The autocratic advantage: Internationalization of state-owned multinationals

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 a...

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Bibliographic Details
Published in:Journal of world business : JWB 2018-11, Vol.53 (5), p.668-681
Main Authors: Clegg, L. Jeremy, Voss, Hinrich, Tardios, Janja A.
Format: Article
Language:English
Subjects:
Emerging economies’ OFDI
Home political regime
Mergers & acquisitions
State-owned multinationals
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Summary: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.
ISSN:1090-9516
DOI:10.1016/j.jwb.2018.03.009