标题：A Two-pronged Approach to Political Partner Misconduct: Relationship and Capability Building
摘要：Relationships with political actors can turn into liabilities if the political actors are charged for misconduct. However, research has not sufficiently considered whether and how firms act to lessen the threat of such damage. We integrate theorizing on negative spillovers and organizational stigma to propose that firms may respond to dilute the risks of stigma-by-association arising from political partner misconduct through strategies designed to retain or regain socio-political approval. Firms may do so by (i) reducing spending in relationship building, or (ii) increasing spending in capability building. Using firm-level associations with politicians being investigated for corruption in China and a difference-in-difference research design, we find support for our theory. In addition, firms with state and foreign institutional owners are particularly sensitive to risks of stigma-by-association and respond more positively by adjusting their spending in relationship and capability building. Media coverage demonstrates the effectiveness of these responses, with firms that increase capability building in the form of R&D spending receiving more positive media coverage in the post-misconduct period. We contribute to theorizing about firm reactions to political partner misconduct, extending knowledge on the management of negative spillovers.
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郑维婷博士的文章发表于《Strategic Management Journal》、《Journal of Management》、《Research Policy》等管理学顶尖和权威学术期刊上。现任《Australian Journal of Management》副主编，并任《Strategic Management Journal》、《Journal of Business Research》、《Management and Organization Review》等学术期刊的编委成员。