中文摘要：

本文选择深圳证券交易所中小企业板151家上市企业为研究样本，基于资源依赖理论、公司治理理论和制度理论，深入探讨了政治资源与我国中小企业商业模式转型的关系，以及CEO权力和制度环境对这一关系的影响。研究结果表明，相对于无政治资源的企业，拥有政治资源的企业在商业模式转型决策上更为保守，它们倾向于选择程度更低的转型；CEO权力的大小对政治资源与企业商业模式转型之间的关系有显著的调节作用，即政治资源与商业模式转型之间的负相关关系在CEO权力较大的情况下要比在CEO权力较小的情况下更为明显；但是．制度环境对政治资源与企业商业模式转型之间的关系没有显著调节作用，这可能与本文偏重于正式制度及样本企业的区域分布有关，

英文摘要：

In the current competitive environment, the existed suc- cessful business models would be outdated quickly because they could be imitated by other firms and be replaced by a great number of new business models frequently. Therefore, incumbent firms had to transform their business models at the appropriate time to keep com- petitive advantage. By reviewing literature, some scholars considered resources as an important factor of the business model transforma- tion. And did political resource, a unique type of resources, influence the business model transformation？ The previous researches didn＇t give enough explanation. This article aimed to study the relationship between political resource and business model transformation. Based on the resource dependence theory, corporate governance theory and institutional theory, we examined how political resource could influence the degree of the business model transformation, and we attempted to reveal the moderating effects of the CEO power and in- stitutional environment on this relationship between political resource and business model transformation. We chose 151 small and medi- um-sized enterprise board listed on the Shenzhen Stock Exchange as research sample. We adopted the case survey method to collect data of the degree of business model transformation, and other variable values were obtained by coding the materials from the data bases and public resources. By using multiple linear regression method, we car- ried out the empirical study to test the hypotheses. Our conclusions were as follows. Compared the firms with no political resource, those firms with political resource would be more conservative in the de- cision-making of business model transformation, and they tended to choose a lower degree of business model transformation. CEO power played a significantly moderating role of the relationship between political resource and business model transformation. As CEO had greater power, the negative effect of political resource on business model transformation woul