State-owned companies are typically trapped in a bureaucratic system that means they expe-rience difficulties undertaking changes and adapting to environmental changes. Whenever these com-panies attempt a strategic maneuver, a series of complex bureaucratic procedures must be followed. As a...

This study examines the international alliance activities of state-owned enterprises (SOEs). We find that country-level political and economic factors (e.g., autocracy, foreign ownership restrictions, foreign currency reserve, and industry composition) are the main determinants of SOEs’...