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Strategies for firm success in the face of government influence 1

Part 1 of 2
Published on April 30, 2026   9 min

A selection of talks on Finance, Accounting & Economics

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0:00
Hello, everyone. I'm Prof. Anna Grosman. I teach at Loughborough University, and today I will talk about state capitalism. The lecture of today, within that big umbrella of topic is about the strategies for firm success in the face of state capitalism; in the face of government influence.
0:23
First, I wanted to define state capitalism. What is it as an economic system? It is an ambiguous concept that means many things to many people at different times. I use this definition from one of my publications, which says that, "State capitalism can be defined as the state becoming an economic actor." It means that the state takes a big involvement in the economy, in the business and it takes different shapes and forms. For example, state can be an owner of economic entities such as State-Owned Enterprises or Sovereign Wealth Funds. Usually, it's when the state looks at economic activities, and it becomes intertwined with the business. State capitalism can manifest in a variety of forms, and I use another definition which is a bit broader, where state capitalism is defined beyond ownership of economic entities. State capitalism is an economic system in which the state uses various tools for proactive intervention in economic production and the functioning of markets. That means that state capitalism can manifest not only through ownership of economic entities such as SOEs or SWFs, but also through a variety of other tools and mechanisms, such as industrial policy, subsidies, investments, and perhaps, more informal mechanisms such as political connections, the promotion of big private companies abroad. The list is endless, and we will focus on some of the prominent tools in today's lecture.

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