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Market Turbulence, Market Strategy and Nonmarket Strategy (NMS), and Firm Performance: Evidence from China
Keywords: turbulence, business strategy, nonmarket strategy, NMS, China
Abstract: This paper evaluates the impact of market turbulence on relationships between market and nonmarket strategic emphasis, and financial and non-financial performance among Chinese businesses. A survey of 246 middle and upper-level managers in Beijing identified market turbulence as a direct driver of performance, a positive moderator of the link between market strategy and financial performance, and a negative moderator of the link between market strategy and non-financial performance. Market turbulence did not moderate links between either market strategy and non-financial performance, or nonmarket strategy and performance.