Abstract: Abstract：Enterprise political strategy, as part of enterprises’ non-market strategies, has drawn increasing attention from researchers and scholars for more than ten years. This article reviews the research literature on enterprise political strategy from home and abroad in this period. It is found that the components, categories, and factors of enterprise political strategy have been extensively studied while the process and mechanism of the strategy formation and how the strategy affects enterprises’ performance have been little researched. This article believes that a single perspective is not sufficient to explain the relationship between enterprise political strategy and enterprises’ performance and the setup of their institutional environment. To resolve the argument about the relationship between the strategy and the value of enterprises, we need to introduce a co-evolutionary perspective to comprehensively and systematically understand the interaction between enterprise political strategy and the enterprises, their stakeholders, and the macro-environment. Finally, this article proposes a frame work of future corporate political strategy research: to use a procedural perspective to study the formation and mechanism of enterprise (especially new ventures) strategy; to analyze enterprise market strategy and political strategy in the same framework; and to use the co-evolutionary perspective to construct an interactive model for new ventures’ political strategy and institutional environment.

Key words: enterprise politics, political strategy, political connection;, co-evolution, enterprise performance, institutional environment