在過去的二十多年裡，新興市場越來越受各界矚目新興市場的自由化、增長和全球化使得這些仍然新生的經濟體成為利益、機會和焦慮的源頭（Khanna & Palepu, 2010）。對於在跨國公司的領導者而言，新興市場將會是先進國家在經濟蕭條及金融危機中的增長動力，它同時也是跨國企業競爭對手的棲息地（Khanna & Palepu, 2010）。新興市場的一些負面因素將會導致投資者的投資風險提高，但這些挑戰並不會磨滅投資者前往新興市場投資的念頭，因為投資者認為回報將遠大於付出。在新興市場中，一個企業的績效與其政治環境有著緊密的關係。本研究將探討政治因素與企業績效之間的關係，從而提出政治影響力和非正式的政治聯繫將導致企業績效的增加。本文也探討正式的政治聯繫將不會直接影響企業績效，它對企業績效的影響是透過環境和政策的不確定性這個說法。因此本研究採用量化研究，發放問卷給予以新興市場國家之企業高層、經理、業務，共發放163份問卷，最後以145份有效問卷進行實證分析。本研究結果顯示，非正式的政治聯繫將會影響企業績效，且當法律強制執行力納入考量時會縮小企業規模。同時，本研究結果也顯示正式的政治聯盟將不會直接影響企業績效，且政治聯盟、環境不確定性和政策不確定性之間無任何交互效果。 Emerging market has become common over the past two decades. Liberalization, globalization and the growth of these still-nascent economies have created tremendous opportunity and sources of interest (Khanna & Palepu, 2010). For the executives of multinational companies, emerging markets are growth drivers in between financial crisis and stagnation in developed economies (Khanna & Palepu, 2010). Firms invest in emerging markets comes with challenges, but the rewards can be well worth the extra effort. This study examines the political influence and informal political ties lead to legal privileges, which in turn enhance market and financial performance. It also probe that the formal political alliance does not have direct effect on business performance. Its effect on business performance are contingent upon environmental and policy uncertainties. Specifically, the higher the level of environmental and policy uncertainties, the more beneficial political alliance is to market and financial performance. Therefore, quantitative research has been used in this study to do the analysis. 163 senior managers (e.g., CEO, vice president, senior marketing manager) from different firms agree to participate in this survey. This study obtains 145 complete responses in order to do the empirical analysis. Results show that informal political ties will affect business performance. When law enforceability was taken into account, political ties will reduce the scale of the company. The results also show that political alliance does not have direct effect on business performance. It does not have any interaction effects of political alliance and environmental uncertainties and that of political alliance and policy uncertainties.
