IDEAS home Printed from https://ideas.repec.org/a/pal/abaman/v22y2023i1d10.1057_s41291-021-00150-6.html
   My bibliography  Save this article

Emerging market state-owned multinationals: a review and implications for the state capitalism debate

Author

Listed:
  • Andrei Panibratov

    (St. Petersburg State University)

  • Daria Klishevich

    (St. Petersburg State University)

Abstract

Internationalization of state-owned enterprises from emerging markets (EMSOEs) increasingly attracts the attention of scholars and results in an impressive body of research. Chinese state companies are the major focus in this debate. Yet, the conclusions of scholars generate a great variety of theorizing in a field that lacks systematization, which requires an assessment of the existing knowledge and a study of where the field is moving. We review the existing research in top academic journals in international business and strategic management and reveal the two major thematic strands that accommodate the discussion on EMSOEs’ internationalization from 2012 when the topic started receiving much scholarly attention. These are the government’s role in EMSOEs’ internationalization and the diversity of EMSOEs. We present the future prospective topics and questions within the debate on EMSOEs’ internationalization that promise to move the scholarly debate on this phenomenon forward.

Suggested Citation

  • Andrei Panibratov & Daria Klishevich, 2023. "Emerging market state-owned multinationals: a review and implications for the state capitalism debate," Asian Business & Management, Palgrave Macmillan, vol. 22(1), pages 84-117, February.
    • Handle: RePEc:pal:abaman:v:22:y:2023:i:1:d:10.1057_s41291-021-00150-6
    DOI: 10.1057/s41291-021-00150-6
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41291-021-00150-6
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1057/s41291-021-00150-6?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. Demirbag, Mehmet & Tatoglu, Ekrem & Glaister, Keith W., 2009. "Equity-based entry modes of emerging country multinationals: Lessons from Turkey," Journal of World Business, Elsevier, vol. 44(4), pages 445-462, October.
    3. Xiaoming He & Subrata Chakrabarty & Lorraine Eden, 2016. "The global emergence of Chinese multinationals: A resource-based view of ownership and performance," Asian Business & Management, Palgrave Macmillan, vol. 15(1), pages 1-31, February.
    4. A Erin Bass & Subrata Chakrabarty, 2014. "Resource security: Competition for global resources, strategic intent, and governments as owners," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 45(8), pages 961-979, October.
    5. Gabriel R. G. Benito & Randi Lunnan & Sverre Tomassen, 2011. "Distant Encounters of the Third Kind: Multinational Companies Locating Divisional Headquarters Abroad," Journal of Management Studies, Wiley Blackwell, vol. 48(2), pages 373-394, March.
    6. Luo, Yadong & Xue, Qiuzhi & Han, Binjie, 2010. "How emerging market governments promote outward FDI: Experience from China," Journal of World Business, Elsevier, vol. 45(1), pages 68-79, January.
    7. Ren, Monica & Manning, Stephan & Vavilov, Stanislav, 2019. "Does state ownership really matter? The dynamic alignment of China's resource environment and firm internationalization strategies," Journal of International Management, Elsevier, vol. 25(3), pages 1-1.
    8. Jonathan Doh & Suzana Rodrigues & Ayse Saka-Helmhout & Mona Makhija, 2017. "International business responses to institutional voids," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 48(3), pages 293-307, April.
    9. Karolyi, G. Andrew & Liao, Rose C., 2017. "State capitalism's global reach: Evidence from foreign acquisitions by state-owned companies," Journal of Corporate Finance, Elsevier, vol. 42(C), pages 367-391.
    10. Lee Jones & Yizheng Zou, 2017. "Rethinking the Role of State-owned Enterprises in China’s Rise," New Political Economy, Taylor & Francis Journals, vol. 22(6), pages 743-760, November.
    11. Irina Jormanainen & Alexei Koveshnikov, 2012. "International Activities of Emerging Market Firms," Management International Review, Springer, vol. 52(5), pages 691-725, October.
    12. Whetten, David A., 2009. "An Examination of the Interface between Context and Theory Applied to the Study of Chinese Organizations," Management and Organization Review, Cambridge University Press, vol. 5(1), pages 29-56, March.
    13. Klaus Meyer & Ornjira Thaijongrak, 2013. "The dynamics of emerging economy MNEs: How the internationalization process model can guide future research," Asia Pacific Journal of Management, Springer, vol. 30(4), pages 1125-1153, December.
    14. Jiatao Li & Peixin Li & Baolian Wang, 2019. "The liability of opaqueness: State ownership and the likelihood of deal completion in international acquisitions by Chinese firms," Strategic Management Journal, Wiley Blackwell, vol. 40(2), pages 303-327, February.
    15. Geoffrey M. Hodgson, 2016. "Varieties of Capitalism: Some Philosophical and Historical Considerations," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 40(3), pages 941-960.
    16. Grimm Noh & Dongyoub Shin, 2018. "The different influences of the government and politicians on the international expansion of Chinese firms," Asian Business & Management, Palgrave Macmillan, vol. 17(5), pages 366-396, December.
    17. Fernanda Arreola & Rodrigo Bandeira-de-Mello, 2018. "The Differential Effects of Minority State Ownership Types on the Internationalization of Emerging Market Multinationals from Democratic States," Management International Review, Springer, vol. 58(5), pages 845-869, October.
    18. 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.
    19. Tang, Ryan W., 2019. "FDI expansion speed of state-owned enterprises and the moderating role of market capitalism: Evidence from China," International Business Review, Elsevier, vol. 28(6), pages 1-1.
    20. Jing Li & Jun Xia & Zhouyu Lin, 2017. "Cross-border acquisitions by state-owned firms: How do legitimacy concerns affect the completion and duration of their acquisitions?," Strategic Management Journal, Wiley Blackwell, vol. 38(9), pages 1915-1934, September.
    21. Yuan Lu & Lianxi Zhou & Garry Bruton & Weiwen Li, 2010. "Capabilities as a mediator linking resources and the international performance of entrepreneurial firms in an emerging economy," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 41(3), pages 419-436, April.
    22. Peter J Buckley & L Jeremy Clegg & Adam R Cross & Xin Liu & Hinrich Voss & Ping Zheng, 2007. "The determinants of Chinese outward foreign direct investment," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 38(4), pages 499-518, July.
    23. Wang, Chengqi & Hong, Junjie & Kafouros, Mario & Boateng, Agyenim, 2012. "What drives outward FDI of Chinese firms? Testing the explanatory power of three theoretical frameworks," International Business Review, Elsevier, vol. 21(3), pages 425-438.
    24. 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.
    25. Alan M. Rugman & Alain Verbeke, 2005. "A Note on the Transnational Solution and the Transaction Cost Theory of Multinational Strategic Management," Chapters, in: Analysis of Multinational Strategic Management, chapter 2, pages 16-26, Edward Elgar Publishing.
    26. Andrei Panibratov & Snejina Michailova, 2019. "The role of state ownership and home government political support in Russian multinationals’ internationalization," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 14(3), pages 436-450, February.
    27. Ronaldo Parente & Ke Rong & José-Mauricio G. Geleilate & Everlyne Misati, 2019. "Adapting and sustaining operations in weak institutional environments: A business ecosystem assessment of a Chinese MNE in Central Africa," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(2), pages 275-291, March.
    28. Raymond Vernon, 1966. "International Investment and International Trade in the Product Cycle," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 80(2), pages 190-207.
    29. Robert Grosse, 2016. "How emerging markets firms will become global leaders," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 11(3), pages 274-287, July.
    30. Wei, Tian & Clegg, Jeremy & Ma, Lei, 2015. "The conscious and unconscious facilitating role of the Chinese government in shaping the internationalization of Chinese MNCs," International Business Review, Elsevier, vol. 24(2), pages 331-343.
    31. Alvaro Cuervo-Cazurra & Mehmet Genc, 2008. "Transforming disadvantages into advantages: developing-country MNEs in the least developed countries," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 39(6), pages 957-979, September.
    32. Peter J. Buckley & Adam R. Cross & Hui Tan & Liu Xin & Hinrich Voss, 2008. "Historic and Emergent Trends in Chinese Outward Direct Investment," Management International Review, Springer, vol. 48(6), pages 715-748, December.
    33. Liu, Xiaohui & Gao, Lan & Lu, Jiangyong & Lioliou, Eleni, 2016. "Environmental risks, localization and the overseas subsidiary performance of MNEs from an emerging economy," Journal of World Business, Elsevier, vol. 51(3), pages 356-368.
    34. Child, John & Rodrigues, Suzana B., 2005. "The Internationalization of Chinese Firms: A Case for Theoretical Extension?1," Management and Organization Review, Cambridge University Press, vol. 1(3), pages 381-410, November.
    35. Klaus E Meyer & Yuan Ding & Jing Li & Hua Zhang, 2014. "Overcoming distrust: How state-owned enterprises adapt their foreign entries to institutional pressures abroad," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 45(8), pages 1005-1028, October.
    36. Knutsen, Carl Henrik & Rygh, Asmund & Hveem, Helge, 2011. "Does State Ownership Matter? Institutions' Effect on Foreign Direct Investment Revisited," Business and Politics, Cambridge University Press, vol. 13(1), pages 1-31, April.
    37. Chengqi Wang & Junjie Hong & Mario Kafouros & Mike Wright, 2012. "Exploring the role of government involvement in outward FDI from emerging economies," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 43(7), pages 655-676, September.
    38. 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.
    39. Hu, Helen Wei & Cui, Lin, 2014. "Outward foreign direct investment of publicly listed firms from China: A corporate governance perspective," International Business Review, Elsevier, vol. 23(4), pages 750-760.
    40. Bersant Hobdari & Aleksandra Gregoric & Evis Sinani, 2011. "The role of firm ownership on internationalization: evidence from two transition economies," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 15(3), pages 393-413, August.
    41. Alvaro Cuervo-Cazurra, 2018. "Thanks but no thanks: State-owned multinationals from emerging markets and host-country policies," Journal of International Business Policy, Palgrave Macmillan, vol. 1(3), pages 128-156, December.
    42. Eduardsen, Jonas & Marinova, Svetla, 2020. "Internationalisation and risk: Literature review, integrative framework and research agenda," International Business Review, Elsevier, vol. 29(3).
    43. Birgitte Grøgaard & Asmund Rygh & Gabriel R. G. Benito, 2019. "Bringing corporate governance into internalization theory: State ownership and foreign entry strategies," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(8), pages 1310-1337, October.
    44. Li, Jing & Xia, Jun & Shapiro, Daniel & Lin, Zhouyu, 2018. "Institutional compatibility and the internationalization of Chinese SOEs: The moderating role of home subnational institutions," Journal of World Business, Elsevier, vol. 53(5), pages 641-652.
    45. Justin Paul & Gabriel R. G. Benito, 2018. "A review of research on outward foreign direct investment from emerging countries, including China: what do we know, how do we know and where should we be heading?," Asia Pacific Business Review, Taylor & Francis Journals, vol. 24(1), pages 90-115, January.
    46. Alvaro Cuervo-Cazurra & Ajai Gaur & Deeksha Singh, 2019. "Pro-market institutions and global strategy: The pendulum of pro-market reforms and reversals," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(4), pages 598-632, June.
    47. Ziliang Deng & Jiayan Yan & Pei Sun, 2020. "Political Status and Tax Haven Investment of Emerging Market Firms: Evidence from China," Journal of Business Ethics, Springer, vol. 165(3), pages 469-488, September.
    48. Rodrigues, Suzana B. & Dieleman, Marleen, 2018. "The internationalization paradox: Untangling dependence in multinational state hybrids," Journal of World Business, Elsevier, vol. 53(1), pages 39-51.
    49. Peter J. Buckley & Mark Casson, 1991. "The Future of the Multinational Enterprise," Palgrave Macmillan Books, Palgrave Macmillan, edition 0, number 978-1-349-21204-0, December.
    50. Jing-Lin Duanmu, 2014. "State-owned MNCs and host country expropriation risk: The role of home state soft power and economic gunboat diplomacy," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 45(8), pages 1044-1060, October.
    51. Catherine Welch & Rebecca Piekkari & Emmanuella Plakoyiannaki & Eriikka Paavilainen-Mantymaki, 2011. "Theorising from case studies: Towards a pluralist future for international business research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 42(5), pages 740-762, June.
    52. Yuandi Wang & Jason Li-Ying, 2014. "How do the BRIC countries play their roles in the global innovation arena? A study based on USPTO patents during 1990–2009," Scientometrics, Springer;Akadémiai Kiadó, vol. 98(2), pages 1065-1083, February.
    53. Yadong Luo & Rosalie L Tung, 2007. "International expansion of emerging market enterprises: A springboard perspective," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 38(4), pages 481-498, July.
    54. Dikova, Desislava & Panibratov, Andrei & Veselova, Anna, 2019. "Investment motives, ownership advantages and institutional distance: An examination of Russian cross-border acquisitions," International Business Review, Elsevier, vol. 28(4), pages 625-637.
    55. Li, Jing & Oh, Chang Hoon, 2016. "Research on emerging-market multinational enterprises: Extending Alan Rugman’s critical contributions," International Business Review, Elsevier, vol. 25(3), pages 776-784.
    56. Knutsen Carl Henrik & Rygh Asmund & Hveem Helge, 2011. "Does State Ownership Matter? Institutions' Effect on Foreign Direct Investment Revisited," Business and Politics, De Gruyter, vol. 13(1), pages 1-33, April.
    57. John Child & Suzana B. Rodrigues, 2005. "The Internationalization of Chinese Firms: A Case for Theoretical Extension?," Management and Organization Review, International Association of Chinese Management Research, vol. 1(3), pages 381-410, November.
    58. Lin Cui & Fuming Jiang, 2012. "State ownership effect on firms' FDI ownership decisions under institutional pressure: a study of Chinese outward-investing firms," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 43(3), pages 264-284, April.
    59. Renato Mazzolini, 1980. "European Government-Controlled Enterprises: An Organizational Political View," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 11(1), pages 48-58, March.
    60. Yang, Hongyan & Ru, Jing & Ren, Ting, 2015. "Ownership and M&A Performance in a Transitional Economy: The Case of the Chinese Real Estate Industry," Management and Organization Review, Cambridge University Press, vol. 11(4), pages 715-737, December.
    61. Xie, En & Reddy, K.S. & Liang, Jie, 2017. "Country-specific determinants of cross-border mergers and acquisitions: A comprehensive review and future research directions," Journal of World Business, Elsevier, vol. 52(2), pages 127-183.
    62. 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.
    63. Yigang Pan & Lefa Teng & Atipol Bhanich Supapol & Xiongwen Lu & Dan Huang & Zhennan Wang, 2014. "Firms’ FDI ownership: The influence of government ownership and legislative connections," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 45(8), pages 1029-1043, October.
    64. Nan Zhou, 2018. "Hybrid State-Owned Enterprises and Internationalization: Evidence from Emerging Market Multinationals," Management International Review, Springer, vol. 58(4), pages 605-631, August.
    65. Yadong Luo & Rosalie L Tung, 2018. "A general theory of springboard MNEs," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(2), pages 129-152, February.
    66. Raymond Vernon, 1979. "The International Aspects of State-Owned Enterprises," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 10(3), pages 7-14, September.
    67. 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.
    68. Du, Min & Boateng, Agyenim, 2015. "State ownership, institutional effects and value creation in cross-border mergers & acquisitions by Chinese firms," International Business Review, Elsevier, vol. 24(3), pages 430-442.
    69. Amighini, Alessia A. & Rabellotti, Roberta & Sanfilippo, Marco, 2013. "Do Chinese state-owned and private enterprises differ in their internationalization strategies?," China Economic Review, Elsevier, vol. 27(C), pages 312-325.
    70. Peter J Buckley & Jeremy Clegg & Chengqi Wang, 2002. "The Impact of Inward FDI on the Performance of Chinese Manufacturing Firms," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 33(4), pages 637-655, December.
    71. Anthony P Cannizzaro & Robert J Weiner, 2018. "State ownership and transparency in foreign direct investment," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(2), pages 172-195, February.
    72. Zhu, JianJun (John) & Tse, Caleb H. & Li, Xu, 2019. "Unfolding China’s state-owned corporate empires and mitigating agency hazards: Effects of foreign investments and innovativeness," Journal of World Business, Elsevier, vol. 54(3), pages 191-212.
    73. Ming Hua Li & Lin Cui & Jiangyong Lu, 2014. "Varieties in state capitalism: Outward FDI strategies of central and local state-owned enterprises from emerging economy countries," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 45(8), pages 980-1004, October.
    74. Lebedev, Sergey & Peng, Mike W. & Xie, En & Stevens, Charles E., 2015. "Mergers and acquisitions in and out of emerging economies," Journal of World Business, Elsevier, vol. 50(4), pages 651-662.
    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. Sengupta, Aditi Sarkar & Kleindienst, Ingo & Hutzschenreuter, Thomas, 2023. "Heterogenous internationalization processes of emerging economy MNEs: A review and research agenda," Journal of International Management, Elsevier, vol. 29(3).

    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. Cuervo-Cazurra, Alvaro & Li, Cheng, 2021. "State ownership and internationalization: The advantage and disadvantage of stateness," Journal of World Business, Elsevier, vol. 56(1).
    2. Asmund Rygh & Gabriel R. G. Benito, 2022. "Governmental goals and the international strategies of state-owned multinational enterprises: a conceptual discussion," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 26(4), pages 1155-1181, December.
    3. Alvaro Cuervo-Cazurra & Anna Grosman & William L. Megginson, 2023. "A review of the internationalization of state-owned firms and sovereign wealth funds: Governments’ nonbusiness objectives and discreet power," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(1), pages 78-106, February.
    4. Xie, En & Li, Fanshu & Wu, Zhan & Kumar, Vikas, 2024. "State ownership and Chinese private firms’ OFDI in developed economies," Journal of World Business, Elsevier, vol. 59(3).
    5. 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.
    6. Buckley, Peter J & Cui, Lin & Chen, Liang & Li, Yi & Choi, Yoona, 2023. "Following their predecessors’ journey? A review of EMNE studies and avenues for interdisciplinary inquiry," Journal of World Business, Elsevier, vol. 58(2).
    7. Xu, Kai & Hitt, Michael A. & Brock, David & Pisano, Vincenzo & Huang, Lulu S.R., 2021. "Country institutional environments and international strategy: A review and analysis of the research," Journal of International Management, Elsevier, vol. 27(1).
    8. Birgitte Grøgaard & Asmund Rygh & Gabriel R. G. Benito, 2019. "Bringing corporate governance into internalization theory: State ownership and foreign entry strategies," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(8), pages 1310-1337, October.
    9. 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).
    10. 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).
    11. Yin, Tong & De Propris, Lisa & Jabbour, Liza, 2021. "Assessing the effects of policies on China’s outward foreign direct investment," International Business Review, Elsevier, vol. 30(5).
    12. Vukicevic, Jelena & Fallon, Grahame & Ott, Ursula F., 2021. "A theoretical and empirical investigation into investment activities of technologically-intensive Chinese state-owned enterprises in the UK," International Business Review, Elsevier, vol. 30(1).
    13. Alvaro Cuervo-Cazurra, 2018. "Thanks but no thanks: State-owned multinationals from emerging markets and host-country policies," Journal of International Business Policy, Palgrave Macmillan, vol. 1(3), pages 128-156, December.
    14. Deng, Ziliang & Yan, Jiayan & van Essen, Marc, 2018. "Heterogeneity of political connections and outward foreign direct investment," International Business Review, Elsevier, vol. 27(4), pages 893-903.
    15. Grazia D. Santangelo & Pavlos C. Symeou, 2024. "The internationalization of state-owned enterprises in liberalized markets: the role of home-country pro-market reforms," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(5), pages 638-651, July.
    16. Ren, Monica & Manning, Stephan & Vavilov, Stanislav, 2019. "Does state ownership really matter? The dynamic alignment of China's resource environment and firm internationalization strategies," Journal of International Management, Elsevier, vol. 25(3), pages 1-1.
    17. Gammeltoft, Peter & Cuervo-Cazurra, Alvaro, 2021. "Enriching internationalization process theory: insights from the study of emerging market multinationals," Journal of International Management, Elsevier, vol. 27(3).
    18. Xie, En & Reddy, K.S. & Liang, Jie, 2017. "Country-specific determinants of cross-border mergers and acquisitions: A comprehensive review and future research directions," Journal of World Business, Elsevier, vol. 52(2), pages 127-183.
    19. Ryan W. Tang & Chengli Shu & Kevin Z. Zhou, 2022. "State ownership of Chinese firms and their outward foreign direct investment: Political and economic contingencies," Asia Pacific Journal of Management, Springer, vol. 39(3), pages 1097-1123, September.
    20. Yuanyuan Huang & Lu Shen & Chuang Zhang, 2022. "Home-country government support, the belt and road initiative, and the foreign performance of Chinese state-owned subsidiaries," Asia Pacific Journal of Management, Springer, vol. 39(3), pages 1023-1049, 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:pal:abaman:v:22:y:2023:i:1:d:10.1057_s41291-021-00150-6. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    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.