| Internationalization of State-Owned Multinationals: The role of the home country political regime |
Received:October 09, 2017 Revised:October 09, 2017 |
Key Words: home political regime, state-owned multinationals, emerging economies’ OFDI, mergers & acquisitions |
| Author Name | Affiliation | | Hinrich Voss* | University of Leeds | | Jeremy L. Clegg0 | University of Leeds | | Janja Tardios0 | King's College London |
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Abstract: |
| We offer a theoretical extension and empirical analysis of the home country political regime as a key determinant for the internationalization of state-owned enterprises (SOEs). Asymmetries facing home countries, and international market distortions causes the home political regime to be influential upon the magnitude and direction of state-owned multinational enterprises’ (SOMNE) outward investment. We test our hypotheses on data for M&A deals across 169 countries and 20 years finding that autocratic home countries have a higher propensity to invest overseas via SOEs than democratic home countries, and a higher propensity to invest in other autocratic countries, and in similar industries. |
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