Top management team’s formal network and international expansion of Chinese firms: The moderating role of state ownership and political ties

This article explores the role of formal network centrality top management teams (TMT) for foreign expansion, looking at case Chinese firms. The former is defined by degree to which managers are connected with TMTs other firms in ways, through service as independent board members. We explore boundary conditions, comparing state ownership political ties. analysis a panel data 489 expanding 72 developed and developing host markets period 2000–2012 confirms that facilitates internationalization. found TMT had stronger effect on internationalization than emerging markets. Conversely, positive moderating latter ties negative ones. literature comparative institutional suggests more important economies, informal However, and/or links may be value internationalizing into markets, where balance diplomatic power skewed China’s favor.