Emerging market state-owned multinationals: a review and implications for the state capitalism debate

Panibratov, Andrei; Klishevich, Daria

doi:10.1057/s41291-021-00150-6

Cited by 9 publications

(3 citation statements)

References 128 publications

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“…To the greatest extent, the indicated competitive advantages, apparently, manifested themselves in the activities of multinational companies (MNE) with state participation, which very quickly established themselves in foreign markets (Cuervo-Cazurra, 2018; Panibratov & Klishevich, 2021). In the recent period, the growth in the number of MNE in countries with emerging markets has been much higher than in Western countries (Casanova & Miroux, 2020).…”

Section: Source: Spss Software Outputmentioning

confidence: 99%

The Phenomenon of Hybrid State Capitalism in Emerging Market Economies: Present and Future

Martynov

2023

IJEF

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The actual and complex topic of the transformation of a number of countries with emerging markets directly connects with the phenomenon of the ongoing formation of a new type of state capitalism. This study contributes to an increasingly relevant research concerning the problem of new state capitalism in rela-tion to emerging market economies. Unlike referent previous pub-lications, the object of the study presents transformation not indi-vidual national economies, but their conglomerate characterized by the prevalence of the state-capitalist order. A retrospective of the transformation of the entire enclave of emerging market econ-omies in a large number of countries has briefly presented. On this ground, the process of the reproduction of economic systems, distinguished by a hybrid structure with a prevailing state-capitalist order, in a separate conglomerate of post-developing and after socialist countries has analyzed in the last period. The fol-lowing main hypothesis has been verified: the relatively low cost of productive capital, labor, and especially primary resources, which distinguished the economies of hybrid state capitalism, displays in the inertial growth of production capital and employment, associ-ated with an accelerated increase in output and profit. Based on the empirical available evaluations, with regard to the conglomer-ate of considered national economies the most significant funda-mental competitive advantage presents still the preservation of a relatively low cost of production factors. By the author's argu-mentation, a vision of the prospect for the transformation of such national economies has supposed. The final conclusion concerns the possibility of successful adaptation of these economic systems to the positive fundamental changes, especially including those associated with the transition to sustainable overall social devel-opment.

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Section: Source: Spss Software Outputmentioning

confidence: 99%

The Phenomenon of Hybrid State Capitalism in Emerging Market Economies: Present and Future

Martynov

2023

IJEF

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Section: Source: Spss Software Outputmentioning

confidence: 99%

The Phenomenon of Hybrid State Capitalism in Emerging Market Economies: Present and Future

Martynov

2022

emaj

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The article is devoted to the actual and complex topic of the transformation of a number of countries with emerging markets. A retrospective of the transformation of the entire enclave of emerging market economies in a large number of countries was briefly presented. On this ground, the process of the reproduction of economic systems, distinguished by a hybrid structure with a prevailing state-capitalist order, in a separate conglomerate of post-developing and after socialist countries was analyzed in the last period. Based on the empirical available evaluations, with regard to the conglomerate of considered national economies, the most significant fundamental competitive advantage is still the preservation of relatively low cost of production factors. By the author's argumentation, a vision of the prospect for the transformation of such national economies are presented. The final conclusion concerns the possibility of successful adaptation of these economic systems to the positive fundamental changes, especially including those associated with the transition to sustainable overall social development.

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“…On the other hand, Hu and Cui (2014) report no significant effect of state ownership on internationalization of Chinese firms. It may be that the role of SOMNEs in China's overseas industrial policy is becoming less important, as the private sector gradually develops, suggesting that it is also relevant to look at the stage of development of the SOMNE's home country (Panibratov & Klishevich, 2021).…”

Section: Degree Of Internationalizationmentioning

confidence: 99%

Governmental goals and the international strategies of state-owned multinational enterprises: a conceptual discussion

Rygh

Benito

2021

J Manag Gov

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State owned multinational enterprises (SOMNEs) have received extensive attention in recent research in international business and corporate governance, which demonstrates effects of state ownership on a range of international strategic decisions such as the degree of internationalization, foreign entry modes, and host country location choices. Such effects are explained by factors such as SOMNEs’ non-financial goals, corporate governance, and institutional pressures. However, results are mixed and context-dependent, and overall we still have an incomplete understanding of what governments aim to achieve through SOMNEs, and how these goals in turn lead to different international strategies. This conceptual article aims to explore how specific government goals may affect international strategies. We provide a more fine-grained view on SOMNE financial and non-financial goals and link them to key international strategic decisions such as the degree of internationalization, entry and establishment modes, and host country location choice. We review and extend previous literature and identify novel theoretical arguments, leading to an extensive set of propositions. We also sketch ideas for empirical studies of SOMNE objectives.

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Emerging market state-owned multinationals: a review and implications for the state capitalism debate

Cited by 9 publications

References 128 publications

The Phenomenon of Hybrid State Capitalism in Emerging Market Economies: Present and Future

The Phenomenon of Hybrid State Capitalism in Emerging Market Economies: Present and Future

The Phenomenon of Hybrid State Capitalism in Emerging Market Economies: Present and Future

Governmental goals and the international strategies of state-owned multinational enterprises: a conceptual discussion

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