The Differential Effects of Minority State Ownership Types on the Internationalization of Emerging Market Multinationals from Democratic States

The Differential Effects of Minority State Ownership Types on the Internationalization of... Manag Int Rev https://doi.org/10.1007/s11575-018-0352-4 RESEARCH ARTICLE The Differential Effects of Minority State Ownership Types on the Internationalization of Emerging Market Multinationals from Democratic States 1 2,3 Fernanda Arreola  · Rodrigo Bandeira‑de‑Mello Received: 30 October 2016 / Revised: 30 November 2017 / Accepted: 6 December 2017 © Springer-Verlag GmbH Germany, part of Springer Nature 2018 Abstract We argue that governments use different types of minority state owner - ship in domestic multinationals to balance the provision of public and private goods and maximize political survival in emerging market democracies. Using a sample of Brazilian multinationals, we combine instrumental and fixed-effects regressions with an in-depth case study in order to measure and describe the effects of two types of ownership ties. We show that ownership through state-controlled institu- tional investors has a positive effect on the internationalization level of multination - als, whereas the ownership by state agencies and state-owned enterprises shows an opposite effect. By looking at these effects from the perspective of the political sur - vival of democratic rulers, we contrast our results against the empirical research on multinationals from authoritarian states. Keywords Political ties · Minority state ownership · Emerging market multinationals · Democratic states 1 Introduction The relationship between businesses and the government has been a http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management International Review Springer Journals

The Differential Effects of Minority State Ownership Types on the Internationalization of Emerging Market Multinationals from Democratic States

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Publisher
Springer Berlin Heidelberg
Copyright
Copyright © 2018 by Springer-Verlag GmbH Germany, part of Springer Nature
Subject
Business and Management; Business and Management, general; Organization; Emerging Markets/Globalization; Business Strategy/Leadership; Operations Management
ISSN
0938-8249
eISSN
1861-8901
D.O.I.
10.1007/s11575-018-0352-4
Publisher site
See Article on Publisher Site

Abstract

Manag Int Rev https://doi.org/10.1007/s11575-018-0352-4 RESEARCH ARTICLE The Differential Effects of Minority State Ownership Types on the Internationalization of Emerging Market Multinationals from Democratic States 1 2,3 Fernanda Arreola  · Rodrigo Bandeira‑de‑Mello Received: 30 October 2016 / Revised: 30 November 2017 / Accepted: 6 December 2017 © Springer-Verlag GmbH Germany, part of Springer Nature 2018 Abstract We argue that governments use different types of minority state owner - ship in domestic multinationals to balance the provision of public and private goods and maximize political survival in emerging market democracies. Using a sample of Brazilian multinationals, we combine instrumental and fixed-effects regressions with an in-depth case study in order to measure and describe the effects of two types of ownership ties. We show that ownership through state-controlled institu- tional investors has a positive effect on the internationalization level of multination - als, whereas the ownership by state agencies and state-owned enterprises shows an opposite effect. By looking at these effects from the perspective of the political sur - vival of democratic rulers, we contrast our results against the empirical research on multinationals from authoritarian states. Keywords Political ties · Minority state ownership · Emerging market multinationals · Democratic states 1 Introduction The relationship between businesses and the government has been a

Journal

Management International ReviewSpringer Journals

Published: Jun 4, 2018

References

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