Reflections on the Hymer thesis and the multinational enterprise
Understanding the economic function of the multinational enterprise remains a seminal issue. Almost half a century ago, Stephen Hymer initiated serious scholarly inquiry into the theory of multinational enterprise by positing that domestic firms needed special advantages to go global and succeed. However, he failed to fully unlock the foundations of the posited special advantages. Moreover, he sensed that multinational firms could not exist in a (theoretical) world of perfect competition, and wrongfully concluded that pernicious market power must be associated with the overseas activities of the multinational enterprise. This article examines Hymer's contributions and hints at the need for an (intangible) assets/capabilities based analysis of the multinational enterprise.
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Volume (Year): 15 (2006)
Issue (Month): 2 (April)
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References listed on IDEAS
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- Teece, David J., 1993.
"Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy,"
Elsevier, vol. 22(2), pages 112-113, April.
- Teece, David J., 1986. "Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy," Research Policy, Elsevier, vol. 15(6), pages 285-305, December.
- John H Dunning, 1980. "Towards an Eclectic Theory of International Production: Some Empirical Tests," Journal of International Business Studies, Palgrave Macmillan, vol. 11(1), pages 9-31, March.
- Teece, David J., 1986. "Transactions cost economics and the multinational enterprise An Assessment," Journal of Economic Behavior & Organization, Elsevier, vol. 7(1), pages 21-45, March.
- Bruce Kogut & Udo Zander, 1993. "Knowledge of the Firm and the Evolutionary Theory of the Multinational Corporation," Journal of International Business Studies, Palgrave Macmillan, vol. 24(4), pages 625-645, December.
- Teece, David J, 1985. "Multinational Enterprise, Internal Governance, and Industrial Organization," American Economic Review, American Economic Association, vol. 75(2), pages 233-38, May.
- Hymer, Stephen, 1970. "The Efficiency (Contradictions) of Multinational Corporations," American Economic Review, American Economic Association, vol. 60(2), pages 441-48, May.
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