The internationalization paradox: Untangling dependence in multinational state hybrids |
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| Institution: | 1. FUMEC University, Av. Afonso Pena 3880, Cruzeiro, 30130-009, Belo Horizonte, Brazil;2. Rotterdam School of Management, The Netherlands;3. NUS Business School, National University of Singapore, Department of Strategy and Policy, Mochtar Riady Building, #6-51, 15 Kent Ridge Drive, 119245, Singapore;1. Newcastle University London, Newcastle University, 102 Middlesex Street, London, E1 7EZ, United Kingdom;2. Portsmouth Business School, University of Portsmouth, Portland Street, Portsmouth, Hampshire, PO1 3DE, United Kingdom;1. WU Vienna, Welthandelsplatz 1, 1020 Vienna, Austria;2. Department of Management and International Business, College of Business, Florida International University, Miami, FL 33199, United States;3. Department of Strategy, Innnovation, and Entrepreneurship KU Leuven Warmoesberg 26 1000 Brussels, Belgium;1. Dipartimento di Scienze economiche e aziendali, Università di Pavia, Via S. Felice, 5 − Pavia, 27100 Italy;2. Dipartimento di Scienze dell’economia e della gestione aziendale, Università Cattolica del Sacro Cuore, Milano 20123, Italy;3. Dipartimento di Scienze Economiche, Università di Bologna, Bologna, 40125, Italy;4. Adam Smith Business School, University of Glasgow, Glasgow G12 8QQ Scotland, United Kingdom;1. School of Business, Trinity University,One Trinity Place, San Antonio, Texas, TX78212, USA;2. Department of Management Science and Statistics, College of Business, University of Texas at San Antonio, One UTSA Circle, San Antonio, Texas, TX78249, USA |
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| Abstract: | We investigate the internationalization of firms with ownership links to the state from the perspective of resource dependence theory, and argue that internationalization can reduce dependence on the home country government, but, paradoxically, this strategy also creates additional dependences, shifts the power balance, and provides rationales for increasing government control. Utilizing a ‘critical’ case – Vale from Brazil – we analyze different conditions that enable greater autonomy for and greater government control over multinational state hybrids in the context of internationalization. We contribute to the international business literature by generating a novel framework that considers the effects of market trends (extractive industry) and non-market trends (home country policies) on the internationalization of state hybrids. |
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| Keywords: | Internationalization Resource dependence Extractive industry State hybrid SOE Non-market strategy |
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