嘉宾简介：

吴志岩，2015年于浙江大学澳门新葡平台网址8883网站获得博士学位，师从许庆瑞院士。目前是荷兰伊拉斯姆斯大学长聘副教授。研究聚焦于战略管理，擅长使用因果推断方法。研究成果发表在Academy of Management Journal、Journal of Management、Management Science、Organization Science。现任Management and Organization Review副主编，Journal of Business Venturing 和Journal of Management 编委会成员。曾获得美国管理学会战略管理分部优秀审稿人、伊拉斯姆斯大学战略与创业领域教学奖等荣誉。

讲座简介：

Using a regression discontinuity design in a sample of U.S. congressional special elections, we investigate how political connections established by one firm (networking firm) create ripple effects on its peers (peer firms) in the same product market, prompting them to appoint politicians to their boardroom. By analyzing special elections won or lost by a narrow margin, we find that when the networking firm had donated to a politician who narrowly won a special election, its peer firms’ director appointments in the following year are 43% more likely than peers of the networking firm that had supported a narrowly defeated candidate. The ripple effects are more pronounced among peer firms facing greater political risks and operating in industries with more intense competition for government sales. The ripple effects also lead peer firms to increase their product differentiation from networking firms. We interpret these patterns as evidence of a competitive dynamic mechanism, where peer firms perceive the networking firm’s political connections as a threat that could disadvantage them in the regulatory environment, prompting them to strengthen their boards with political capital to navigate potential regulatory changes and mitigate perceived risks. Our findings enrich scholarly understandings of political connections and director selections.