Corporate Ownership Structure and Internationalization: A Review and a Research Agenda

A principal-agent theoretical approach from financial economics studies offers an important alternative explanation of firm internationalization. Researchers taking such perspective have studied the impact of different forms of ownerships, such as external vs. internal ownership, concentrated vs. dispersed ownership, on various aspects of internationalization (e.g., speed, scope, rhythm, and entry modes). A synthesis is thought to be critical considering the multi-dimensional and multi-level nature of two constructs (ownership and internationalization), cross-disciplinary characteristic of this topic, up-to-now fragmented research and conflict findings. A combination of quantitative (bibliometric analysis) and qualitative analysis (content analysis and narrative synthesis) will be conducted.