Resource security: Competition for global resources, strategic intent, and governments as owners

We develop a resource security theory by examining the intent of acquisitions of scarce resources by multinational firms. Results suggest that owners of firms can shape the intent of resource acquisitions. Specifically, state-owned enterprises (SOEs) tend to acquire and pay more for resources for exploration rather than exploitation. This is because SOEs' owners governments are most concerned with securing their country's future. We contribute to the literature by suggesting that ownership influences resource acquisitions, that resource security is of importance to multinational enterprises, and that SOEs invest abroad to safeguard both their own and their home countries' future.