World Scientific Publishing Company Guanxi And Business (Third Edition): 3rd Edition: 10 (Asia-pacific Business Series)

Interpersonal relationship (guanxi) is one of the major dynamics of Chinese society. Guanxi has been a pervasive part of the Chinese business world for the last few centuries. It binds literally millions of Chinese firms into a social and business web. In China's new, fast-paced business environment, guanxi has become more entrenched than ever, heavily influencing Chinese political landscapes, social behavior, and business practice.This book delineates social and cultural principles and philosophies underlying guanxi dynamics, along with guanxi's social norms that have been long embedded in the Chinese society. Although guanxi is embedded in almost every part of social life in China, companies demonstrate different needs and capacity toward guanxi cultivation. Chinese firms develop guanxi as a strategic mechanism to overcome competitive and resource disadvantages by cooperating and exchanging favors with government authorities and other stakeholders. This book presents an integrative framework about guanxi development according to institutional, strategic, and organizational factors. It further articulates how foreign firms adaptively develop their own legitimate and effective guanxi in China's highly dynamic and complex environment.Guanxi is really dynamic that its practices have been constantly changing and its normative and cognitive legitimacy is shifting as the social and economic structures in the society are drastically transforming. For this reason, this third edition of the book has added numerous new and emergent issues such as moral degradation and guanxi, qualitative and quantitative review of guanxi studies, and guanxi ties between organizations. About the Author Dr Yadong Luo is the Emery M Findley Distinguished Chair and Professor of Management at University of Miami. He is an elected fellow of both Academy of International Business (AIB) and Academy of Management (AOM).Professor Luo has emerged as the world's top research scholar in international management since the mid-1990s. He has published over 160 articles in major refereed journals in international business, management and strategy. He also authored more than a dozen books. His research interests include global corporate strategy, global corporate governance, global competition and cooperation, and business in emerging economies, among others. Professor Luo's research record includes seminal pieces on important and timely topics, such as global co-opetition, business-government relationships, cross-cultural cooperative strategies, multinational enterprises in emerging markets, and international expansion of emerging market enterprises. His writing on the recent development of business and management in emerging markets, notably China, is particularly path-breaking and offers a wealth of understanding of this critical context and business activities that are unfolding there.Dr Luo was ranked the world's No.1 top scholar in international business by Management International Review in 2014, most productive author in leading IB journals by International Business Review in 2010 and by Management International Review in 2012, and the world's most prolific and cited author on Chinese Management (2000–2006) by Asia Pacific Journal of Management in 2007.Professor Luo received his PhD from Temple University. Prior to coming to US in the early 90s, he was a provincial official in charge of international business in China. He is the recipient of dozens of research and teaching awards, including the UM Faculty Senate Distinguished Scholar Award in 2009 (first ever by UM business school faculty). Dr Luo also serves on the Global Advisory Board of Sun Yat-Sen University (Guangzhou, China) and on the International Advisory Board of Fudan University's School of Management (Shanghai, China). He is the recipient of AOM Outstanding Educator Award and JIBS 50th Anniversary Scholarly Contribution Gold Medal Award.