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Series:   Elements in Reinventing Capitalism

State-Owned Enterprises as Institutional Actors in Contemporary Capitalism and Beyond

Expected online publication date:  03 February 2025

Olivier Butzbach ,
Douglas B. Fuller ,
Gerhard Schnyder  and
Luda Svystunova
Olivier Butzbach
Affiliation:
University of Campania 'Luigi Vanvitelli' (Italy)
Douglas B. Fuller
Affiliation:
Copenhagen Business School
Gerhard Schnyder
Affiliation:
Loughborough University
Luda Svystunova
Affiliation:
Loughborough University

Summary

This Element qualifies the common understanding of State-Owned Enterprises (SOEs) as mere instruments of the state and instead conceive of them as economic actors in their own right. Specifically, SOE top management teams have leeway to diverge from goals that the state they are owned by pursues. Through 'institutional work' they can even actively shape the institutional framework in which they are embedded. However, the extent of SOE top management teams' leeway for agency is determined by macro- (country), meso- (State–SOE governance system), and industry-level factors. These factors, in turn, vary from country to country and over time. In other words, SOE agency is 'embedded agency.' Combining institutional work and historical institutionalism analytic lenses, this Element presents a multilevel model to understand embedded agency of top management teams of SOEs in contemporary capitalism. The model adds an important element to our understanding of the 'new state capitalism.'
Type
Element
Information
Series: Elements in Reinventing Capitalism
Online ISBN: 9781009474115
Publisher: Cambridge University Press

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State-Owned Enterprises as Institutional Actors in Contemporary Capitalism and Beyond
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State-Owned Enterprises as Institutional Actors in Contemporary Capitalism and Beyond
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State-Owned Enterprises as Institutional Actors in Contemporary Capitalism and Beyond
Available formats No formats are currently available for this content.
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