Purpose

In this exploratory multiple case study, we aim to compare the internationalization of two state-owned enterprises (SOEs) owned by subnational governments with three owned by central governments in Latin America. This study provides a contextualized answer to the question: What are the differences in the internationalization of subnationally owned SOEs compared to central SOEs? This study finds that the speed and diversification of these two types of SOEs’ internationalization differ because they have a different expansion logic. Subnationally owned SOEs have a gradual and diversified expansion following market rules. Central government’s SOEs are specialized and take more drastic steps in their internationalization, which relates to non-market factors.

Design/methodology/approach

This study builds an exploratory qualitative comparative case analysis that uses multiple sources of data and information to develop a comprehensive understanding of SOEs through process tracing.

Findings

The study posits some assumptions that are confirmed in the case analysis. This study finds relevant differences between sub-national (SSOEs) and central authority (CSOEs’) strategies. SSOEs’ fewer resources and needs to increase income push them to follow a gradual market-driven internationalization and to diversify abroad. CSOEs non-gradual growth is justified by non-market factors (i.e. national politics). CSOEs do not diversify abroad due to the broader set of constituencies they have to face.

Research limitations/implications

Given the exploratory comparative case study of this research, the findings are bounded by the particularities of the cases and their region (Latin America). This paper and its findings can be useful for theory building but it does not claim any generalization capacity.

Originality/value

This study adds complexity into the SOEs phenomenon by distinguishing between different types of SOEs. This paper contributes to the study of subnational phenomena and its effect in SOEs’ internationalization process, which is an understudied topic. To the authors’ best knowledge, this is among the first studies that explore subnational SOEs in Latin America.

中文翻译：

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地方和中央企业国际化的比较分析：来自拉丁美洲的证据

目的

在这个探索性的多案例研究中，我们旨在比较拉丁美洲地方政府拥有的两家国有企业 (SOE) 与中央政府拥有的三家国有企业 (SOE) 的国际化情况。本研究针对以下问题提供了一个背景化的答案：与中央国有企业相比，地方国有企业的国际化有何不同？本研究发现，这两类国有企业国际化的速度和多元化程度不同，是因为它们的扩张逻辑不同。地方国有企业按照市场规律逐步多元化扩张。中央国有企业专业化，国际化步伐较快，这与非市场因素有关。

设计/方法/方法

本研究建立了一个探索性的定性比较案例分析，该分析使用多种数据和信息来源，通过过程跟踪来全面了解国有企业。

发现

该研究提出了一些在案例分析中得到证实的假设。本研究发现了地方（SSOE）和中央政府（CSOE）战略之间的相关差异。SSOEs 资源较少，需要增加收入，这促使它们逐步走向市场驱动的国际化，并在国外实现多元化。非市场因素（即国家政治）证明了国有企业非渐进式增长的合理性。由于必须面对更广泛的选民群体，中央企业不会在海外实现多元化。

研究限制/影响

鉴于本研究的探索性比较案例研究，研究结果受到案例及其地区（拉丁美洲）的特殊性的限制。这篇论文及其发现对于理论构建很有用，但它并没有声称具有任何泛化能力。

原创性/价值

本研究通过区分不同类型的国有企业，增加了国有企业现象的复杂性。本文有助于研究地方现象及其对国有企业国际化进程的影响，这是一个未被充分研究的课题。据作者所知，这是探索拉丁美洲地方国有企业的首批研究之一。