IDEAS home Printed from https://ideas.repec.org/a/eee/worbus/v56y2021i1s1090951620300419.html
   My bibliography  Save this article

State ownership, political ideology, and firm performance around the world

Author

Listed:
  • Aguilera, Ruth
  • Duran, Patricio
  • Heugens, P.P.M.A.R.
  • Sauerwald, Steve
  • Turturea, Roxana
  • VanEssen, Marc

Abstract

It is often taken as a stylized fact that state ownership harms the financial performance of firms. Yet we show that this relationship varies greatly across national contexts. We argue that the political ideology of the government, both independently and in conjunction with political institutions (state capacity and political constraint), affects this relationship. We test our hypotheses using meta-analytical techniques on an international sample spanning 53 years and 131 countries. Our research sheds further light on the state ownership – firm performance relationship by highlighting the role of the political ideology of the government, and its interactions with political institutions.

Suggested Citation

  • Aguilera, Ruth & Duran, Patricio & Heugens, P.P.M.A.R. & Sauerwald, Steve & Turturea, Roxana & VanEssen, Marc, 2021. "State ownership, political ideology, and firm performance around the world," Journal of World Business, Elsevier, vol. 56(1).
    • Handle: RePEc:eee:worbus:v:56:y:2021:i:1:s1090951620300419
    DOI: 10.1016/j.jwb.2020.101113
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1090951620300419
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jwb.2020.101113?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Estrin, Saul & Meyer, Klaus E. & Nielsen, Bo B. & Nielsen, Sabina, 2016. "Home country institutions and the internationalization of state owned enterprises: A cross-country analysis," Journal of World Business, Elsevier, vol. 51(2), pages 294-307.
    2. Christian Schwens & Florian B. Zapkau & Michael Bierwerth & Rodrigo Isidor & Gary Knight & Rüdiger Kabst, 2018. "International Entrepreneurship: A Meta–Analysis on the Internationalization and Performance Relationship," Entrepreneurship Theory and Practice, , vol. 42(5), pages 734-768, September.
    3. Wang, Quan-Jing & Feng, Gen-Fu & Chen, Yin E. & Wen, Jun & Chang, Chun-Ping, 2019. "The impacts of government ideology on innovation: What are the main implications?," Research Policy, Elsevier, vol. 48(5), pages 1232-1247.
    4. Ilya Okhmatovskiy, 2010. "Performance Implications of Ties to the Government and SOEs: A Political Embeddedness Perspective," Journal of Management Studies, Wiley Blackwell, vol. 47(6), pages 1020-1047, September.
    5. Lars Oxelheim & Trond Randøy, 2005. "The Anglo-American financial influence on CEO compensation in non-Anglo-American firms," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 36(4), pages 470-483, July.
    6. Bai, Chong-En & Xu, Lixin Colin, 2005. "Incentives for CEOs with multitasks: Evidence from Chinese state-owned enterprises," Journal of Comparative Economics, Elsevier, vol. 33(3), pages 517-539, September.
    7. Ben-Nasr, Hamdi & Cosset, Jean-Claude, 2014. "State Ownership, Political Institutions, and Stock Price Informativeness: Evidence from Privatization," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 179-199.
    8. Guy L. F. Holburn & Bennet A. Zelner, 2010. "Political capabilities, policy risk, and international investment strategy: evidence from the global electric power generation industry," Strategic Management Journal, Wiley Blackwell, vol. 31(12), pages 1290-1315, December.
    9. Ioannis Ioannou & George Serafeim, 2012. "What drives corporate social performance? The role of nation-level institutions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 43(9), pages 834-864, December.
    10. Jan Hanousek & Evžen Kočenda & Jan Svejnar, 2007. "Origin and concentration," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 15(1), pages 1-31, January.
    11. Douglass C. North, 1991. "Institutions," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 97-112, Winter.
    12. Dani Rodrik, 2018. "Is Populism Necessarily Bad Economics?," AEA Papers and Proceedings, American Economic Association, vol. 108, pages 196-199, May.
    13. Bernardo Bortolotti & Mara Faccio, 2009. "Government Control of Privatized Firms," The Review of Financial Studies, Society for Financial Studies, vol. 22(8), pages 2907-2939, August.
    14. Roberts, Michael R. & Whited, Toni M., 2013. "Endogeneity in Empirical Corporate Finance1," Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, volume 2, chapter 0, pages 493-572, Elsevier.
    15. Francis Fukuyama, 2013. "What Is Governance?," Working Papers 314, Center for Global Development.
    16. S. Lioukas & D. Bourantas & V. Papadakis, 1993. "Managerial Autonomy of State-Owned Enterprises: Determining Factors," Organization Science, INFORMS, vol. 4(4), pages 645-666, November.
    17. Patricio Duran & Tatiana Kostova & Marc van Essen, 2017. "Political ideologies and the internationalization of family-controlled firms," Post-Print hal-02312102, HAL.
    18. Patricio Duran & Nadine Kammerlander & Marc van Essen & Thomas Zellweger, 2016. "Doing More with Less : Innovation Input and Output in Family Firms," Post-Print hal-02312103, HAL.
    19. Michael A Witt & Arie Y Lewin, 2007. "Outward foreign direct investment as escape response to home country institutional constraints," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 38(4), pages 579-594, July.
    20. Demsetz, Harold & Lehn, Kenneth, 1985. "The Structure of Corporate Ownership: Causes and Consequences," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1155-1177, December.
    21. Ruth V. Aguilera & Birgitte Grøgaard, 2019. "The dubious role of institutions in international business: A road forward," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(1), pages 20-35, February.
    22. John Earle & Saul Estrin, 2003. "Privatization, Competition, and Budget Constraints: Disciplining Enterprises in Russia," Economic Change and Restructuring, Springer, vol. 36(1), pages 1-22, March.
    23. Patricio Duran & Nadine Kammerlander & Marc van Essen & Thomas Zellweger, 2016. "Doing More with Less : Innovation Input and Output in Family Firms," Post-Print hal-02276703, HAL.
    24. Jeffry M. Netter & William L. Megginson, 2001. "From State to Market: A Survey of Empirical Studies on Privatization," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 321-389, June.
    25. Marco Pagano & Paolo F. Volpin, 2005. "The Political Economy of Corporate Governance," American Economic Review, American Economic Association, vol. 95(4), pages 1005-1030, September.
    26. Amit Karna & Ansgar Richter & Eberhard Riesenkampff, 2016. "Revisiting the role of the environment in the capabilities–financial performance relationship: A meta-analysis," Strategic Management Journal, Wiley Blackwell, vol. 37(6), pages 1154-1173, June.
    27. Mike W Peng & Denis Y L Wang & Yi Jiang, 2008. "An institution-based view of international business strategy: a focus on emerging economies," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 39(5), pages 920-936, July.
    28. Borisova, Ginka & Fotak, Veljko & Holland, Kateryna & Megginson, William L., 2015. "Government ownership and the cost of debt: Evidence from government investments in publicly traded firms," Journal of Financial Economics, Elsevier, vol. 118(1), pages 168-191.
    29. Veysel Avsar & Cem Karayalcin & Mehmet Ali Ulubasoglu, 2013. "State-owned Enterprises, Inequality, and Political Ideology," Economics and Politics, Wiley Blackwell, vol. 25(3), pages 387-410, November.
    30. Trien Vinh Le & Jonathan P. O'Brien, 2010. "Can Two Wrongs Make a Right? State Ownership and Debt in a Transition Economy," Journal of Management Studies, Wiley Blackwell, vol. 47(7), pages 1297-1316, November.
    31. Dorobantu, Sinziana & Müllner, Jakob, 2019. "Debt-side governance and the geography of project finance syndicates," Journal of Corporate Finance, Elsevier, vol. 57(C), pages 161-179.
    32. Paul M Vaaler & Burkhard N Schrage, 2009. "Residual state ownership, policy stability and financial performance following strategic decisions by privatizing telecoms," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 40(4), pages 621-641, May.
    33. Eskil Goldeng & Leo A. Grünfeld & Gabriel R. G. Benito, 2008. "The Performance Differential between Private and State Owned Enterprises: The Roles of Ownership, Management and Market Structure," Journal of Management Studies, Wiley Blackwell, vol. 45(7), pages 1244-1273, November.
    34. Wang, Junmin & Guthrie, Doug & Xiao, Zhixing, 2012. "The Rise of SASAC: Asset Management, Ownership Concentration, and Firm Performance in China's Capital Markets," Management and Organization Review, Cambridge University Press, vol. 8(2), pages 253-281, July.
    35. Steen Thomsen & Torben Pedersen, 2000. "Ownership structure and economic performance in the largest european companies," Strategic Management Journal, Wiley Blackwell, vol. 21(6), pages 689-705, June.
    36. Grosman, Anna & Aguilera, Ruth V. & Wright, Mike, 2019. "Lost in translation? Corporate governance, independent boards and blockholder appropriation," Journal of World Business, Elsevier, vol. 54(4), pages 258-272.
    37. Horstmann, Ignatius J. & Markusen, James R., 1986. "Up the average cost curve: Inefficient entry and the new protectionism," Journal of International Economics, Elsevier, vol. 20(3-4), pages 225-247, May.
    38. Jean-Luc Arrègle & Patricio Duran & Michael A. Hitt & Marc van Essen, 2017. "Why Is Family Firms' Internationalization Unique? A Meta-Analysis," Post-Print hal-02311886, HAL.
    39. Xiaohua Lin & Richard Germain, 2003. "Organizational structure, context, customer orientation, and performance: lessons from Chinese state‐owned enterprises," Strategic Management Journal, Wiley Blackwell, vol. 24(11), pages 1131-1151, November.
    40. Ciprian Stan & Mike Peng & Garry Bruton, 2014. "Slack and the performance of state-owned enterprises," Asia Pacific Journal of Management, Springer, vol. 31(2), pages 473-495, June.
    41. Alvaro Cuervo-Cazurra & Andrew Inkpen & Aldo Musacchio & Kannan Ramaswamy, 2014. "Governments as owners: State-owned multinational companies," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 45(8), pages 919-942, October.
    42. T.D. Stanley & Hristos Doucouliagos & Margaret Giles & Jost H. Heckemeyer & Robert J. Johnston & Patrice Laroche & Jon P. Nelson & Martin Paldam & Jacques Poot & Geoff Pugh & Randall S. Rosenberger & , 2013. "Meta-Analysis Of Economics Research Reporting Guidelines," Journal of Economic Surveys, Wiley Blackwell, vol. 27(2), pages 390-394, April.
    43. Zhi Cao & Yuan Li & Jayanth Jayaram & Yi Liu & Fabrice Lumineau, 2018. "A meta-analysis of the exchange hazards–interfirm governance relationship: An informal institutions perspective," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(3), pages 303-323, April.
    44. Sarah E. Wolfolds & Jordan Siegel, 2019. "Misaccounting for endogeneity: The peril of relying on the Heckman two‐step method without a valid instrument," Strategic Management Journal, Wiley Blackwell, vol. 40(3), pages 432-462, March.
    45. Boardman, Anthony E & Vining, Aidan R, 1989. "Ownership and Performance in Competitive Environments: A Comparison of the Performance of Private, Mixed, and State-Owned Enterprises," Journal of Law and Economics, University of Chicago Press, vol. 32(1), pages 1-33, April.
    46. Joshua D. Clinton & Anthony Bertelli & Christian R. Grose & David E. Lewis & David C. Nixon, 2012. "Separated Powers in the United States: The Ideology of Agencies, Presidents, and Congress," American Journal of Political Science, John Wiley & Sons, vol. 56(2), pages 341-354, April.
    47. Daron Acemoglu & Jacob Moscona & James A. Robinson, 2016. "State Capacity and American Technology: Evidence from the 19th Century," NBER Working Papers 21932, National Bureau of Economic Research, Inc.
    48. Wang, Junmin & Guthrie, Doug & Xiao, Zhixing, 2012. "The Rise of SASAC: Asset Management, Ownership Concentration, and Firm Performance in China's Capital Markets," Management and Organization Review, Cambridge University Press, vol. 8(02), pages 253-282, July.
    49. Leader Maynard, Jonathan & Mildenberger, Matto, 2018. "Convergence and Divergence in the Study of Ideology: A Critical Review," British Journal of Political Science, Cambridge University Press, vol. 48(2), pages 563-589, April.
    50. David Reeb & Mariko Sakakibara & Ishtiaq P Mahmood, 2012. "From the Editors: Endogeneity in international business research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 43(3), pages 211-218, April.
    51. Tian, Lihui & Estrin, Saul, 2008. "Retained state shareholding in Chinese PLCs: Does government ownership always reduce corporate value?," Journal of Comparative Economics, Elsevier, vol. 36(1), pages 74-89, March.
    52. Nandini Gupta, 2005. "Partial Privatization and Firm Performance," Journal of Finance, American Finance Association, vol. 60(2), pages 987-1015, April.
    53. Esteban García‐Canal & Mauro F. Guillén, 2008. "Risk and the strategy of foreign location choice in regulated industries," Strategic Management Journal, Wiley Blackwell, vol. 29(10), pages 1097-1115, October.
    54. von Hippel, Eric & Franke, Nikolaus & Prügl, Reinhard, 2009. "Pyramiding: Efficient search for rare subjects," Research Policy, Elsevier, vol. 38(9), pages 1397-1406, November.
    55. Timothy Werner, 2017. "Investor Reaction to Covert Corporate Political Activity," Strategic Management Journal, Wiley Blackwell, vol. 38(12), pages 2424-2443, December.
    56. Junmin Wang & Doug Guthrie & Zhixing Xiao, 2012. "The Rise of SASAC: Asset Management, Ownership Concentration, and Firm Performance in China's Capital Markets," Management and Organization Review, The International Association for Chinese Management Research, vol. 8(2), pages 253-281, July.
    57. Awaworyi Churchill, S. & Yew, S.L., 2017. "Are government transfers harmful to economic growth? A meta-analysis," Economic Modelling, Elsevier, vol. 64(C), pages 270-287.
    58. Williams, Christopher & Vrabie, Alina, 2018. "Host country R&D determinants of MNE entry strategy: A study of ownership in the automobile industry," Research Policy, Elsevier, vol. 47(2), pages 474-486.
    59. Bruno Biais & Enrico Perotti, 2002. "Machiavellian Privatization," American Economic Review, American Economic Association, vol. 92(1), pages 240-258, March.
    60. Claessens, Stijn & Djankov, Simeon, 2002. "Privatization benefits in Eastern Europe," Journal of Public Economics, Elsevier, vol. 83(3), pages 307-324, March.
    61. Boubakri, Narjess & Cosset, Jean-Claude & Guedhami, Omrane, 2005. "Liberalization, corporate governance and the performance of privatized firms in developing countries," Journal of Corporate Finance, Elsevier, vol. 11(5), pages 767-790, October.
    62. Seung Ho Park & Shaomin Li & David K Tse, 2006. "Market liberalization and firm performance during China's economic transition," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 37(1), pages 127-147, January.
    63. Jiang, Yi & Peng, Mike W. & Yang, Xiaohua & Mutlu, Canan C., 2015. "Privatization, governance, and survival: MNE investments in private participation projects in emerging economies," Journal of World Business, Elsevier, vol. 50(2), pages 294-301.
    64. Lin, Justin Yifu & Cai, Fang & Li, Zhou, 1998. "Competition, Policy Burdens, and State-Owned Enterprise Reform," American Economic Review, American Economic Association, vol. 88(2), pages 422-427, May.
    65. T.D. Stanley & Hristos Doucouliagos & Margaret Giles & Jost Heckemeyer & Robert Johnston & Patrice Laroche & Jon Nelson & Martin Paldam & Jacques Poot & Geoff Pugh & Randall Rosenberger & Katja Rost, 2013. "Meta-analysis of economics research reporting guidelines," Post-Print hal-02137661, HAL.
    66. Patricio Duran & Marc van Essen & Pursey P. M. A. R. Heugens & Tatiana Kostova & Mike W. Peng, 2019. "The impact of institutions on the competitive advantage of publicly listed family firms in emerging markets," Post-Print hal-02312178, HAL.
    67. Grier, Kevin B. & Munger, Michael C. & Roberts, Brian E., 1994. "The Determinants of Industry Political Activity, 1978–1986," American Political Science Review, Cambridge University Press, vol. 88(4), pages 911-926, December.
    68. Chen, Gongmeng & Firth, Michael & Xu, Liping, 2009. "Does the type of ownership control matter? Evidence from China's listed companies," Journal of Banking & Finance, Elsevier, vol. 33(1), pages 171-181, January.
    69. Fainshmidt, Stav & Judge, William Q. & Aguilera, Ruth V. & Smith, Adam, 2018. "Varieties of institutional systems: A contextual taxonomy of understudied countries," Journal of World Business, Elsevier, vol. 53(3), pages 307-322.
    70. Canan C. Mutlu & Marc van Essen & Mike W. Peng & Sabrina F. Saleh & Patricio Duran, 2018. "Corporate Governance in China : A Meta-Analysis," Post-Print hal-02312124, HAL.
    71. C. Chet Miller & Nathan T. Washburn & William H. Glick, 2013. "PERSPECTIVE—The Myth of Firm Performance," Organization Science, INFORMS, vol. 24(3), pages 948-964, June.
    72. Berdiev, Aziz N. & Kim, Yoonbai & Chang, Chun Ping, 2012. "The political economy of exchange rate regimes in developed and developing countries," European Journal of Political Economy, Elsevier, vol. 28(1), pages 38-53.
    73. Irena Hutton & Danling Jiang & Alok Kumar, 2015. "Political Values, Culture, and Corporate Litigation," Management Science, INFORMS, vol. 61(12), pages 2905-2925, December.
    74. Leader Maynard, Jonathan & Mildenberger, Matto, 2018. "Convergence and Divergence in the Study of Ideology: A Critical Review – ERRATUM," British Journal of Political Science, Cambridge University Press, vol. 48(2), pages 591-591, April.
    75. Clegg, L. Jeremy & Voss, Hinrich & Tardios, Janja A., 2018. "The autocratic advantage: Internationalization of state-owned multinationals," Journal of World Business, Elsevier, vol. 53(5), pages 668-681.
    76. Kanbur, S. M. R. & Myles, G. D., 1992. "Policy choice and political constraints," European Journal of Political Economy, Elsevier, vol. 8(1), pages 1-29, February.
    77. Boubakri, Narjess & El Ghoul, Sadok & Guedhami, Omrane & Megginson, William L., 2018. "The market value of government ownership," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 44-65.
    78. Valentina Marano & Jean-Luc Arregle & Michael Hitt & Ettore Spadafora & Marc van Essen, 2016. "Home Country Institutions and the Internationalization-Performance Relationship : A Meta-Analytic Review," Post-Print hal-02313365, HAL.
    79. Mehmet Ugur & Sefa Awaworyi Churchill & Edna Solomon, 2018. "Technological Innovation And Employment In Derived Labour Demand Models: A Hierarchical Meta†Regression Analysis," Journal of Economic Surveys, Wiley Blackwell, vol. 32(1), pages 50-82, February.
    80. Daron Acemoglu & Jacob Moscona & James A. Robinson, 2016. "State Capacity and American Technology: Evidence from the Nineteenth Century," American Economic Review, American Economic Association, vol. 106(5), pages 61-67, May.
    81. Sjoerd Beugelsdijk & Tatiana Kostova & Vincent E. Kunst & Ettore Spadafora & Marc van Essen, 2018. "Cultural Distance and Firm Internationalization," Post-Print hal-02312065, HAL.
    82. Canan C. Mutlu & Marc Van Essen & Mike W. Peng & Sabrina F. Saleh & Patricio Duran, 2018. "Corporate Governance in China: A Meta‐Analysis," Journal of Management Studies, Wiley Blackwell, vol. 55(6), pages 943-979, September.
    83. Dane M. Christensen & Dan S. Dhaliwal & Steven Boivie & Scott D. Graffin, 2015. "Top management conservatism and corporate risk strategies: Evidence from managers' personal political orientation and corporate tax avoidance," Strategic Management Journal, Wiley Blackwell, vol. 36(12), pages 1918-1938, December.
    84. Henisz, Witold J, 2000. "The Institutional Environment for Multinational Investment," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 16(2), pages 334-364, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ahmed Aboud & Ahmed Diab, 2022. "Ownership Characteristics and Financial Performance: Evidence from Chinese Split-Share Structure Reform," Sustainability, MDPI, vol. 14(12), pages 1-18, June.
    2. Shukuan Zhao & Bochen Zhang & Dong Shao & Shuang Wang, 2021. "Can Top Management Teams' Academic Experience Promote Green Innovation Output: Evidence from Chinese Enterprises," Sustainability, MDPI, vol. 13(20), pages 1-21, October.
    3. Alvaro Cuervo‐Cazurra & Patricio Duran & Jean‐Luc Arregle & Marc van Essen, 2023. "Host Country Politics and Internationalization: A Meta‐Analytic Review," Journal of Management Studies, Wiley Blackwell, vol. 60(1), pages 204-241, January.
    4. Huang, Dongdong & Tsui-Auch, Lai Si & Dieleman, Marleen & Gomulya, David, 2024. "Politically connected EMNCs in a (de)globalising world: A review and future research directions," International Business Review, Elsevier, vol. 33(3).
    5. Bae, Sung C. & Kwon, Taek Ho & Liu, Chenyang, 2024. "The impact of high-pressure political reforms on state-owned enterprises: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 91(C).
    6. Dasilas, Apostolos, 2024. "The nonlinear relationship between employee stock ownership plans and firm performance: Evidence from China," Journal of Business Research, Elsevier, vol. 173(C).
    7. Jianfei Zhao & Anan Pongtornkulpanich & Wenjin Cheng, 2022. "The Impact of Board Size on Green Innovation in China’s Heavily Polluting Enterprises: The Mediating Role of Innovation Openness," Sustainability, MDPI, vol. 14(14), pages 1-20, July.
    8. Yin, Doudou & Si, Deng-Kui & Wang, Yun, 2024. "How does corporate investment respond to trade policy uncertainty in China? The role of political connections," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 1429-1445.
    9. Jiang, Jiangang & Zhang, Jianhong, 2023. "Does political ideology matter in Chinese cross-border acquisitions?," Journal of Business Research, Elsevier, vol. 161(C).
    10. Isabel‐María García‐Sánchez & Cristina Aibar‐Guzmán & Miriam Núñez‐Torrado & Beatriz Aibar‐Guzmán, 2022. "Are institutional investors “in love” with the sustainable development goals? Understanding the idyll in the case of governments and pension funds," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(5), pages 1099-1116, October.
    11. Alvaro Cuervo-Cazurra & Patricio Duran & Jean-Luc Arrègle & Marc van Essen, 2023. "Host Country Politics and Internationalization," Post-Print hal-04381312, HAL.
    12. Guangfan Sun & Changwei Guo & Junchen Ye & Chaoran Ji & Nuo Xu & Hanqi Li, 2022. "How ESG Contribute to the High-Quality Development of State-Owned Enterprise in China: A Multi-Stage fsQCA Method," Sustainability, MDPI, vol. 14(23), pages 1-18, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pascual Berrone & Patricio Duran & Luis Gómez-Mejía & Pursey P M A R Heugens & Tatiana Kostova & Marc Essen, 2022. "Impact of informal institutions on the prevalence, strategy, and performance of family firms: A meta-analysis," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(6), pages 1153-1177, August.
    2. Mike W. Peng & Garry D. Bruton & Ciprian V. Stan & Yuanyuan Huang, 2016. "Theories of the (state-owned) firm," Asia Pacific Journal of Management, Springer, vol. 33(2), pages 293-317, June.
    3. Panicker, Vidya Sukumara & Upadhyayula, Rajesh Srinivas & Sivakumar, Sandeep, 2022. "Internationalization of hybrid state-owned enterprises from emerging markets: Institutional investors as enablers," Journal of Business Research, Elsevier, vol. 151(C), pages 409-422.
    4. Alvaro Cuervo-Cazurra & Patricio Duran & Jean-Luc Arrègle & Marc van Essen, 2023. "Host Country Politics and Internationalization," Post-Print hal-04381312, HAL.
    5. Cabeza-García, Laura & Gómez-Ansón, Silvia, 2011. "Post-privatisation ownership concentration: Determinants and influence on firm efficiency," Journal of Comparative Economics, Elsevier, vol. 39(3), pages 412-430, September.
    6. Cheung, Zeerim & Aalto, Eero & Nevalainen, Pasi, 2020. "Institutional Logics and the Internationalization of a State-Owned Enterprise: Evaluation of International Venture Opportunities by Telecom Finland 1987–1998," Journal of World Business, Elsevier, vol. 55(6).
    7. Estrin, Saul & Meyer, Klaus E. & Nielsen, Bo B. & Nielsen, Sabina, 2016. "Home country institutions and the internationalization of state owned enterprises: A cross-country analysis," Journal of World Business, Elsevier, vol. 51(2), pages 294-307.
    8. Ruth V. Aguilera & Valentina Marano & Ilir Haxhi, 2019. "International corporate governance: A review and opportunities for future research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(4), pages 457-498, June.
    9. Boubakri, Narjess & Guedhami, Omrane & Kwok, Chuck C.Y. & Wang, He (Helen), 2019. "Is privatization a socially responsible reform?," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 129-151.
    10. Cuervo-Cazurra, Alvaro & Li, Cheng, 2021. "State ownership and internationalization: The advantage and disadvantage of stateness," Journal of World Business, Elsevier, vol. 56(1).
    11. Xiaoming He & Lin Cui & Klaus E. Meyer, 2022. "How state and market logics influence firm strategy from within and outside? Evidence from Chinese financial intermediary firms," Asia Pacific Journal of Management, Springer, vol. 39(2), pages 587-614, June.
    12. Sergio Mariotti & Riccardo Marzano, 2019. "Varieties of capitalism and the internationalization of state-owned enterprises," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(5), pages 669-691, July.
    13. Huang, Yuanyuan & Xie, En & Li, Yu & Reddy, K.S., 2017. "Does state ownership facilitate outward FDI of Chinese SOEs? Institutional development, market competition, and the logic of interdependence between governments and SOEs," International Business Review, Elsevier, vol. 26(1), pages 176-188.
    14. Alvaro Cuervo‐Cazurra & Patricio Duran & Jean‐Luc Arregle & Marc van Essen, 2023. "Host Country Politics and Internationalization: A Meta‐Analytic Review," Journal of Management Studies, Wiley Blackwell, vol. 60(1), pages 204-241, January.
    15. Ruiyuan Chen & Sadok El Ghoul & Omrane Guedhami & Chuck C. Y. Kwok & Robert Nash, 2021. "International evidence on state ownership and trade credit: Opportunities and motivations," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(6), pages 1121-1158, August.
    16. Lazzarini,Sergio G., 2022. "The Right Privatization," Cambridge Books, Cambridge University Press, number 9781316519714, September.
    17. Buitrago R., Ricardo E. & Barbosa Camargo, María Inés, 2021. "Institutions, institutional quality, and international competitiveness: Review and examination of future research directions," Journal of Business Research, Elsevier, vol. 128(C), pages 423-435.
    18. Ciprian Stan & Mike Peng & Garry Bruton, 2014. "Slack and the performance of state-owned enterprises," Asia Pacific Journal of Management, Springer, vol. 31(2), pages 473-495, June.
    19. Pei Sun & Jonathan P. Doh & Tazeeb Rajwani & Donald Siegel, 2021. "Navigating cross-border institutional complexity: A review and assessment of multinational nonmarket strategy research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(9), pages 1818-1853, December.
    20. Farman Ullah Khan & Junrui Zhang & Nanyan Dong & Muhammad Usman & Sajid Ullah & Shahid Ali, 2021. "Does privatization matter for corporate social responsibility? Evidence from China," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 11(3), pages 497-515, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:worbus:v:56:y:2021:i:1:s1090951620300419. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/620401/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.