Privatization, governance, and survival: MNE investments in private participation projects in emerging economies

Jiang, Yaming; Peng, Mike W.; Yang, Xiaohua; Mutlu, Canan C.

doi:10.1016/j.jwb.2014.10.006

Cited by 76 publications

(85 citation statements)

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“…Rather, they can be penetrated from either direction: (1) SOEs can be privatized, and (2) private firms can be nationalized to become SOEs. The result of these changes is that SOEs today are not necessarily Bstate-owned and state-controlled.^Instead, there can be substantial separation of ownership and control in SOEs in the sense that these firms may become Bstate-owned and manager-controlled^(if managers enjoy significant autonomy) or Bstate-owned but private-controlled^(if control rights are leased to private firms) (Cuervo-Cazurra et al, 2014;Jiang et al, 2015). The line between SOEs and non-SOEs-and among various kinds of SOEs-has blurred considerably (Bruton et al, 2015).…”

Section: Synthesismentioning

confidence: 99%

“…In other words, while most SOEs of the 20th century were the classic, Bstate-owned and state-controlled^firms, in the 21st century tremendous diversity exists among the SOE population (Bruton et al, 2015;CuervoCazurra, Inkpen, Musacchio, & Ramaswamy, 2014;Musacchio, Lazzarini, & Aguilera, 2015). Some of the new SOEs have substantial private participation in management and shareholding (Jiang, Peng, Yang, & Mutlu, 2015). Overall, we argue (1) that given the importance of SOEs in the global economy, theories of the firm in the 21st century can be expanded by incorporating SOEs as a mainstream (not special or marginal) organizational form, and (2) that a focus on SOEs can propel theories of the firm to new and exciting theoretical frontiers.…”

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confidence: 99%

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Theories of the (state-owned) firm

Peng¹,

et al. 2016

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State-owned enterprises (SOEs) contribute approximately 10% of the world's GDP. SOEs at one time were predicted to disappear from the economic landscape of the world, but today SOEs are growing more prevalent in the world economy. The current theories of the firm that form the pillars of the management discipline largely ignore the theoretical differences that SOEs introduce into the conceptualization of the firm. Therefore, we extend four core theories of the firm by incorporating SOEs as a mainstream (not special or marginal) organizational form into these theories. We focus specifically on property rights theory, transaction cost theory, agency theory, and resource-based theory, culminating in a research agenda with 12 testable propositions.

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Section: Synthesismentioning

confidence: 99%

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confidence: 99%

Theories of the (state-owned) firm

Peng¹,

et al. 2016

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“…It is often taken for granted that multinationals entering transition economies possess stronger organizational capabilities, more advanced technologies, and better brand management skills (Jiang, Peng, Yang, & Mutlu, 2015). However, there are signs that over time, some of these advantages may erode because of the rise of local rivals (Bhattacharya & Michael, 2008;Economist Intelligence Unit, 2011;Peng, 2016;Spencer, 2008).…”

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confidence: 99%

Competing in (and out of) transition economies

et al. 2015

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Transition economies have become a new frontier for multinational enterprises (MNEs). This has introduced a highly dynamic competitive environment for domestic firms operating with such less developed institutions, especially those facing the threat of MNEs with superior capabilities. Drawing on the awareness-motivation-capability framework from the competitive dynamics literature, this paper develops a three-round framework that explores the evolution of the dynamic capabilities of domestic and foreign firms and the related competitive dynamics between them in (and eventually out of) transition economies. While previous research tends to focus on MNEs or domestic firms within transition economies, ours is one of the first efforts that systematically model the competitive interaction between them with a longitudinal perspective.

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“…DMNEs may lack the knowledge about the local nonmarket environment, government procedures, and socio-cultural norms (Jiang et al, 2015). Yet, other studies found that MNEs' stronger organizational capabilities, management skills, and strategies give them a competitive advantage over local firms even in the early stages (Jiang et al, 2015;Mutlu et al, 2015).…”

Section: Mne-local Firm Rivalry In Post-socialist Emerging Marketsmentioning

confidence: 99%

Coping with Autocracy: Corporate Political Activity, Institutional Duality, and MNE Local Firm Rivalry During 'Institutional Backsliding'

Sallai

Schnyder

2017

SSRN Journal

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This study contributes to the corporate political activities (CPA) and the "institutional duality" literature by investigating how MNE subsidiaries and local firms develop their CPA in an increasingly politicised environment in an emerging market (EMs). Our longitudinal case study, based on interviews with top-level managers in Hungary, supports the view that institutional duality is not just a constraint for MNEs, but allows even firms from institutionally distant economies to successfully transfer political capabilities to the host context, providing them with competitive advantage over local firms. However, we also find that the value of these capabilities changes as institutional change progresses in our post-socialist case. Therefore institutional duality needs to be understood as a time-dependent phenomenon. Year: 2017No: GPERC #53 GREENWICH POLITICAL ECONOMY RESEARCH CENTRE (GPERC)2

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Privatization, governance, and survival: MNE investments in private participation projects in emerging economies

Cited by 76 publications

References 64 publications

Theories of the (state-owned) firm

Theories of the (state-owned) firm

Competing in (and out of) transition economies

Coping with Autocracy: Corporate Political Activity, Institutional Duality, and MNE Local Firm Rivalry During 'Institutional Backsliding'

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