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Hybrid ownership and internationalization of emerging market firms: An institution-based view

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  • Ogbuigwe, Tega D.
  • Gao, Hongzhi
  • Kahiya, Eldrede
  • Chugh, Richa

Abstract

The emergence of hybrid ownership structures and their impact on outward foreign direct investment activities is a critical but under-investigated phenomenon in international business. In this study, we carve out three sequential components of hybrid ownership that capture the intra-organizational elements of hybrid firms: the typology of hybridization, degree of hybridization, and nature of hybridization. Grounded in the context of emerging market firms (EMFs), our study adopts the institution-based view to elaborate on how hybrid ownership benefits EMFs’ internationalization. We contend that, as a micro-level institutional strategy, hybridization generates resource and legitimacy benefits, and safeguards operational autonomy to allow EMFs to navigate the ‘liability of emergingness’ in internationalization. Our study offers a conceptual framework and propositions that provide nuance on hybridization and the internationalization of EMFs.

Suggested Citation

  • Ogbuigwe, Tega D. & Gao, Hongzhi & Kahiya, Eldrede & Chugh, Richa, 2025. "Hybrid ownership and internationalization of emerging market firms: An institution-based view," International Business Review, Elsevier, vol. 34(6).
    • Handle: RePEc:eee:iburev:v:34:y:2025:i:6:s0969593125001143
    DOI: 10.1016/j.ibusrev.2025.102501
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