“…Both forms of ties have been documented to impact firm performance in emerging economies such as China (Li, Poppo, & Zhou, 2008;Peng & Luo, 2000), Ghana (Acquaah, 2007), Hungary (Danis, Chiaburu, & Lyles, 2010), Russia (Puffer & McCarthy, 2007), and South Korea (Kwon, 2011). Scholars argue that the more market-supporting institutions are developed, the less need managers may feel about devoting time and resources to cultivate managerial ties (Danis et al, 2010;Peng, 2003;Zhou, Poppo, & Yang, 2008).…”