earticle

영어

The study examines the relationship between ownership structure of Chinese listed firms and the degree of internationalization using five year longitudinal data of 300 firms during 2009-2013. The study finds that there is U shaped relationship between ownership of controlling shareholders and the degree of firms' internationalization. The degree of firms' internationalization declines, and then increase as ownership by the controlling shareholders rises. The study also show that there is positive relationship between foreign corporate ownership and the degree of firms' internationalization, implying that foreign strategic investors may support focal firms' internationalization by providing the critical resources for them to pursue internationalization such as their business networks overseas and market knowledge and so on. Overall the findings suggest that ownership structure of Chinese listed firms is a structural determinant influencing the degree of firms' internationalization.