Abstract
This chapter considers the proposition that the behaviour of Chinese multinational corporations is conditioned by the national characteristics of state structures and state–business relations. It does so by looking into the case of the Chinese oil industry. It argues that the multinational corporate behaviour in corporate governance and overseas investment in the Chinese oil industry can be explained by the institutional structure of state economic and political agencies in which the Chinese state-owned oil companies are embedded and by which they are regulated as well as by the organisational configuration of business actors in which they compete and cooperate.
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