The Complex Impact of Relational Embeddedness on Enterprise Value: The Moderating Effect of Environmental Dynamics
Based on social network theory and dynamic capability theory, a theoretical model is constructed that specifies the process through which relational embeddedness affects enterprise value. The authors selected 612 Shenzhen and Shanghai A-share manufacturing enterprises in the CSMAR database as sample...
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| Format: | Article |
| Language: | English |
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Wiley
2021-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2021/6526934 |
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| author | Hui Zhang |
| author_facet | Hui Zhang |
| author_sort | Hui Zhang |
| collection | DOAJ |
| description | Based on social network theory and dynamic capability theory, a theoretical model is constructed that specifies the process through which relational embeddedness affects enterprise value. The authors selected 612 Shenzhen and Shanghai A-share manufacturing enterprises in the CSMAR database as sample enterprises, and a multiple regression analysis method was used to test hypotheses. The results show that (1) there is an inverted “U” relationship between relational embeddedness and enterprise value; that is, the enterprises’ relational embeddedness has an “inflection point” effect on the enterprise value; (2) the enterprises’ resource integration capability plays an intermediate role in the impact of relational embeddedness on enterprise value; (3) the market environmental dynamics and technology environmental dynamics play negative regulatory roles in the inverted “U” relationship between relational embeddedness and enterprise value, and they play different regulatory roles before and after the enterprise relational embeddedness reaches the “inflection point”; that is, before the relational embeddedness reaches the inflection point, the technology environmental dynamics plays a major negative regulatory role, while after the relational embeddedness reaches the inflection point, the market environmental dynamics plays a major negative regulatory role. Compared with the market environmental dynamics, the impact of technology environmental dynamics on the relationship between relational embeddedness and enterprise value is more significant; that is, the effect of relational embeddedness on enterprises value is more sensitive to the technology environmental dynamics. |
| format | Article |
| id | doaj-art-bb05285b6a0945b28a05ab5e37d36148 |
| institution | Kabale University |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2021-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-bb05285b6a0945b28a05ab5e37d361482025-02-03T01:24:41ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2021-01-01202110.1155/2021/65269346526934The Complex Impact of Relational Embeddedness on Enterprise Value: The Moderating Effect of Environmental DynamicsHui Zhang0Shandong University of Finance and Economics, School of Business Administration, Jinan 250014, ChinaBased on social network theory and dynamic capability theory, a theoretical model is constructed that specifies the process through which relational embeddedness affects enterprise value. The authors selected 612 Shenzhen and Shanghai A-share manufacturing enterprises in the CSMAR database as sample enterprises, and a multiple regression analysis method was used to test hypotheses. The results show that (1) there is an inverted “U” relationship between relational embeddedness and enterprise value; that is, the enterprises’ relational embeddedness has an “inflection point” effect on the enterprise value; (2) the enterprises’ resource integration capability plays an intermediate role in the impact of relational embeddedness on enterprise value; (3) the market environmental dynamics and technology environmental dynamics play negative regulatory roles in the inverted “U” relationship between relational embeddedness and enterprise value, and they play different regulatory roles before and after the enterprise relational embeddedness reaches the “inflection point”; that is, before the relational embeddedness reaches the inflection point, the technology environmental dynamics plays a major negative regulatory role, while after the relational embeddedness reaches the inflection point, the market environmental dynamics plays a major negative regulatory role. Compared with the market environmental dynamics, the impact of technology environmental dynamics on the relationship between relational embeddedness and enterprise value is more significant; that is, the effect of relational embeddedness on enterprises value is more sensitive to the technology environmental dynamics.http://dx.doi.org/10.1155/2021/6526934 |
| spellingShingle | Hui Zhang The Complex Impact of Relational Embeddedness on Enterprise Value: The Moderating Effect of Environmental Dynamics Discrete Dynamics in Nature and Society |
| title | The Complex Impact of Relational Embeddedness on Enterprise Value: The Moderating Effect of Environmental Dynamics |
| title_full | The Complex Impact of Relational Embeddedness on Enterprise Value: The Moderating Effect of Environmental Dynamics |
| title_fullStr | The Complex Impact of Relational Embeddedness on Enterprise Value: The Moderating Effect of Environmental Dynamics |
| title_full_unstemmed | The Complex Impact of Relational Embeddedness on Enterprise Value: The Moderating Effect of Environmental Dynamics |
| title_short | The Complex Impact of Relational Embeddedness on Enterprise Value: The Moderating Effect of Environmental Dynamics |
| title_sort | complex impact of relational embeddedness on enterprise value the moderating effect of environmental dynamics |
| url | http://dx.doi.org/10.1155/2021/6526934 |
| work_keys_str_mv | AT huizhang thecompleximpactofrelationalembeddednessonenterprisevaluethemoderatingeffectofenvironmentaldynamics AT huizhang compleximpactofrelationalembeddednessonenterprisevaluethemoderatingeffectofenvironmentaldynamics |