The autocratic advantage: Internationalization of state-owned multinationals

L. Jeremy Clegg, Hinrich Voss and Janja A. Tardios

Journal of World Business, 2018, vol. 53, issue 5, 668-681

Abstract: We offer a theoretical extension and empirical analysis of home country autocracy as a key determinant for the internationalization of state-owned enterprises (SOEs). Building on international business and international political economy theory, we argue that the pursuit of a mercantilist domestic agenda by autocratic governments is influential upon the magnitude and direction of state-owned multinational enterprises’ (SOMNC) outward investment via acquisition. We conclude that autocratic home countries are ‘re-purposing’ SOEs to pursue international nationalist objectives – and that autocracies can do so more effectively and purposefully than democracies, by maintaining effective control over their SOMNCs.

Keywords: Home political regime; State-owned multinationals; Emerging economies’ OFDI; Mergers & acquisitions (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (37)

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DOI: 10.1016/j.jwb.2018.03.009

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