Abstract:The construct of guanxi has become an interesting topic for analyzing how to do business more effectively and successfully in China's economic transition period. Drawing on the guanxi strategy theory, this study examines when government guanxi (guanxi with the government and its officials) and business guanxi (guanxi with the business sectors) matter to new venture performance under two typical turbulent environments (institutional turbulence and market turbulence). According to empirical results using original data from 146 new ventures in clusters driven by China's local governments, both government guanxi and business guanxi were positively related to new venture performance, and market turbulence was an important contextual factor influencing performance benefits of guanxi. However, the results reveal no moderating effects of institutional turbulence on direct relationships. Furthermore, the study provides a better conceptual and empirical understanding of why market turbulence is a double-edged sword for performance implications of guanxi in the rapidly changing business environment.

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This study aims to explore the technical characteristics that affect user satisfaction with air-source heat pump technology which is recognized as one typical cleaner residential heating system and being promoted in China in response to the national "coal to electricity" policy. Moderated hierarchical linear regression analysis was conducted to analyze data from a questionnaire survey of 256 residents in suburban Beijing. Empirical results indicated that product convenience, product design, product reliability, product knowledge, and total cost, respectively, affect user satisfaction, but product safety has no significant effect on user satisfaction. Meanwhile, total cost is an important contingent factor that might weaken the positive effects of product convenience (or product design) on user satisfaction. Our research provides empirical evidence for identifying factors that influence user satisfaction with cleaner residential heating system in response to new energy policy and further provides useful managerial implications for market practice.