We utilize the institution‐based view to study the effect of home institutions on the internationalization of emerging economy firms. We argue that institutional support and institutional hazards co‐exist and can influence firm internationalization simultaneously. However, institutional support has a stronger effect on internationalization than institutional hazards. Further, we argue that when the institutional environment is supportive of the internationalization effort, state ownership provides proximity to institutional resources and thus amplifies the relationship between institutional support and firm internationalization. However, when the institutional environment is perilous to business activities, state ownership increases dependency on the institutional environment and constrains the escape from the domestic market. Results based on the World Bank Enterprises Survey of 9,337 manufacturing firms from 81 emerging economies largely support our arguments.

中文翻译：

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新兴市场公司的机构支持，危害和国际化

我们使用基于机构的观点来研究本土机构对新兴经济公司国际化的影响。我们认为，机构支持和机构危害并存，并且可以同时影响公司的国际化。但是，机构支持对国际化的影响要大于机构危害。此外，我们认为，当制度环境支持国际化努力时，国家所有权提供了与制度资源的接近性，从而扩大了制度支持与牢固国际化之间的关系。但是，当制度环境对商业活动造成威胁时，国家所有权会增加对制度环境的依赖，并限制其逃离国内市场。