State owned enterprises as multinational firms: the case of two power transmission firms in Canada and in India

How do state owned enterprises behave when they have to perform as multinational firms? Do they respect their original mission or do they act like private multinational firms? The analysis of Hydro-Québec and Power Grid Corporation of India Limited, two companies transmitting electricity over the border and doing consultancy and investment in distant countries, shows the impact of share ownership and the nature of the top executives, as well as the role of the political environment and of the opportunities, taken or missed, in the process. The application of an analytical model reveals the complexity of such an unusual situation.