Dear friends and colleagues, 

Please join us for the conference on State Capitalism and the Firm on August 11 at Northeastern University. This is open to all. Please register at:

Best wishes, Alvaro 

State Capitalism and the Firm

Sunday, 11th August 2019, 08:30-19:00


Northeastern University, Raytheon Amphitheater at the Egan Research Center

120 Forsyth St, Boston, MA 02115



This mini-conference organized by Northeastern University, Loughborough University London, and Brandeis University, brings together scholars from a variety of academic disciplines to explore how state capitalism works today. It will examine new forms of state capitalism that often cross the boundaries that traditionally separated state enterprises and private businesses.


This separation was reflected in prior research focused on the antecedents and consequences of nationalization and privatization of companies. However, the distinction between state and private, between political logic and market logic becomes blurry when we consider some of the companies that raised to prominence during the last 10-20 years. Such hybrid organizations can be found all over the world, but they play a particularly prominent role in emerging economies.


During this mini-conference, topics will be addressed, such as the internationalization of state-owned firms, state-owned business groups, investment strategies of sovereign wealth funds, the effect of state ownership on innovation patterns, and several others.







Welcome from the organizers: Alvaro Cuervo-Cazurra, Northeastern University; Anna Grosman, Loughborough University London; Aldo Musacchio, Brandeis University; and Ilya Okhmatovskiy, Nova School of Business and Economics


Keynote speakers


William L. Megginson, Professor & Price Chair, Price College of Business, University of Oklahoma


Yasheng Huang, Epoch Foundation Professor of International Management, MIT Sloan School of Management, Massachusetts Institute of Technology




Ruth V. Aguilera, Distinguished Professor, International Business and Strategy, D’Amore-McKim School of Business, Northeastern University


Christopher Marquis, Samuel C. Johnson Professor in Sustainable Global Enterprise, SC Johnson College of Business, Cornell University




Industry panel


Aldo Musacchio, Brandeis University: The role and impact of state-owned development banks: Theory and cases across the globe,

Daniel Grimaldi, Leading Economist and Impact Evaluator, BNDES, the Brazilian Development Bank




OUP Handbook on State Capitalism and the Firm


Geoff Wood, University of Western Ontario; Alvaro Cuervo-Cazurra, Northeastern University; Pei Sun, University of Manchester; Ilya Okhmatovskiy, Nova SBE; and Anna Grosman, Loughborough University London: Welcome from the OUP Editors


Saul Estrin, London School of Economics and Aleksandra Gregorič, Copenhagen Business School: The emergence and impact of state capitalism


Xiuping Hua, Nottingham University Business School China: The state as a facilitator of innovation and technology upgrading


Alvaro Cuervo-Cazurra, Northeastern University: State-owned multinationals


Gerhard Schnyder, Loughborough University London and Luda Svystunova, Loughborough University London: State capitalism and corporate social responsibility




Ilya Okhmatovskiy, Nova SBE; Anna Grosman, Loughborough University London, and Pei Sun, University of Manchester: What is hybrid about corporate governance of SOEs?


Tomasz Mickiewicz, Aston University: State capitalism in Hungary and Poland




Richard W. Carney: State Capitalism in East Asia, China Europe International Business School


Satoshi Mizobata, Kyoto University: State capitalism in Russia and CIS


Rodrigo Bandeira de Mello, Merrimack College: State capitalism in Latin America




Geoff Wood, University of Western Ontario; Alvaro Cuervo-Cazurra, Northeastern University; Pei Sun, University of Manchester; Ilya Okhmatovskiy, Nova SBE; and Anna Grosman, Loughborough University London: Conclusions


For information on the conference and to register, please visit:


For information on the conference, please contact the organizers:

Alvaro Cuervo-Cazurra, Northeastern University, [log in to unmask]

Anna Grosman, Loughborough University London, [log in to unmask]

Aldo Musacchio, Brandeis University, [log in to unmask]

Ilya Okhmatovskiy, Nova School of Business and Economics, [log in to unmask]


For information on the logistics, please contact:

Magda L. Drici, Northeastern University, D'Amore McKim School of Business, [log in to unmask]



Professor of Global Strategy, Northeastern University

Co-editor, Global Strategy Journal

[log in to unmask]. +1-617-373-6568.  


Recent articles:

Clarifying the relationships between institutions and global strategy, Global Strategy Journal

Frugality based advantage, Long Range Planning

Pro-market institutions and global strategy: The pendulum of pro-market reforms and reversals, Journal of International Business Studies

State ownership and international expansion: The S‐Curve relationship, Global Strategy Journal


Recent books: 

Mexican Multinationals: Building Multinationals in Emerging Markets. Cambridge University Press

State-Owned Multinationals: Governments in Global Business. Palgrave  


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