Varieties of capitalism and the internationalization of state-owned enterprises

Sergio Mariotti and Riccardo Marzano ()
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Riccardo Marzano: DIAG - Sapienza Università di Roma

Journal of International Business Studies, 2019, vol. 50, issue 5, No 1, 669-691

Abstract: Abstract 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.

Keywords: business/government interaction and relations; internationalization; state-owned enterprises; varieties of capitalism; institutional theory; multiple regression analysis (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (47)

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DOI: 10.1057/s41267-018-00208-2

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