We contribute to the research on internationalization of state-owned enterprises (SOEs) by studying the coevolution of state governance of SOEs and SOEs’ evaluation of international venture opportunities during a shift in dominant institutional logic from state to market logic. Using a novel digital historical method to study Telecom Finland, we argue that as state governance mechanisms change due to a logic shift, rationales underlying SOEs’ internationalization can significantly change and impact SOEs’ geographical and partner preferences. However, a logic shift also affords SOEs significant influence over the formation of new state governance policies under the new dominant logic.

通过研究主导制度逻辑从国家逻辑向市场逻辑的转变，我们研究了国有企业的国家治理的共同演进以及国有企业对国际风险投资机会的评估，从而为国有企业国际化的研究做出了贡献。我们使用一种新颖的数字历史方法研究芬兰电信，认为随着国家治理机制由于逻辑转变而发生变化，国有企业国际化的基本原理可能会大大改变并影响国有企业的地理和合作伙伴偏好。但是，在新的主导逻辑下，逻辑转变也使国有企业对新国家治理政策的形成产生了重大影响。