Varieties of capitalism and the internationalization of state-owned enterprises

• 成果类型: Article
• 署名作者: Mariotti, Sergio; Marzano, Riccardo
• 署名单位: Polytechnic University of Milan; Sapienza University Rome
• 刊物名称: JOURNAL OF INTERNATIONAL BUSINESS STUDIES
• ISSN/ISSBN: 0047-2506
• DOI: 10.1057/s41267-018-00208-2
• 发表日期: 2019
• 页码: 669-691
• 关键词: business/government interaction and relations; INTERNATIONALIZATION; State-owned enterprises; varieties of capitalism; INSTITUTIONAL THEORY; Multiple regression analysis

摘要

This article sheds light on how the internationalization of state-owned enterprises is influenced by the state involvement in ownership and by the home country's institutional settings. Integrating international business literature with the debate on the varieties of capitalism, we contend that state-dominated enterprises internationalize more (less) than privately owned enterprises in coordinated (liberal) market economies, whereas they exhibit an inconstant behavior in state-influenced market economies. Our analysis on a sample of enterprises pertaining to 20 OECD countries supports our hypotheses. This article adds to studies on the influence of institutions on firms' internationalization and has implications for both managers and policymakers.