The Decentering of the Global Firm
AbstractThis paper describes recent changes in the relationship between firms and nation states. Firms are typically linked to the nation in which they began and are considered to have fixed national identities. While firms have reallocated various activities around the world in response to value creation opportunities, they have largely retained their national identities and their headquarter activities remained bundled in their home countries. This characterization is increasingly tenuous. Firms are redefining their homes by unbundling their headquarters functions and reallocating them opportunistically across nations. A firm's legal home, its financial home and its homes for managerial talent no longer need to be colocated and, consequently, the idea of firms as national actors rooted in their home countries is rapidly becoming outdated. The implications for policy makers and researchers are outlined.
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Bibliographic InfoPaper provided by Harvard Business School in its series Harvard Business School Working Papers with number 09-054.
Length: 25 pages
Date of creation: Sep 2008
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-10-21 (All new papers)
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- Michael P Devereux, 2008.
"Taxation of Outbound Direct Investment: Economic Principles and Tax Policy Considerations,"
Working Papers, Oxford University Centre for Business Taxation
0824, Oxford University Centre for Business Taxation.
- Michael P. Devereux, 2008. "Taxation of outbound direct investment: economic principles and tax policy considerations," Oxford Review of Economic Policy, Oxford University Press, Oxford University Press, vol. 24(4), pages 698-719, winter.
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