Corporatization and internationalization of state-owned enterprises: the role of institutional intermediaries.

Purpose – The paper aims to provide a conceptual framework for driving State-owned enterprises trough corporatization by a strategy based on institutional intermediaries. Governments may apply intermediaries as strategic tool with the aim of increasing corporatization and internationalization of State-owned enterprises. Design/methodology/approach – A collection of case studies allows the exploration of recurrences from a novel theoretical perspective. The research selected cases concerning State-owned enterprises in different industries from six European countries. Findings – Institutional intermediaries appear in different forms and contribute to different results. A typology of the most recurrent forms shows three different types of actions governments have taken to support internationalization of firms. Research limitations/implications – The study explores novel concepts upon a limited sample. Further research needs to test and verify the extent of institutional intermediaries’ impact drawing on a larger sample, as well as comparing with other industries, countries, regulatory settings, and time span. Originality/value –So far, few attempts have linked corporatization to globalization. The paper tries to fill this gap between corporatization and internationalization of State-owned enterprises. Its value is in the provision of a novel view that includes institutional intermediaries as instrumental to governments’ strategy that aims to bridge the two components. Keywords: Internationalization; State-owned enterprises; privatization; institutional intermediations; governments as strategists; corporatization; industrial policy; globalization