corporate performance. The research subjects are the private enterprises listed on Shanghai and Shenzhen Stock Exchange in China … diversification strategy, especially unrelated diversification. Third, when implementing an internationalization strategy, private … enterprises with political connections are more likely to expand through unrelated diversification strategy. Fourth, the …

differences on private enterprises' acquiring bank loans, and to analyze the governance effect of bank debts and its impact on … that: political connections influence lending policies of banks; the politically connected private enterprises could … acquire more loans from banks. In poorer institutional environment, political connections can help private enterprises to …