Ownership Structure and the Internationalization Process of Publicly-listed Companies in Poland

Purpose: The purpose of this paper is to investigate the relationship between ownership structure and the level and scope of internationalization of Polish listed companies. Methodology: The analysis is based on quantitative methods (regression analysis). Findings: The study revealed that there is no statistically signifi cant relationship between concentration of ownership and the internationalization of companies. However, there is a relationship between ownership category and internationalization. Research implications: The research results suggest that the organizational context (and especially ownership structure) should be taken into account in resource-based theories of internationalization. Originality: The paper makes three important contributions in the fi eld of International Business. Firstly, it incorporates the organizational context into the resource-based models of internationalization, thus contributing to the debate on the role of ownership structure in the internationalization strategy (Tihanyi et al., 2003) by showing the specifi c context of an emerging economy at an early stage of its investment development path. Secondly, it is probably the fi rst attempt to analyze the relationship between ownership structure and the internationalization of Polish companies. Thirdly, it presents the results of one of the few research studies conducted in Central and Eastern Europe regarding the specifi c population of publicly-listed companies.