The International Activities and Impacts of State-Owned Enterprises

Shapiro, Daniel; Globerman, Steven; Adamson, Robert Damian; McFetridge, Don; Maule, Chris; Sauvant, Karl P.

doi:10.1093/acprof:osobl/9780199937929.003.0005

Cited by 31 publications

(19 citation statements)

References 59 publications

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“…Notwithstanding the earlier expansions across borders by SOEs in the oil industry, SOMNCs emerged as an important and little understood force in the global economy, leading to a renewed interest in these firms, both in the popular press (The Economist, 2012) and in academic analyses (Buckley et al, 2007;Cui & Jiang, 2012;Gerard, 2007;Knutsen et al, 2011;Musacchio & Lazzarini, 2014;Shapiro & Globerman, 2012).…”

Section: Ideologies and Political Strategiesmentioning

confidence: 99%

“…Despite the global expansion of SOMNCs, IB scholars' study of these firms has been limited (with notable early exceptions like Aharoni, 1986;Anastassopoulos, Blanc, & Dussauge, 1987;Mazzolini, 1979;Vernon, 1979; and more recent studies like Buckley, Clegg, Cross, Liu, Voss, & Zheng, 2007;Cui & Jiang, 2012;Knutsen, Rygh, & Hveem, 2011;Shapiro & Globerman, 2012; and the papers in this special issue). This gap in the IB literature is perhaps due to the fact that the internationalization of SOMNCs on a massive scale is indeed a relatively new phenomenon.…”

Section: Introductionmentioning

confidence: 99%

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Governments as owners: State-owned multinational companies

et al. 2014

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The globalization of state-owned multinational companies (SOMNCs) has become an important phenomenon in international business (IB), yet it has received scant attention in the literature. We explain how the analysis of SOMNCs can help advance the literature by extending our understanding of state-owned firms (SOEs) and multinational companies (MNCs) in at least two ways. First, we cross-fertilize the IB and SOEs literatures in their analysis of foreign investment behavior and introduce two arguments: the extraterritoriality argument, which helps explain how the MNC dimension of SOMNCs extends the SOE literature, and the non-business internationalization argument, which helps explain how the SOE dimension of SOMNCs extends the MNC literature. Second, we analyze how the study of SOMNCs can help develop new insights of theories of firm behavior. In this respect, we introduce five arguments: the triple agency conflict argument in agency theory; the owner risk argument in transaction costs economics; the advantage and disadvantage of ownership argument in the resource-based view (RBV); the power escape argument in resource dependence theory; and the illegitimate ownership argument in neoinstitutional theory. After our analysis, we introduce the papers in the special issue that, collectively, reflect diverse and sophisticated research interest in the topic of SOMNCs.

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Section: Ideologies and Political Strategiesmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Governments as owners: State-owned multinational companies

et al. 2014

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“…They may expand abroad to project their growing political and economic power (Child & Rodrigues, 2005), establish a banking presence in distant financial centers such as New York or London to raise capital (Narula, 2012), set up R&D centers in advanced economies to acquire technical and tacit knowledge (Di Minin, Zhang, & Gammeltoft, 2012), or make passive investments in such countries to observe the decision-making processes of their invested subsidiaries (Shapiro & Globerman, 2012).…”

Section: Varieties In State Capitalismmentioning

confidence: 99%

“…Prior studies on the foreign venturing of SOEs have identified how incompatibilities between home country strategic interests and host country resistance can generate contravening circumstances affecting the cross-border activities of SOEs (Gordon & Tash, 2009;Kowalski et al, 2013;Shapiro & Globerman, 2012). While there has been no shortage of studies highlighting such important considerations, the cascading effect of institutional reforms in catalyzing diversity among SOEs and its profound consequences for how SOEs balance competing institutional demands in their cross-border FDI remain largely overlooked.…”

Section: Main Theoretical Contributionsmentioning

confidence: 99%

Varieties in state capitalism: Outward FDI strategies of central and local state-owned enterprises from emerging economy countries

2014

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Institutional diversity characterizing state-owned enterprises (SOEs) from emerging economies holds critical but under-examined implications for their internationalization activities. Different types of SOEs can exhibit distinct motivations, strategic resources, and adaptive capabilities for penetrating foreign markets. To understand how such idiosyncratic differences emerge, we conceptualize the heterogeneity of SOEs as an outcome of multiple institutional reform processesadministrative and fiscal decentralization, industrial restructuring, and market liberalization -which create diversity between SOEs affiliated with central and local levels of government. Building on the idea of "institutions-asconfigurations", we elucidate how such reforms reconfigure SOEs' constellation of resources, capabilities, and priorities which shape the parameters of their ability to negotiate for home and host country institutional legitimacy. Specifically, we propose that the restructuring of central SOEs into "national champions" exposes them to stronger institutional pressures from home and host country governments while local SOEs which have fewer obligations to serve national strategic prerogatives display greater managerial autonomy and market orientation, but lower levels of monopolistic behavior. We discuss how such contrasting attributes contribute to variations in SOEs' international business diversification patterns, foreign subsidiary establishment and ownership modes, and overseas location preferences. Recognition of SOEs' organizational diversity holds important implications for theories on state-owned multinationals.

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“…Different scholars agree that it is quite usual for SOEs to take the status of a natural monopoly (Shapiro et al, 2009;Mac Carthaigh, 2009;Ha-Joon Chang, 2007;Pollitt, M., 1999). Thus, one of the tests applied in this research was related to a comparison of managerial efficiency in the SOEs that could be attributed to the group of natural monopolies and those working in the competitive market.…”

Section: Correlation Between Structural Elements Of Soes and Managemementioning

confidence: 99%

Effects of Corporate Governance on Management Efficiency of Lithuanian State-Owned Enterprises

Jurkonis¹,

Petrusauskaitė²

2014

ECO

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Management efficiency of state-owned enterprises (SOE) is being widely discussed not only in Lithuania, Central Eastern Europe, but also globally (mainly focusing on such countries as China, having state monopoly in most of the industries). Moreover, this topic is interesting to scholars both in the context of public governance reforms and a specific area of public administration. On the other hand, the topic of SOEs management is quite specific due to its duality: firstly, it is an area of public governance with an intensive intervention of the government, and secondly, SOEs are autonomous enterprises having dual -social (e.g., creation of work places, implementation of state-level projects, etc.) and economic (e.g., profitability, return on investment, etc.) -goals. Following the paradigms of (post) new public governance, principal agent theory, corporate governance guidelines established by such international organizations as the OECD, World Bank, International Monetary Fund and others, this paper is focusing on the management and performance of SOEs, trying to find an evidence of positive effects related to the implementation of corporate governance principles in Lithuanian SOEs. The paper seeks to identify those aspects of corporate governance which are the most relevant in terms of their potential effect on the management efficiency of Lithuanian SOEs.

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The International Activities and Impacts of State-Owned Enterprises

Cited by 31 publications

References 59 publications

Governments as owners: State-owned multinational companies

Governments as owners: State-owned multinational companies

Varieties in state capitalism: Outward FDI strategies of central and local state-owned enterprises from emerging economy countries

Effects of Corporate Governance on Management Efficiency of Lithuanian State-Owned Enterprises

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