New varieties of state capitalism: Strategic and governance implications : strategic and governance implications
Musacchio, Aldo
New varieties of state capitalism: Strategic and governance implications : strategic and governance implications Aldo Musacchio, Sergio G. Lazzarini, & Ruth V. Aguilera. - Academy of Management Perspectives, 2015. - 115-131 pages. - Academy of Management perspectives, 2015-02, Vol.29 (1), p.115-131
We analyze the new varieties of state capitalism in the 21st century and explore their implications in terms of both strategic and governance outcomes. We begin by discussing how the current theoretical perspectives conceptualize state-owned enterprises' strategic behavior. Then we introduce a stylized distinction between four broad, new varieties of state capitalism—wholly owned state-owned enterprises, the state as a majority investor, the state as a minority investor, and the state as a strategic supporter of specific sectors—and survey each type within the different theoretical perspectives. Last, we examine firm performance for each type of state capitalism relative to private firms and contingent on country-level institutional contingencies. This article contributes to existing debates on comparative capitalisms and the current role of the state.
1558-9080 1943-4529
MSc International Business
Capital market--Government policy
Economic policy
Capitalism
Strategic planning
New varieties of state capitalism: Strategic and governance implications : strategic and governance implications Aldo Musacchio, Sergio G. Lazzarini, & Ruth V. Aguilera. - Academy of Management Perspectives, 2015. - 115-131 pages. - Academy of Management perspectives, 2015-02, Vol.29 (1), p.115-131
We analyze the new varieties of state capitalism in the 21st century and explore their implications in terms of both strategic and governance outcomes. We begin by discussing how the current theoretical perspectives conceptualize state-owned enterprises' strategic behavior. Then we introduce a stylized distinction between four broad, new varieties of state capitalism—wholly owned state-owned enterprises, the state as a majority investor, the state as a minority investor, and the state as a strategic supporter of specific sectors—and survey each type within the different theoretical perspectives. Last, we examine firm performance for each type of state capitalism relative to private firms and contingent on country-level institutional contingencies. This article contributes to existing debates on comparative capitalisms and the current role of the state.
1558-9080 1943-4529
MSc International Business
Capital market--Government policy
Economic policy
Capitalism
Strategic planning
