State capitalism in international context: Varieties and variations

Wright, Mike; Wood, Geoffrey; Musacchio, Aldo; Okhmatovskiy, Ilya; Grosman, Anna; Doh, Jonathan P.

doi:10.1016/j.jwb.2020.101160

Cited by 102 publications

(61 citation statements)

References 71 publications

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“…The COVID-19 pandemic has been associated with renewed statism, the latter encompassing not only remedial interventions but also a focus on developing industrial policies for sustainable post-pandemic recoveries (c.f. Wright et al, 2021 ). As part of the post-pandemic reconstruction, it may be desirable for governments to provide incentives for firms to develop digital skills and capabilities, and to improve national physical digital infrastructures.…”

Section: Discussionmentioning

confidence: 99%

“…However, in considering the themes and issues raised by this study, it is worth taking further account of contextual effects. A large proportion of government-promoted digitilization has been driven by private firms enjoying close ties with governments, and who have used this opportunity to capture significant amounts of data and shore up monopolistic or oligopolistic market positions (see Wright et al, 2021 ). Hence, if there is more knowledge about what can be done digitally, there is little sign that this will drive broader and beneficial usage of digitalization across the wider economy, or improve the competitive position of firms at large.…”

Section: Discussionmentioning

confidence: 99%

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COVID-19 and digitalization: The great acceleration

Amankwah‐Amoah¹,

Khan

Wood

et al. 2021

Journal of Business Research

Self Cite

532

182

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Inspired by burgeoning scholarly interest in the role of digitalization in the COVID-19 pandemic, this paper examines how the COVID-19 pandemic is driving or constraining the digitalization of businesses around the globe. We contend that COVID‐19 is “ the great accelerator ” in fast-tracking the existing global trend towards embracing modern emerging technologies ushering in transformations in lifestyle, work patterns, and business strategies. Thus, COVID-19 has evolved to be a kind of “ catalyst ” for the adoption and increasing use of digitalization in work organization and the office, alongside presenting foreseen and unforeseen opportunities, challenges, and costs—leading to negative and positive feedback loops. In this article, we develop and advance a conceptual model by linking the different forces for and against digitalization in response to the pandemic. Our analysis indicates that adoption of emerging technologies may be hindered by vested external interests, nostalgia, and employer opportunism, as well as negative effects on employee well-being that undermine productivity, work–life balance, and future of work. Whilst digitalization may bring new opportunities, the process imparts risks that may be hard to mitigate or prepare for. Finally, we draw out the wider theoretical and practical implications of our analysis.

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Section: Discussionmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

COVID-19 and digitalization: The great acceleration

Amankwah‐Amoah¹,

Khan

Wood

et al. 2021

Journal of Business Research

Self Cite

532

182

View full text Add to dashboard Cite

show abstract

“…The pandemic has also built upon and enhanced an existing trend that saw a growing role for the state in the economy. Since the 2008–2009 global financial crisis, states have been bailing out failed firms and acquiring others, while also deploying new consumption and production subsidies; as a result, they have become more indebted (Bremmer, 2009 , 2020 ; Kaufman, 2020 ; Wright, Wood, Musacchio, Okhmatovskiy, Grosman, & Doh, 2021 ). The idea that the state is the defender of national interest against the perils of globalization has become more popular because of the pandemic, and has been promoted by populists, intellectuals, and business leaders (Delios, Perchthold & Capri, 2021 ; Hitt, Holmes, & Arregle, 2021 ).…”

Section: The Enduring Consequences Of the Pandemic That Will Compromise Globalizationmentioning

confidence: 99%

“…A large state does not per se entail a return to protectionism, though the two are often interlinked. In some countries, notably France, Singapore, and Norway, a large state has never ceased to be a central feature of the economy and society, and has not impeded their integration in the world economy (Wright et al, 2021 ). Yet, the most protectionist countries like Cuba and North Korea also feature a highly interventionist state.…”

Section: The Enduring Consequences Of the Pandemic That Will Compromise Globalizationmentioning

confidence: 99%

Why the world economy needs, but will not get, more globalization in the post-COVID-19 decade

2021

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Contractor argues that the coronavirus outbreak only had temporary effects on the global economy, and that post COVID-19 globalization will resume. We posit that the pandemic will have significant long-lasting effects on globalization. Our arguments are grounded in three observations. First, the pandemic has increased inter- and intra-country inequalities and has reversed trends in poverty reduction, which will intensify anti-globalization sentiments in the future. Second, the pandemic has fueled populism, nationalism, and the return of the interventionist state in the economy, which has paved the way for a rise in protectionism. Third, governmental responses to the COVID-19 crisis have undermined the multilateral institutions that have thus far facilitated globalization. These forces have resulted in growing global uncertainty and higher costs in international transactions. We argue that global value chains’ reconfiguration will result in a less globalized, and more regionally fragmented world economy. We conclude by suggesting two fertile opportunities for international business scholars: researching commitment failure in international transactions and studying resilience, as illustrative examples of lines of inquiry that can help explain why this latest pandemic will compromise trends in globalization that have dominated the world economy for a long time.

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“…The internationalization of state-owned enterprises (SOEs) has emerged as a striking feature of international business (IB) over the last decade (Cuervo-Cazurra et al, 2014;Wright et al, 2021). State-owned multinational enterprises (SOMNEs) originate from a wide variety of advanced and emerging economies, and examples can found in most industries and sectors (Kowalski, 2020;UNCTAD, 2017).…”

Section: Introductionmentioning

confidence: 99%

Governmental goals and the international strategies of state-owned multinational enterprises: a conceptual discussion

Rygh

Benito

2021

J Manag Gov

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State owned multinational enterprises (SOMNEs) have received extensive attention in recent research in international business and corporate governance, which demonstrates effects of state ownership on a range of international strategic decisions such as the degree of internationalization, foreign entry modes, and host country location choices. Such effects are explained by factors such as SOMNEs’ non-financial goals, corporate governance, and institutional pressures. However, results are mixed and context-dependent, and overall we still have an incomplete understanding of what governments aim to achieve through SOMNEs, and how these goals in turn lead to different international strategies. This conceptual article aims to explore how specific government goals may affect international strategies. We provide a more fine-grained view on SOMNE financial and non-financial goals and link them to key international strategic decisions such as the degree of internationalization, entry and establishment modes, and host country location choice. We review and extend previous literature and identify novel theoretical arguments, leading to an extensive set of propositions. We also sketch ideas for empirical studies of SOMNE objectives.

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State capitalism in international context: Varieties and variations

Cited by 102 publications

References 71 publications

COVID-19 and digitalization: The great acceleration

COVID-19 and digitalization: The great acceleration

Why the world economy needs, but will not get, more globalization in the post-COVID-19 decade

Governmental goals and the international strategies of state-owned multinational enterprises: a conceptual discussion

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