State-Owned Enterprises as Actors: An Institutional Work Framework

Abstract

Although state-owned enterprises (SOEs) are recognized as important economic actors, the literature to date has assumed close state control over SOEs and therefore their passive stance towards institutions. Drawing on the institutional work and historical institutionalism literatures, we challenge this view. We develop a multilevel framework of SOEs top management teams’ (TMTs’) embedded agency, spanning the national macro-institutional level, the meso-level of regimes of state-SOE relations, and sector-specific institutions. We then derive propositions regarding the factors across these multiple levels that shape SOE TMTs’ motivation, resources, and scope for institutional work. This framework allows us to explain the leeway for and likelihood of SOE TMTs’ engagement in institutional work across institutional contexts.

Keywords: Institutional Work, Historical Institutionalism, State-Owned Enterprise (SOE), State Capitalism, Institutions

JEL Classification: L88, L51, L53, L21, L25, H44, G18, G38, F52, F55, O38