Are State Owned Enterprises Home biased? A Cross-Country Institutional Perspective

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Abstract: State owned enterprises (SOEs) play different roles in different societies and the internationalization of SOEs is driven by each country’s economic institutions. In particular, national institutions shape the ability of civil society and minority shareholders to monitor and influence SOEs strategies. We argue that if such controls are weak, SOEs are likely to pursue non-benevolent strategies, which tend to be predominantly domestic. On the other hand, with more effective controls, this domestic bias tends to be less pronounced, and SOEs will be more energetic in their internationalization strategies. Following Williamson, we operationalize the controls over firms by considering a hierarchy of institutions: informal, formal and governance institutions. Based on a matched sample of 153 SOEs and POEs from some 40 different countries, we confirm our hypotheses. Our findings suggest that if home country institutions enable effective control, the internationalization strategies of SOEs and POEs converge. These findings lead to a broader debate over the role of SOEs in different societies.


Tuesday, January 28, 2014


10:30am – 12:00pm Presentation & QA
Light refreshments will be provided


Segal Graduate School
500 Granville Street, Vancouver
Room 2800 (2nd floor)




Registration is now closed.


Please contact for inquiries.
DrMeyer_Photo Dr. Klaus E. Meyer joined China Europe International Business School (CEIBS) in 2011 as Professor of Strategy and International Business. He is also holding an honorary position of Adjunct Professor at Copenhagen Business School in Denmark. He previously taught at the University of Bath, University of Reading, Copenhagen Business School, Hong Kong University of Science and Technology, as well as Cheng-chi University in Taipei. He graduated with a PhD from London Business School.Dr. Meyer’s current research focuses on strategies of multinational enterprises in emerging economies. He is in particular interested in how firms adapt their business strategies to the specific conditions prevailing in each emerging economy. Recent research investigates multinational enterprises originating from emerging economies such as China, focusing in particular on how the home country context shapes the strategies of international growth. His work has been published in over 50 scholarly articles in journals such as Journal of International Business Studies and Strategic Management Journal, and he authored five books.

Dr. Meyer has been elected Fellow of the Academy of International Business (AIB), and currently also is the Vice President of the AIB with responsibility for their 2014 annual conference in Vancouver Canada. Moreover, he serves as Senior Editor of the Asia Pacific Journal of Management, and as Consulting Editor of the Journal of International Business Studies.