Hostname: page-component-669899f699-b58lm Total loading time: 0 Render date: 2025-04-27T12:57:47.183Z Has data issue: false hasContentIssue false
  • English
  • Français

CEO Cross-Sector Work Experience and Public–Private Partnership Formation of Private Firms in China

Published online by Cambridge University Press:  13 September 2024

Anni Chen ,
Yue Wang  and
Jiayin Zhang
Anni Chen*
Affiliation:
School of Economics and Management, Southeast University, Nanjing 211189, China
Yue Wang
Affiliation:
Jesse H. Jones Graduate School of Business, Rice University, Houston 77005, Texas, USA
Jiayin Zhang
Affiliation:
School of Economics and Management, Tsinghua University, Beijing 100084, China
*
Corresponding author: Anni Chen ([email protected])
Get access Rights & Permissions [Opens in a new window]

Abstract

As the need for collaboration across multiple organizations to deal with complex social issues such as poverty, crime, and public health grows, Public–Private Partnership (PPP) is of increasing importance. However, little is known about when and why private firms engage in such partnerships. Drawing on upper-echelon theory and the information-processing perspective, we highlight the importance of institutional knowledge and information embedded in CEO cross-sector work experience. We argue that such tacit knowledge and information enables CEOs to better identify the potential risks associated with PPPs. Consequently, CEOs with cross-sector work experience tend to be more cautious in participating in such partnerships, especially in developing economies like China, where private actors face greater information incompleteness concerning post-collaboration hazards due to the government's selective disclosure. Moreover, we develop a multi-moderator framework in which regional marketization and political connection alter the main effect by serving as supplementary information channels for private actors. A panel dataset of Chinese private listed firms from 2013 to 2021 provides strong support for our hypotheses. This study contributes to our understanding of the micro-foundation of PPP formation and draws attention to CEOs’ prior career experiences in different organizational forms.

摘要

摘要

随着多组织协作在应对贫困、犯罪和公共卫生等复杂社会问题中发挥着愈来愈关键的作用，政府和社会资本合作（PPP）也变得越来越重要。然而，关于私营企业何时以及为何参与这类合作伙伴关系，我们知之甚少。基于高层梯队理论和信息处理视角，我们认为 CEO 跨制度工作经验中所蕴含的制度知识和信息至关重要，这种隐性知识和信息使 CEO 能够更好地识别 PPP 在发展中国家的潜在风险。在中国，政府对 PPP 项目所带来的机会与风险倾向于进行选择性披露，导致私营企业面临不对称的信息环境。因此，与只有私营企业工作经历的 CEO 相比，同时具有公共部门与私营企业工作经验的 CEO 在参与此类合作时往往更为谨慎。此外，我们还发现区域市场化程度和企业政治关联可以作为补充信息的渠道改变 CEO 跨制度工作经验对企业 PPP 决策的影响。本文选取 2013—2021 中国私营上市公司数据样本为我们的研究假设提供了有力支持。本研究有助于我们理解 PPP 形成的微观基础，并引发对 CEO 在不同组织形式中的职业经验的关注

Keywords

CEO work experienceinformation processingPublic–Private Partnership (PPP)upper-echelon政府和社会资本合作（PPP）CEO 工作经验高层梯队理论信息处理视角
Type
Article
Information
Management and Organization Review , Volume 20 , Issue 3 , June 2024 , pp. 487 - 516
Copyright
Copyright © The Author(s), 2024. Published by Cambridge University Press on behalf of International Association for Chinese Management Research

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Article purchase

Temporarily unavailable

References

Ahuja, G. 2000. Collaboration networks, structural holes, and innovation: A longitudinal study. Administrative Science Quarterly, 45(3): 425–455.10.2307/2667105CrossRefGoogle Scholar
Al-Tabbaa, O., Leach, D., & Khan, Z. 2019. Examining alliance management capabilities in crosssector collaborative partnerships. Journal of Business Research, 101: 268–284.10.1016/j.jbusres.2019.04.001CrossRefGoogle Scholar
Argote, L., & Miron-Spektor, E. 2011. Organizational learning: From experience to knowledge. Organization science, 22(5): 1123–1137.10.1287/orsc.1100.0621CrossRefGoogle Scholar
Baum, J. A., & Oliver, C. 1991. Institutional linkages and organizational mortality. Administrative Science Quarterly, 36(2): 187–218.10.2307/2393353CrossRefGoogle Scholar
Bellier, M. 2003. Private participation in infrastructure in China: Issues and recommendations for the road, water, and power sectors. Washington, DC: World Bank Publications.10.1596/0-8213-5439-6CrossRefGoogle Scholar
Bennett, J., & Iossa, E. 2006. Delegation of contracting in the private provision of public services. Review of Industrial Organization, 29(1): 75–92.10.1007/s11151-006-9110-zCrossRefGoogle Scholar
Boone, C., Lokshin, B., Guenter, H., & Belderbos, R. 2019. Top management team nationality diversity, corporate entrepreneurship, and innovation in multinational firms. Strategic Management Journal, 40(2): 277–302.10.1002/smj.2976CrossRefGoogle Scholar
Bourgeois, L. J. III 1985. Strategic goals, perceived uncertainty, and economic performance in volatile environments. Academy of Management Journal, 28(3): 548–573.10.2307/256113CrossRefGoogle Scholar
Boyer, E. J. 2018. How does public participation affect perceptions of public–private partnerships? A citizens’ view on push, pull, and network approaches in PPPs. Public Management Review, 21(10): 1464–1485.10.1080/14719037.2018.1559343CrossRefGoogle Scholar
Boyer, E. J., Van Slyke, D. M., & Rogers, J. D. 2015. An empirical examination of public involvement in public-private partnerships: Qualifying the benefits of public involvement in PPPs. Journal of Public Administration Research and Theory, 26(1): 45–61.Google Scholar
Brown, J. R., & Martinsson, G. 2019. Does transparency stifle or facilitate innovation? Management Science, 65(4): 1600–1623.10.1287/mnsc.2017.3002CrossRefGoogle Scholar
Cacioppe, R., & Mock, P. 1984. A comparison of the quality of work experience in government and private organizations. Human Relations, 37(1): 923–940.10.1177/001872678403701104CrossRefGoogle Scholar
Cameron, A. C., & Trivedi, P. K. 1986. Econometric models based on count data. Comparisons and applications of some estimators and tests. Journal of Applied Econometrics, 1(1): 29–53.10.1002/jae.3950010104CrossRefGoogle Scholar
Carroll, C. E., & Deephouse, D. 2014. The foundations of a theory explaining organizational news: The VT4 framework of organizational news content and five levels of content production. In Pallas, J., Strannegård, L., & Jonsson, S. (Eds.), Organizing in New Media Landscape: 81–95. New York: Routledge.Google Scholar
Chang, S.‐J., & Wu, B. 2014. Institutional barriers and industry dynamics. Strategic Management Journal, 35(8): 1103–1123.10.1002/smj.2152CrossRefGoogle Scholar
Chen, C. C., Chen, X.-P., & Huang, S. 2015. Chinese guanxi: An integrative review and new directions for future research. Management and Organization Review, 9(1): 167–207.10.1111/more.12010CrossRefGoogle Scholar
Chen, H. L. 2013. CEO tenure and R&D investment: The moderating effect of board capital. The Journal of Applied Behavioral Science, 49(4): 437–459.10.1177/0021886313485129CrossRefGoogle Scholar
Coff, R. W. 1999. When competitive advantage doesn't lead to performance: The resource-based view and stakeholder bargaining power. Organization Science, 10(2): 119–133.10.1287/orsc.10.2.119CrossRefGoogle Scholar
Cooper, R. B., & Wolfe, R. A. 2005. Information processing model of information technology adaptation: An intra-organizational diffusion perspective. ACM SIGMIS Database: The DATABASE for Advances in Information Systems, 36(1): 30–48.10.1145/1047070.1047074CrossRefGoogle Scholar
Crossland, C., Zyung, J., Hiller, N. J., & Hambrick, D. C. 2014. CEO career variety: Effects on firm-level strategic and social novelty. Academy of Management Journal, 57(3): 652–674.10.5465/amj.2012.0469CrossRefGoogle Scholar
Dacin, M. T., Oliver, C., & Roy, J. P. 2007. The legitimacy of strategic alliances: An institutional perspective. Strategic Management Journal, 28(2): 169–187.10.1002/smj.577CrossRefGoogle Scholar
Daft, R. L., & Weick, K. E. 1984. Toward a model of organizations as interpretation systems. Academy of Management Review, 9(2): 284–295.10.2307/258441CrossRefGoogle Scholar
Das, T. K., & Teng, B.-S. 1999. Managing risks in strategic alliances. Academy of Management Perspectives, 13(4): 50–62.10.5465/ame.1999.2570554CrossRefGoogle Scholar
Dixit, A. 2002. Incentives and organizations in the public sector: An interpretative review. Journal of Human Resources, 37(4): 696–727.10.2307/3069614CrossRefGoogle Scholar
Dorobantu, S., Henisz, W. J., & Nartey, L. J. 2024. Firm–stakeholder dialogue and the media: The evolution of stakeholder evaluations in different informational environments. Academy of Management Journal, 67(1): 92–125.10.5465/amj.2021.0103CrossRefGoogle Scholar
Dutton, J. E. 1993. Interpretations on automatic: A different view of strategic issue diagnosis. Journal of Management Studies, 30(3): 339–357.10.1111/j.1467-6486.1993.tb00308.xCrossRefGoogle Scholar
Enikolopov, R., & Petrova, M. 2015. Chapter 17 - Media capture: Empirical evidence. In Anderson, S. P., Waldfogel, J., & Strömberg, D. (Eds.), Handbook of media economics, vol. 1: 687–700. North-Holland: Nikki Levy.Google Scholar
Essence Securities, . 2015. Available from URL: https://www.cpppc.org/PPPsj/992851.jhtmlGoogle Scholar
Fan, J. P., Wong, T. J., & Zhang, T. 2007. Politically connected CEOs, corporate governance, and Post-IPO performance of China's newly partially privatized firms. Journal of Financial Economics, 84(2): 330–357.10.1016/j.jfineco.2006.03.008CrossRefGoogle Scholar
Fosfuri, A. 2006. The licensing dilemma: Understanding the determinants of the rate of technology licensing. Strategic Management Journal, 27(12): 1141–1158.10.1002/smj.562CrossRefGoogle Scholar
Funk, R. J. 2014. Making the most of where you are: Geography, networks, and innovation in organizations. Academy of Management Journal, 57(1): 193–222.10.5465/amj.2012.0585CrossRefGoogle Scholar
Girth, A. M. 2012. A closer look at contract accountability: Exploring the determinants of sanctions for unsatisfactory contract performance. Journal of Public Administration Research and Theory, 24(2): 317–348.10.1093/jopart/mus033CrossRefGoogle Scholar
Girth, A. M. 2014. What drives the partnership decision? Examining structural factors influencing public-private partnerships for municipal wireless broadband. International Public Management Journal, 17(3): 344–364.10.1080/10967494.2014.935240CrossRefGoogle Scholar
Glazer, R., Steckel, J. H., & Winer, R. S. 1992. Locally rational decision making: The distracting effect of information on managerial performance. Management Science, 38(2): 212–226.10.1287/mnsc.38.2.212CrossRefGoogle Scholar
Goldman, E., Rocholl, J., & So, J. 2009. Do politically connected boards affect firm value? Review of Financial Studies, 22(6): 2331–2360.10.1093/rfs/hhn088CrossRefGoogle Scholar
Graf-Vlachy, L., Oliver, A. G., Banfield, R., König, A., & Bundy, J. 2020. Media coverage of firms: Background, integration, and directions for future research. Journal of Management, 46(1): 36–69.10.1177/0149206319864155CrossRefGoogle Scholar
Greene, R. L. 2000. The MMPI-2: An interpretive manual. Boston: Allyn & Bacon.Google Scholar
Hambrick, D. C., & Mason, P. A. 1984. Upper echelons: The organization as a reflection of its top managers. Academy of Management Review, 9(2): 193–206.10.2307/258434CrossRefGoogle Scholar
Hart, O. 2003. Incomplete contracts and public ownership: Remarks, and an application to public-private partnerships. The Economic Journal, 113(486): C69–C76.10.1111/1468-0297.00119CrossRefGoogle Scholar
Hausman, J., Hall, B., & Griliches, Z. 1984. Econometric models for count data with an application to the patents-R&D relationship. NBER Working Paper No.0017. https://www.nber.org/papers/t0017Google Scholar
Herrmann, P., & Datta, D. K. 2006. CEO experiences: Effects on the choice of FDI entry mode. Journal of Management Studies, 43(4): 755–778.10.1111/j.1467-6486.2006.00610.xCrossRefGoogle Scholar
Hillman, A. J. 2005. Politicians on the board of directors: Do connections affect the bottom line? Journal of Management Studies, 31(3): 464–481.Google Scholar
Hillman, A. J., & Hitt, M. A. 1999. Corporate political strategy formulation: A model of approach, participation, and strategy decisions. Academy of Management Review, 24(4): 825–842.10.2307/259357CrossRefGoogle Scholar
Huber, G. P. 1991. Organizational learning: The contributing processes and the literatures. Organization Science, 2(1): 88–115.10.1287/orsc.2.1.88CrossRefGoogle Scholar
Independent Evaluation Group, . 2015. World Bank Group Support to Public-Private Partnerships: Lessons from Experience in Client Countries, FY02–12. Washington, DC: The World Bank.Google Scholar
Jia, K. 2015. https://www.cpppc.org/PPPsj/992793.jhtmlGoogle Scholar
Keers, B. B. M., & van Fenema, P. C. 2018. Managing risks in public-private partnership formation projects. International Journal of Project Management, 36(6): 861–875.10.1016/j.ijproman.2018.05.001CrossRefGoogle Scholar
King, G., Pan, J., & Roberts, M. E. 2013. How censorship in China allows government criticism but silences collective expression. American Political Science Review, 107(2): 326–343.10.1017/S0003055413000014CrossRefGoogle Scholar
Kivleniece, I., & Quelin, B. V. 2012. Creating and capturing value in public-private ties: A private actor's perspective. Academy of Management Review, 37(2): 272–299.10.5465/amr.2011.0004CrossRefGoogle Scholar
Klein, P. G., Mahoney, J. T., McGahan, A. M., & Pitelis, C. N. 2010. Toward a theory of public entrepreneurship. European Management Review, 7(1): 1–15.10.1057/emr.2010.1CrossRefGoogle Scholar
Kong, D., Tao, Y., Wang, S., & Chen, D. 2023. Unintended consequences of social insurance law on stock price crash risk: Quasi-natural experimental evidence from China. Emerging Markets Finance and Trade, 59(12): 3689–3714.10.1080/1540496X.2023.2229940CrossRefGoogle Scholar
Kuvaas, B. 2002. An exploration of two competing perspectives on informational contexts in top management strategic issue interpretation. Journal of Management Studies, 39(7): 977–1001.10.1111/1467-6486.00320CrossRefGoogle Scholar
Kwak, Y. H., Chih, Y., & Ibbs, C. W. 2009. Towards a comprehensive understanding of public private partnerships for infrastructure development. California Management Review, 51(2): 51–78.10.2307/41166480CrossRefGoogle Scholar
Lachman, R. 1985. Public and private sector differences: CEOs’ perceptions of their role environments. Academy of Management Journal, 28(3): 671–680.10.2307/256122CrossRefGoogle Scholar
Le, S., & Kroll, M. 2017. CEO international experience: Effects on strategic change and firm performance. Journal of International Business Studies, 48(5): 573–595.10.1057/s41267-017-0080-1CrossRefGoogle Scholar
Levitt, B., & March, J. G. 1988. Organizational learning. Annual Review of Sociology, 14(1): 319–338.10.1146/annurev.so.14.080188.001535CrossRefGoogle Scholar
Li, H., & Zhang, Y. 2007. The role of managers’ political networking and functional experience in new venture performance: Evidence from China's transition economy. Strategic Management Journal, 28(8): 791–804.10.1002/smj.605CrossRefGoogle Scholar
Li, J. T., & Tang, Y. 2010. Ceo hubris and firm risk taking in China: The moderating role of managerial discretion. Academy of Management Journal, 53(1): 45–68.10.5465/amj.2010.48036912CrossRefGoogle Scholar
Li, J. Y., Li, M. X., Wang, X. C., & Thatcher, J. B. 2021. Strategic directions for AI: The role of CIOs and boards of directors. MIS Quarterly, 45(3): 1603–1644. https://doi.org/10.25300/MISQCrossRefGoogle Scholar
Liu, X., & Atinc, G. 2020. CEO selection, reference setting, and postsuccession strategic change. Management Decision, 59(2): 258–284.10.1108/MD-11-2018-1299CrossRefGoogle Scholar
Lu, J. G., Quoidbach, J., Gino, F., Chakroff, A., Maddux, W. W., & Galinsky, A. D. 2017. The dark side of going abroad: How broad foreign experiences increase immoral behavior. Journal of Personality and Social Psychology, 112(1): 1–16.10.1037/pspa0000068CrossRefGoogle ScholarPubMed
Luo, J., & Kaul, A. 2018. Private action in public interest: The comparative governance of social issues. Strategic Management Journal, 40(4): 476–502.10.1002/smj.2961CrossRefGoogle Scholar
Mahoney, J. T., McGahan, A. M., & Pitelis, C. N. 2009. Perspective—The interdependence of private and public interests. Organization Science, 20(6): 1034–1052.10.1287/orsc.1090.0472CrossRefGoogle Scholar
Margolis, J. D., & Walsh, J. P. 2003. Misery loves companies Rethinking social initiatives by business. Administrative Science Quarterly, 48(2): 268–305.10.2307/3556659CrossRefGoogle Scholar
Miner, A. S., & Haunschild, P. R. 1995. Population-level learning. Research In Organizational Behavior: An Annual Series of Analytical Essays and Critical Reviews, 17: 115–166.Google Scholar
Naumovska, I., Gaba, V., & Greve, H. R. 2021. The diffusion of differences: A review and reorientation of 20 years of diffusion research. Academy of Management Annals, 15(2): 377–405.10.5465/annals.2019.0102CrossRefGoogle Scholar
Nee, V. 1992. Organizational dynamics of market transition: Hybrid forms, property rights, and mixed economy in China. Administrative Science Quarterly, 37(1): 1–27.10.2307/2393531CrossRefGoogle Scholar
Newell, A., & Simon, H. 1956. The logic theory machine–A complex information processing system. IRE Transactions on Information Theory, 2(3): 61–79.10.1109/TIT.1956.1056797CrossRefGoogle Scholar
Noble, G., & Jones, R. 2006. The role of boundary-spanning managers in the establishment of public-private partnerships. Public Administration, 84(4): 891–917.10.1111/j.1467-9299.2006.00617.xCrossRefGoogle Scholar
North, D. C. 1990. A transaction cost theory of politics. Journal of Theoretical Politics, 2(4): 355–367.10.1177/0951692890002004001CrossRefGoogle Scholar
Otairu, A., Umar, A. A., Zawawi, N. A. W. A., Sodangi, M., & Hammad, D. B. 2014. Slow adoption of PPPs in developing countries: Survey of nigerian construction professionals. Procedia Engineering, 77: 188–195.10.1016/j.proeng.2014.07.014CrossRefGoogle Scholar
Pache, A. C., & Santos, F. 2013. Inside the hybrid organization: Selective coupling as a response to competing institutional logics. Academy of Management Journal, 56(4): 972–1001.10.5465/amj.2011.0405CrossRefGoogle Scholar
Peng, M. W., & Luo, Y. 2000. Managerial ties and firm performance in a transition economy: The nature of a micro-macro link. Academy of Management Journal, 43(3): 486–501.10.2307/1556406CrossRefGoogle Scholar
Peng, M. W., Lee, S. H., & Wang, D. Y. 2005. What determines the scope of the firm over time? A focus on institutional relatedness. Academy of Management Review, 30(3): 622–644.10.5465/amr.2005.17293731CrossRefGoogle Scholar
Qian, C., Wang, H., Geng, X., & Yu, Y. 2017. Rent appropriation of knowledge‐based assets and firm performance when institutions are weak: A study of Chinese publicly listed firms. Strategic Management Journal, 38(4): 892–911.10.1002/smj.2522CrossRefGoogle Scholar
Quélin, B. V., Kivleniece, I., & Lazzarini, S. 2017. Public-private collaboration, hybridity and social value: Towards new theoretical perspectives. Journal of Management Studies, 54(6): 763–792.10.1111/joms.12274CrossRefGoogle Scholar
Quélin, B. V., Cabral, S., Lazzarini, S., & Kivleniece, I. 2019. The private scope in public–private collaborations: An institutional and capability-based perspective. Organization Science, 30(4): 831–846.10.1287/orsc.2018.1251CrossRefGoogle Scholar
Rodenbach, M., & Brettel, M. 2012. CEO experience as micro-level origin of dynamic capabilities. Management Decision, 50(4): 611–634.10.1108/00251741211220174CrossRefGoogle Scholar
Roehrich, J. K., Lewis, M. A., & George, G. 2014. Are public-private partnerships a healthy option? A systematic literature review. Social Science & Medicine, 113: 110–119.10.1016/j.socscimed.2014.03.037CrossRefGoogle ScholarPubMed
Saad, C. S., Damian, R. I., Benet-Martinez, V., Moons, W. G., & Robins, R. W. 2013. Multiculturalism and creativity: Effects of cultural context, bicultural identity, and ideational fluency. Social Psychological and Personality Science, 4(3): 369–375.10.1177/1948550612456560CrossRefGoogle Scholar
Shleifer, A. 1998. State versus private ownership. Journal of Economic Perspectives, 12(4): 133–150.10.1257/jep.12.4.133CrossRefGoogle Scholar
Simon, H. A. 1955. A behavioral model of rational choice. The Quarterly Journal of Economics, 69(1): 99–118.10.2307/1884852CrossRefGoogle Scholar
Slater, D. J., & Dixon-Fowler, H. R. 2009. CEO international assignment experience and corporate social performance. Journal of Business Ethics, 89(3): 473–489.10.1007/s10551-008-0011-yCrossRefGoogle Scholar
Smith, M., & White, M. C. 1987. Strategy, CEO specialization, and succession. Administrative Science Quarterly, 32(2): 263–280.10.2307/2393129CrossRefGoogle Scholar
Soomro, M. A., & Zhang, X. 2015. Roles of private-sector partners in transportation public-private partnership failures. Journal of Management in Engineering, 31(4). https://doi.org/10.1061/(ASCE)ME.1943-5479.0000263CrossRefGoogle Scholar
Stiglitz, J. E. 2000. The contributions of the economics of information to twentieth century economics. The Quarterly Journal of Economics, 115(4): 1441–1478.10.1162/003355300555015CrossRefGoogle Scholar
Tan, J., & Zhao, J. Z. 2019. The rise of public–private partnerships in China: An effective financing approach for infrastructure investment? Public Administration Review, 79(4): 514–518.10.1111/puar.13046CrossRefGoogle Scholar
Tan, J., & Zhao, J. Z. 2021. Explaining the adoption rate of public-private partnerships in Chinese provinces: A transaction cost perspective. Public Management Review, 23(4): 590–609.10.1080/14719037.2019.1699947CrossRefGoogle Scholar
Tang, Y., Qian, C., Chen, G., & Shen, R. 2015. How CEO hubris affects corporate social (ir)responsibility. Strategic Management Journal, 36(9): 1338–1357.10.1002/smj.2286CrossRefGoogle Scholar
Thomas, J. B., & McDaniel, R. R. Jr 1990. Interpreting strategic issues: Effects of strategy and the information-processing structure of top management teams. Academy of Management journal, 33(2): 286–306.10.2307/256326CrossRefGoogle Scholar
Tihanyi, L., Aguilera, R. V., Heugens, P., van Essen, M., Sauerwald, S., Duran, P., & Turturea, R. 2019. State ownership and political connections. Journal of Management in Engineering, 45(6): 2293–2321.Google Scholar
van Knippenberg, D., Dahlander, L., Haas, M. R., & George, G. 2015. Information, attention, and decision making. Academy of Management Journal, 58(3): 649–657.10.5465/amj.2015.4003CrossRefGoogle Scholar
Wang, G., Holmes, R. M., Oh, I.-S., & Zhu, W. 2016. Do CEOs matter to firm strategic actions and firm performance? A meta-analytic investigation based on upper echelons theory. Personnel Psychology, 69(4): 775–862.10.1111/peps.12140CrossRefGoogle Scholar
Wang, H., & Qian, C. 2011. Corporate philanthropy and corporate financial performance: The roles of stakeholder response and political access. Academy of Management Journal, 54(6): 1159–1181.10.5465/amj.2009.0548CrossRefGoogle Scholar
Wang, H., Xiong, W., Wu, G., & Zhu, D. 2017. Public–private partnership in public administration discipline: A literature review. Public Management Review, 20(2): 293–316.10.1080/14719037.2017.1313445CrossRefGoogle Scholar
Wang, X. L., Fan, G., & Yu, J. W. 2017. Marketization index of China’s provinces: Neri report 2016. Beijing: Social Science Academic Press (China).Google Scholar
Williams, P. 2002. The competent boundary spanner. Public Administration, 80(1): 103–124.10.1111/1467-9299.00296CrossRefGoogle Scholar
Williamson, O. E. 1999. Public and private bureaucracies: A transaction cost economics perspectives. The Journal of Law, Economics, and Organization, 15(1): 306–342.10.1093/jleo/15.1.306CrossRefGoogle Scholar
Wood, R., & Bandura, A. 1989. Social cognitive theory of organizational management. Academy of Management Review, 14(3): 361–384.10.2307/258173CrossRefGoogle Scholar
Wu, S., Levitas, E., & Priem, R. L. 2005. CEO tenure and company invention under differing levels of technological dynamism. Academy of Management Journal, 48(5): 859–873.10.5465/amj.2005.18803927CrossRefGoogle Scholar
Xin, K. K., & Pearce, J. L. 1996. Guanxi: Connections as substitutes for formal institutional support. Academy of Management Journal, 39(9): 1641–1658.10.2307/257072CrossRefGoogle Scholar
Xu, D., Lu, J. W., & Gu, Q. 2014. Organizational forms and multi-population dynamics. Administrative Science Quarterly, 59(3): 517–547.10.1177/0001839214541866CrossRefGoogle Scholar
Yue, L. Q., & Wang, J. 2023. Policy learning in nascent industries’ venue shifting: A study of the U.S. small unmanned aircraft systems (UAS) industry. Business & Society, 63(5). https://doi.org/10.1177/00076503231182666Google Scholar
Zhang, J., & Keh, H. T. 2015. Interorganizational exchanges in China: Organizational forms and governance mechanisms. Management and Organization Review, 6(1): 123–147.10.1111/j.1740-8784.2009.00148.xCrossRefGoogle Scholar
Zhang, J., Marquis, C., & Qiao, K. 2016. Do political connections buffer firms from or bind firms to the government? A study of corporate charitable donations of Chinese firms. Organization Science, 27(5): 1307–1324.10.1287/orsc.2016.1084CrossRefGoogle Scholar
Zhang, Y. 2015. The formation of public-private partnerships in China: An institutional perspective. Journal of Public Policy, 35(2): 329–354.10.1017/S0143814X15000185CrossRefGoogle Scholar
Zhang, Y., & Rajagopalan, N. 2010. Once an outsider, always an outsider? CEO origin, strategic change, and firm performance. Strategic Management Journal, 31(3): 334–346.10.1002/smj.812CrossRefGoogle Scholar
Zhao, Z. J., Su, G., & Li, D. 2018. The rise of public-private partnerships in China. Journal of Chinese Governance, 3(2): 158–176.10.1080/23812346.2018.1457297CrossRefGoogle Scholar