Corporatization and internationalization of state-owned enterprises: the role of institutional intermediaries

Purpose: The purpose of this paper is to provide a conceptual framework for the intermediation of state-owned enterprises (SOEs). Governments may apply different form of support with the aim of increasing corporatization and internationalization of SOEs. The paper suggests a strategy based on institutional intermediation as the more efficient to drive corporatization and internationalization. Design/methodology/approach: The research selected cases concerning SOEs in different industries in Europe in search of recurrences from a novel theoretical perspective. Among them, a case study concerning the Italian Space Agency explores the development of an institutional intermediary. Findings: Government supports to SOEs appear in different forms and contribute to different results. A typology of the most recurrent forms shows three different types of actions governments have taken to support internationalization of firms. Intermediation seems the most suitable to trigger corporatization and internationalization. Research limitations/implications: The study explores institutional intermediaries as a novel supporting strategy for governments. It proposes a novel concept based upon a single case study. Further research needs to test and verify the institutional intermediaries’ impact drawing on a larger sample and different contexts. Originality/value: So far, few attempts have linked corporatization to globalization. The paper tries to fill this gap between corporatization and internationalization of SOEs. Its value is the provision of a novel view that includes institutional intermediaries as instrumental to governments’ strategy that aims to bridge the two components