ABSTRACT Clarifying the microscopic transmission mechanism of market‐oriented allocation policies of resources and environmental elements is extremely important for both governments and firms. This study focuses on key monitored firms in core resource sectors; annual reports from 320 companies were used as the research sample and the grounded theory method was employed to construct a theoretical framework of the impact of market‐oriented allocation policies of resources and environmental elements on corporate strategies. The findings indicated that these policies triggered three types of firms' strategies—compliance, adaptive, and proactive—across the two dimensions of the basic allocation and the optimized allocation of elements. The transmission path between policy and strategic choices was pressure perception; the impact of policies on corporate strategy was constrained by capabilities for environmental adaptation, such as resource slack and the embeddedness of environmental elements. The study provided a theoretical foundation for the comprehensive examination of the relationship between market‐oriented allocation policies of resources and environmental elements and corporate strategies, thereby enriching the diversity of research in this field and providing practical insights for improving the policy system of market‐oriented allocation of resources and environmental elements, as well as for strategic corporate decision making.
Liu et al. (Fri,) studied this question.
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