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The future of the multinational enterprise: An appreciation and an assessment

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  • Strange, Roger

Abstract

This paper provides a succinct summary and assessment of the internalisation theory of the multinational enterprise (MNE). The key insights of the theory will be emphasised and attention will be drawn to some of the subsequent extensions and developments of the theory, thus emphasising its vital and enduring legacy for MNE theorising. The applicability of any theory rests upon the veracity of its assumptions. Internalisation theory makes three key explicit assumptions: that the objective of the MNE is profit maximisation; that control of GVC activities requires common ownership by the MNE; and that knowledge is a public good that is easily transmitted across national borders. The paper assesses how realistic are these assumptions in practice, and what are the implications of their relaxation.

Suggested Citation

  • Strange, Roger, 2026. "The future of the multinational enterprise: An appreciation and an assessment," International Business Review, Elsevier, vol. 35(4).
    • Handle: RePEc:eee:iburev:v:35:y:2026:i:4:s0969593126000429
    DOI: 10.1016/j.ibusrev.2026.102598
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