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Dehybridization in the Face of the Party-State: A Longitudinal Case Study of a Chinese SOE's Corporate Governance Responses to Institutional Change

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Abstract

This longitudinal case study identifies corporate governance responses in a Chinese state-owned enterprise facing institutional logic multiplicity and demands to shoulder sociopolitical responsibilities beyond economic responsibility. We find that overseas listing led to the incorporation of market logic into an enterprise in which party-state logic prevailed. The prioritization of sociopolitical responsibilities vis-à-vis economic responsibility has shifted through three phases, reflecting changes in institutional logic centrality amid changing politico-institutional and firm conditions. In response, the enterprise developed hybrid corporate governance structures based first on decoupling (2001–2011) and then on translation of a “foreign” corporate governance model to fit the domestic context (2012–2016) but has since sought to dehybridize by strengthening the state-controlled governance structure (2017–2019). Our study contributes to the varieties-of-capitalism approach to corporate governance and offers perspectives on institutional change, institutional logic, and hybrid organizing as well as the implicit ethical issue.

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Acknowledgements

The authors thank Christina Ahmadjian, Ruth Aguilera, Andrew Chan, Gary Hamilton, Jennifer Howard-Grenville, Shige Makino, Henry Yeung and participants of the Journal of Management Studies Workshop, Beijing (2016), and of the Strategic Management Society Special Conference, Oslo (2018) for their insightful comments on earlier drafts; Xiwen Bai, Anica Liu, Yong Hwa Tan, Chih-Siong Yeo, Ting-fei Xia, Yihua Zhang for their research assistance. Specifically, the authors thank the editor and the two reviewers for having much invested time and expertise in helping them strengthen the manuscript. The research described herein is supported by research grants from Nanyang Business School, Nanyang Technological University, Singapore (Ministry of Education Grant M4011413), National Nature Science Foundation of China (71421061, 71702131), and Xiamen University Malaysia Research Fund (XMUMRF/2019-C3/ISEM/0018).

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  1. JunJie Yang and Lai Si Tsui-Auch have made equal contributions to the manuscript.

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  1. School of Economics and Management, Xiamen University Malaysia, Jalan Sunsuria, Bandar Sunsuria, 43900, Sepang, Malaysia

    Jun Jie Yang

  2. Nanyang Business School, Nanyang Technological University, Singapore, 50 Nanyang Avenue, Singapore, 639798, Singapore

    Lai Si Tsui-Auch

  3. School of Economics and Management, Tsinghua University, 30 Shuangqing Rd, Beijing, 100084, People’s Republic of China

    Xueli Wang

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Yang, J.J., Tsui-Auch, L.S. & Wang, X. Dehybridization in the Face of the Party-State: A Longitudinal Case Study of a Chinese SOE's Corporate Governance Responses to Institutional Change. J Bus Ethics 182, 661–678 (2023). https://doi.org/10.1007/s10551-021-04879-0

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