TY - JOUR

T1 - The omnipresence of the state and its effect on the internationalization of companies: The Russian variety of state capitalism

AU - Клишевич, Дарья Сергеевна

AU - Панибратов, Андрей Юрьевич

PY - 2024/8/1

Y1 - 2024/8/1

N2 - Abstract State capitalism has been a growing phenomenon since the early 2010s. This is especially the case in emerging markets, in which the state plays a viable and strong role. As it has become particularly prominent due to the international activities of stateowned enterprises (SOEs), state capitalism has been widely discussed in the international business literature. Scholars have emphasized the need to explore the various kinds of state capitalism and to advance our knowledge of its influence on the international activities of firms, beyond that it exerts on SOEs. We proposed the concept of state capitalism as embodied by an omnipresent state that influences the internationalization of both state-owned and private firms. Integrating institutional theory and agency theory, we examined the international activities of Russian SOEs and private firms over the 2013-2018 period and found state ownership and political connections to be the two mechanisms by which state capitalism in Russia can negatively affect the internationalization activities of Russian firms.

AB - Abstract State capitalism has been a growing phenomenon since the early 2010s. This is especially the case in emerging markets, in which the state plays a viable and strong role. As it has become particularly prominent due to the international activities of stateowned enterprises (SOEs), state capitalism has been widely discussed in the international business literature. Scholars have emphasized the need to explore the various kinds of state capitalism and to advance our knowledge of its influence on the international activities of firms, beyond that it exerts on SOEs. We proposed the concept of state capitalism as embodied by an omnipresent state that influences the internationalization of both state-owned and private firms. Integrating institutional theory and agency theory, we examined the international activities of Russian SOEs and private firms over the 2013-2018 period and found state ownership and political connections to be the two mechanisms by which state capitalism in Russia can negatively affect the internationalization activities of Russian firms.

KW - Internationalization

KW - Political connections

KW - Russia

KW - State capitalism

KW - State-owned enterprise

UR - https://www.mendeley.com/catalogue/4ad22f19-2668-3436-b98a-3382a983836e/

U2 - 10.1016/j.intman.2024.101154

DO - 10.1016/j.intman.2024.101154

M3 - Article

VL - 30

JO - Journal of International Management

JF - Journal of International Management

SN - 1075-4253

IS - 4

M1 - 101154

ER -