to 2012 found that personal political associations of executives have a significant positive impact on the performance of agricultural enterprises, of which the political affiliation of representative members has a greater impact on corporate performance than that of government officials The natural political connection of enterprises has a negative impact on the performance of agricultural enterprises.