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Varieties of capitalism and the internationalization of state-owned enterprises

Author

Listed:
  • Sergio Mariotti

    (DIG - Politecnico di Milano)

  • Riccardo Marzano

    (DIAG - Sapienza Università di Roma)

Abstract

This article sheds light on how the internationalization of state-owned enterprises is influenced by the state involvement in ownership and by the home country’s institutional settings. Integrating international business literature with the debate on the varieties of capitalism, we contend that state-dominated enterprises internationalize more (less) than privately owned enterprises in coordinated (liberal) market economies, whereas they exhibit an inconstant behavior in state-influenced market economies. Our analysis on a sample of enterprises pertaining to 20 OECD countries supports our hypotheses. This article adds to studies on the influence of institutions on firms’ internationalization and has implications for both managers and policymakers.

Suggested Citation

  • 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.
    • Handle: RePEc:pal:jintbs:v:50:y:2019:i:5:d:10.1057_s41267-018-00208-2
    DOI: 10.1057/s41267-018-00208-2
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