We investigate when and how a foreign multinational enterprise by acting as a relational co‐owner helps the internationalization of hybrid state‐owned enterprises. We merge the “liability of stateness” and the “government as strategist” perspectives with an institutional context‐based approach. We claim that the effect of multinational enterprise relational co‐ownership is contingent on the countries' institutional settings. It is positive at lower levels of both institutional coordination (as a measure of variety of capitalism) and government effectiveness. This effect is mitigated as coordination and government effectiveness increase. Further, a comparison between hybrid state‐owned and private‐owned enterprises shows that the magnitude of the contribution by foreign relational co‐owners to internationalization is also moderated by institutional variables.

中文翻译：

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关系所有权，制度背景和国有企业的国际化：何时以及如何成为跨国共同所有人？

我们通过关系合伙人的身份调查外国跨国企业何时以及如何帮助混合型国有企业国际化。我们将“国家责任”和“政府作为战略家”的观点与基于制度背景的方法相结合。我们认为，跨国企业关系共同所有权的影响取决于各国的机构设置。在较低级别的机构协调（作为衡量资本主义多样性的指标）和政府效力方面，这都是积极的。随着协调和政府效力的增强，这种影响得以缓解。进一步，