Bureaucrats in International Business: A Review of Five Decades of Research on State-Owned MNEs

Rygh, Asmund

doi:10.1007/978-3-030-03931-8_3

Cited by 10 publications

(5 citation statements)

References 101 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…By bringing insights from one topic to the other, we outline the beginning of a unified theory of how governments use their foreign investments to achieve nonbusiness goals. This complements previous studies that separately analyzed sovereign wealth funds (Aguilera et al, 2016 ; Megginson & Fotak, 2015 ; Megginson & Gao, 2020 ) and state-owned multinationals (Cuervo-Cazurra et al, 2014 ; Rygh, 2019 ).…”

Section: Governments As Investorssupporting

confidence: 79%

A review of the internationalization of state-owned firms and sovereign wealth funds: Governments’ nonbusiness objectives and discreet power

2022

View full text Add to dashboard Cite

We review and bridge the literature on the internationalization of state-owned firms and sovereign wealth funds to provide a novel understanding of how government ownership affects foreign investments in three ways. First, we explain how state-owned firms and funds behave differently from private ones because they need to balance governments’ nonbusiness objectives and firms’ business goals. This results in competing predictions on whether government ownership helps or hinders internationalization due to particular nonbusiness objectives. Second, building on the review, we provide suggestions on how to extend research topics and theories of the firm by incorporating these nonbusiness objectives in the internationalization decisions in four areas: home government’s endowments, characteristics, and attitudes; host-country expansion’s support, influence, and impact; home- and host-country relationship conflicts, mediation, and disguising; and management’s orientation, opacity, and arbitrage. Third, we capture how governments may use state-owned multinationals and sovereign wealth funds to nudge host-country governments by introducing the concept of discreet power and the use of four strategies (recognition, values, development, and supremacy) to achieve it. This helps to outline the beginning of a unified approach to how governments use their foreign investments to achieve nonbusiness goals.

show abstract

Section: Governments As Investorssupporting

confidence: 79%

A review of the internationalization of state-owned firms and sovereign wealth funds: Governments’ nonbusiness objectives and discreet power

2022

View full text Add to dashboard Cite

show abstract

“…By bringing insights from one topic to the other, we outline the beginning of a unified theory of how governments use their foreign investments to achieve nonbusiness goals. This complements previous studies that separately analyzed sovereign wealth funds (Aguilera et al, 2016;Megginson & Gao, 2020) and state-owned multinationals (Cuervo-Cazurra et al, 2014;Rygh, 2019).…”

Section: Governments As Foreign Investorssupporting

confidence: 74%

A Review of the Internationalization of State-Owned Firms and Sovereign Wealth Funds: Governments Nonbusiness Objectives and Discreet Power

Cuervo-Cazurra,

Grosman,

Megginson

2021

SSRN Journal

View full text Add to dashboard Cite

“…We also know that government-created advantages can represent a prominent feature of Chinese multinationals (Ramamurti and Hillemann, 2018). The literature already questions whether EMNE internationalization motives differ depending on their ownership structure (Cuervo-Cazurra and Li, 2021), with debates on state-owned MNEs' varying strategic objectives and resources (Cuervo-Cazurra et al , 2014; Rygh, 2019). What remains unclear is the extent to which home institutions explain EMNEs' SAS M&As in developed countries.…”

Section: Future Research Directionsmentioning

confidence: 99%

Emerging multinationals' strategic asset-seeking M&As: a systematic review

Liang

Giroud

Rygh

2021

IJOEM

Self Cite

View full text Add to dashboard Cite

PurposeEmerging market multinational enterprises (EMNEs) have consolidated their global presence recently, challenging existing international business (IB) theories. One of their most significant characteristics has been the prevalence of strategic asset-seeking (SAS) mergers and acquisitions (M&As) targeting firms in developed countries. Such SAS M&As have been ascribed to the aim of acquiring or augmenting firm-specific advantages, rather than exploiting existing advantages. A literature review is needed to synthesize the growing number of academic studies and to contribute to ongoing theoretical developments on EMNEs' catch-up strategies.Design/methodology/approachThe authors follow a standard systematic literature review approach. The authors collate academic studies on EMNEs' SAS M&As in developed markets published between 2000 and mid-2020, structuring the analysis using the logic of antecedent, process and performance outcomes.FindingsThe authors present recent research trends in terms of year, journal, theories and methods. The authors synthesize and analyze existing knowledge on EMNEs' SAS M&As and identify remaining gaps to suggest future research directions.Originality/valueThe review contributes by focusing on the key argument of current EMNE research – SAS M&As. By providing the first focused review on this topic, it provides a basis for further research on EMNEs' SAS M&As.

show abstract

Bureaucrats in International Business: A Review of Five Decades of Research on State-Owned MNEs

Cited by 10 publications

References 101 publications

A review of the internationalization of state-owned firms and sovereign wealth funds: Governments’ nonbusiness objectives and discreet power

A review of the internationalization of state-owned firms and sovereign wealth funds: Governments’ nonbusiness objectives and discreet power

A Review of the Internationalization of State-Owned Firms and Sovereign Wealth Funds: Governments Nonbusiness Objectives and Discreet Power

Emerging multinationals' strategic asset-seeking M&As: a systematic review

Contact Info

Product

Resources

About