State Ownership Effect on Firms’ FDI Ownership Decisions Under Institutional Pressure: A Study of Chinese Outward-Investing Firms

Home country institutions and the internationalization of state owned enterprises: A cross-country analysis

“…Third, we are one of the first to investigate how national context moderates the effects of ownership on firm internationalization strategies. While earlier studies suggest that ownership directly influences internationalization (Tihanyi, et al, 2003;Cui & Jiang, 2012;Garcia-Canal & Guillén, 2008), our empirical results show how this impact is conditioned by the institutional environment.…”

“…This approach makes at least two important contributions. First, existing studies have predominantly utilized institutional theory to explain home country institutional context in single country studies, notably China (Buckley et al, 2007;Cui & Jiang, 2012;Li et al, 2014;Wang et al, 2012c) or India (Choudhury & Khanna, 2014). Our study extends this literature to study the influence of home country institutional context on firm internationalization in a comprehensive sample of 40 countries, spanning both developing and developed economies with a wide variety of institutional and political configurations.…”

“…2 Such firms are estimated to own around 20% of the world's stock market capitalization (Economist, 2010) and hence play a growing role in both domestic and global business. Recent scholarly interest has been stimulated by the surge of Chinese SOEs becoming major international players in some industries (Chen & Young, 2010;Cui & Jiang, 2012;Morck et al, 2008;Ramasamy et al, 2012;Wang et al, 2012b;c). However, listed SOEs are a much wider phenomenon: they are common in many emerging economies, and play important niche roles in several West European countries (Goldeng et al, 2008;Knutsen, Rygh & Hvem, 2011).…”

The Factors That Influence the Integration of Chinese Cross-Border MaA

“…This article also uses the binary variable dependent Legit model for robustness detection, and in order to eliminate the error impact of statistical bias, we will make the following adjustments to the variable parameters: 1) In studying the impact of the state-owned property, we used the previous method (Cui & Jiang, 2012) to replace the ownership of the cumulative state-owned shares of the top ten non-tradable shareholders.2) Although they belong to overseas M&As, the acquisition of the M&A target in Hong Kong or Taiwan may significantly increase the willingness of Chinese M&A parties to integrate. After identification, a total of 13 cases were mergers and acquisitions that occurred in Hong Kong or Taiwan.…”

Internationalization by State-owned Enterprises (SOEs) and Sovereign Wealth Funds (SWFs) after the 2008 Crisis. Looking for Generalizations

“…The first studies were conducted in the 1970 s [Mazzolini, 1979;Vernon, 1979]. The current literature research focus is on Chinese MNEs [Chen and Young, 2010;Cui and Jiang, 2012;Duanmu, 2014;Liang et al, 2014;Meyer et al, 2014;Morck et al, 2008;Pan et al, 2014;Ramasamy et al, 2012;Wang et al, 2012;Zhang et al, 2010]. Only a few papers highlight SOE internationalization issues in other national economies, such as Spain [Garcia-Canal and Guillen, 2008], Norway [Knutsen et al, 2011] or India [Choudhury and Khanna, 2014].…”