Bargaining Power and Market Turning of Export-Oriented Firms in the Context of Anti-Globalization

Abstract

Against the background of reverse globalization and the new development pattern, to address the market strategy choice problem of Chinese export-oriented enterprises, this paper takes the supply chain bargaining power as the entry point to construct a theoretical framework of corporate bargaining power and market steering. It argues that bargaining power leads to the dif-ferentiated market steering behavior of Chinese export-oriented enterprises. Based on the above logic, the analysis of empirical data from Chinese ex-portoriented firms from 2009 to 2020 reveals that: corporate bargaining power has a positive relationship with the market steering of export-oriented firms; the impact of bargaining power on the market steering of export-ori-ented firms is enhanced in both cases of a larger institutional distance ratio and non-state-owned firms. The findings of this paper enrich the research results on reverse internationalization of firms and are also instructive for the dual-cycle strategy currently being implemented by the Chinese gov-ernment.