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The Strathprints institutional repository is a digital archive of University of Strathclyde research outputs. Strathprints provides access to thousands of Open Access research papers by University of Strathclyde researchers, including those from the School of Psychological Sciences & Health - but also papers by researchers based within the Faculties of Science, Engineering, Humanities & Social Sciences, and from the Strathclyde Business School.

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Guanxi in risk taking and uncertain business conditions: a universal practice? an exploratory study

Paliwoda, S.J. and Luk, P. and Chua, C. (2006) Guanxi in risk taking and uncertain business conditions: a universal practice? an exploratory study. In: Academy of International Business Annual Conference, 2006-06-23 - 2006-06-26.

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Abstract

The increasing acceptance of guanxi as a way to reduce uncertainty and risk in business dealings is explored. Guanxi, commonly practiced in China, is a form of social network of personal connections. Moreover, this paper suggests that guanxi has become a universal practice. It is not only a preferred way of doing business in China, but also in markets and conditions where certainty and legal transparency are still in dire need.