State ownership, political ideology, and firm performance around the world

Ruth V. Aguilera, Patricio Duran, Pursey P.M.A.R. Heugens, Steve Sauerwald, Roxana Turturea, Marc Van Essen

Research output: Contribution to journalArticleScientificpeer-review

6 Citations (Scopus)

Abstract

It is often taken as a stylized fact that state ownership harms the financial performance of firms. Yet we show that this relationship varies greatly across national contexts. We argue that the political ideology of the government, both independently and in conjunction with political institutions (state capacity and political constraint), affects this relationship. We test our hypotheses using meta-analytical techniques on an international sample spanning 53 years and 131 countries. Our research sheds further light on the state ownership – firm performance relationship by highlighting the role of the political ideology of the government, and its interactions with political institutions.
Original languageEnglish
Article number101113
Number of pages18
JournalJournal of World Business
Volume56
Issue number1
Early online date5 Jul 2020
DOIs
Publication statusPublished - Jan 2021
MoE publication typeA1 Journal article-refereed

Keywords

  • state ownership
  • political ideology

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