[Recommended]Assess the strengths and weaknesses of the internalization explanation of the existence of the multinational corporation. Comment on Hymer’s explanation of international direct investment as a means of establishing and exploiting positions of market power.

    Assignment Titles:   Assess the strengths and weaknesses of the internalization explanation of the existence of the multinational corporation. Comment on Hymer’s explanation…

 
 
Assignment Titles:
 

Assess the strengths and weaknesses of the internalization explanation of the existence of the multinational corporation. Comment on Hymer’s explanation of international direct investment as a means of establishing and exploiting positions of market power.
Examine the usefulness of the eclectic paradigm as a framework for combining and relating alternative theories of international business, and in coping with changes over time in the practice of international business.
Examine the merits of analysing the multinational firm as an evolutionary and learning entity which progresses in interaction with other firms and institutions.
Evaluate theoretical frameworks underpinning outward FDI by MNEs from emerging economies.
Assess the reasons why location has again become a critical issue in the theory of international business.
Examine how the theory of the strategy and organization of the multinational corporation can be used to balance pressures to achieve global efficiency competitiveness flexibility responsiveness and worldwide innovation and learning.
Examine the extent to which inter-firm alliances or international mergers and acquisitions may arise for reasons other than increasing market power or reducing transaction costs. Have these other factors become more important in recent years, and if so, how and why?
Assess the applicability and relevance of theories of international business to understanding the increasing international dimension of Microfinance industry.
Evaluate what is new in recent international business research and how much that is sometimes claimed to be new may be simply ‘old wine in new bottles’. Assess how well theories of international business have been adapted or developed as global business has evolved through to the present day.

 
 
 
 
Assignment Details and Instructions.
An academic paper style this should not exceed 3000 words of text (the bibliography is not part of this word count). The title for the academic paper must be chosen from the lecture topics (listed above) and must demonstrate an understanding of the issues raised in the relevant lecture, and make reference to the readings set for that topic. The academic paper must answer the question set, with reference to the key themes of the unit articulated in the lectures and readings. The assignment should demonstrate an appreciation of how the answer to a specific question on a given topic fits into the broader context of the topic.  Assignment should answer the question as to;
(i)         incorporate critical understanding derived from all the literature for the relevant topic
(ii)        incorporate references and insights to other relevant literature highlighting the general themes in that topic
iii)          demonstrate the limitations, and complementarities of the relevant literature in the
topic, and

iv) highlight the future direction of the debate within those relevant topics and the implications for future research

 
 
Early Career/ World Class Professional Skills (PLOs) being assessed or developed/assessed.
 
LO1. Critically evaluate the important features of the firm’s strategy in the context of international business.
LO2. Critically examine data and information and evaluate its relevance for the
assessment of firms’ international business strategy and management.
LO4. Construct cogent arguments, making full use of the literature, and drawing on supporting evidence.
LO5. Evaluate the sustainability and ethical behaviour of the firms’ international operations
 
 
 
Be Advised:
 
List of references have been made available to each topic listed above, these references here there to help find solutions to whatever topic pleases the writer.
 
Background & Global Trends and Challenges for International Business.
Readings:
Verbeke, A. (2013). International Business Strategy (2nd edition), Cambridge University, Press, NY.
Cantwell, J.A. (2000), “A survey of theories of international production”, chapter 2 in NTF.
Dunning, J.H. (2008), “The key literature on IB activities: 1960-2006”, chapter 2 in OHIB.
Pitelis, C.N. and Sugden, R. (2000), “The (theory of the) transnational firm”, chapter 1 in NTF.
Dunning, J.H. and Lundan, S.M. (2008), “Theories of foreign direct investment”, chapter 4 in MEGE.
Hedlund, G. (1996), “Organization and management of transnational corporations in practice and research”, in J.H. Dunning and K.P. Sauvant (eds.), Transnational Corporations and World Development, New York: Routledge.
 
Market Power & Internalisation Theory
Readings:
Buckley, P.J. and Casson, M.C. (2002), “A long-run theory of the multinational enterprise”, chapter 2 in The Future of the Multinational Enterprise, New York: Palgrave Macmillan (25th Anniversary Edition; originally published in 1976).
Hennart, J.-F. (2008), “Theories of the multinational enterprise”, chapter 5 in OHIB.
Ietto-Gillies, G. (2012), “Internalization and the transnational corporation”, chapter 8 in TCIP.
Kogut, B. and Zander, U. (1993), “Knowledge of the firm and the evolutionary theory of the multinational corporation”, Journal of International Business Studies, vol. 24, no. 4, pp. 625-645.
Forsgren, M. (2008), “The coordinating multinational: a tale of cost efficiency”, chapter 3 in TMF.
Yamin, M. (2000), “A critical re-evaluation of Hymer’s contribution to the theory of the transnational corporation”, chapter 3 in NTF.
Hymer, S. and Rowthorn, R. (1970), “The multinational corporation and international oligopoly”, in C.P. Kindleberger (ed.), The International Corporation, Cambridge, Mass.: MIT Press.
Ghauri, P.N. and Buckley, P.J. (2002), “Globalisation and the end of competition: a critical review of rent-seeking multinationals”, chapter 1 in CPI.
Forsgren, M. (2008), “The dominating multinational: a tale of market power”, chapter 2 in TMF.
Ietto-Gillies, G. (2012), “Hymer’s seminal work”, chapter 4, and “Transnational monopoly capitalism”, chapter 13 in TCIP.
 
The Eclectic Paradigm
Readings:
Dunning, J. (2000). The eclectic paradigm as an envelope for economic and business theories of MNE activity. International Business Review, 9(2): 163-190.
Dunning, J.H. (2000), “The eclectic paradigm of international production: a personal perspective”, chapter 5 in NTF.
Dunning, J. and Lundan, S. (2008). Multinational enterprise and the global economy(2nd ed.). Chapters 4 and 5.
Cantwell, J.A. and Narula, R. (2001), “The eclectic paradigm in the global economy”, International Journal of the Economics of Business, vol. 8, no. 2, pp. 155-172; revised version reprinted as “Revisiting the eclectic paradigm: new developments and current issues”, chapter 1 in J.A. Cantwell and R. Narula (eds., 2003), International Business and the Eclectic Paradigm: Developing the OLI Framework, New York: Routledge.
Dunning, J.H. (2001), “The eclectic (OLI) paradigm of international production: past, present and future”, International Journal of the Economics of Business, vol. 8, no. 2, pp. 173-190; revised version reprinted as chapter 2 in J.A. Cantwell and R. Narula (eds., 2003),
Eden, L., & Dai, L. (2010). Rethinking the O in Dunning’s OLI/Eclectic Paradigm, Multinational Business Review, 18(2): 13-33.
 
 Firm’s Competitiveness, Competence based evolutionary and Strategic Approaches 
Readings:
Cantwell, J.A. (2008), “Innovation and information technology in the multinational enterprise”, chapter 16 in OHIB.
Ietto-Gillies, G. (2012), “Evolutionary theories of the TNC”, chapter 11 in TCIP.
Ietto-Gillies, G. (2012), “The product life cycle and international production”, chapter 5, and “Oligopolistic reactions and the geographical pattern of FDI”, chapter 6 in TCIP.
Graham, E.M. (2000), “Strategic management and transnational firm behaviour: a formal approach”, chapter 7 in TNF.
Forsgren, M. (2008), “The knowing multinational: a tale of value creation”, chapter 4 in TMF.
Barney, J. B. (1991) ‘Firm resources and sustained competitive advantage’, Journal of Management, 17 (1), pp. 99-120.
Priem, R. L., & Butler, J. E. (2001). Is the resource-based “view” a useful perspective for strategic management research?. Academy of management review, 26(1), 22-40.
Eisenhardt, K. M., and Martin, J.A. (2000). Dynamic capabilities: What are they? Strategic Management Journal, 21 pp. 1105–1122.
Teece, D. J., Pisano, G. and Shuen, A. (1997) ‘Dynamic capabilities and strategic management’, Strategic Management Journal, 18 (7), pp. 509-533.
Eden, L., & Dai, L. (2010). Rethinking the O in Dunning’s OLI/Eclectic Paradigm, Multinational Business Review, 18(2): 13-33.
 
Institutions & MNEs from Emerging Economies
Readings:
Cantwell, J.A., Dunning, J.H. and Lundan, S.M. (2010), “An evolutionary approach to understanding international business activity: the co-evolution of MNEs and the institutional environment”, Journal of International Business Studies, vol. 41, no. 4, pp. 567-586.
Yiu, D. W., Lau, ChungMing and Bruton, G. D., (2007), International venturing by emerging economy firms: the effects of firm capabilities, home country networks, and corporate entrepreneurship,  International Business Studies, 38: 519-540.
Dunning, J., and Lundan, S., (2008), Multinational enterprises and the global economy (2nd ed.), Cheltenham: Edward Edgar Publishing Ltd. pp.123-137.
Wright, M., Filatotchev, I., Hoskisson, R.E., and Peng, M.W., (2005), Strategy Research in Emerging Economies: Challenging the Conventional Wisdom, Journal of Management Studies, 42(1):1-33.
Morck, R., Yeung, B., and Zhao, M., (2008). Perspectives on China’s outward foreign investment.  Journal of International Business Studies, 39(3): 337‐350.
Elango, B. and Pattnaik, C. (2007), Building capabilities for international operations through networks: a study of Indian firms, Journal of International Business Studies, 38(4): 541‐555.
Buckley, P. (2018), “Internalisation theory and outward direct investment by emerging market multinationals”, Management International Review, vol. 58, pp. 195-224
Hennart, J.F. (2012), “Emerging market multinationals and the theory of the multinational enterprise”, Global Strategy Journal, vol. 2 no. 3, pp. 168-187.
Luo, Y.D. and Tung, R.L. (2007), “International expansion of emerging market enterprises: A springboard perspective”, Journal of International Business Studies, vol. 38, no. 4, 481-498
 
 International Entry Mode & Location Issues
 
Readings:
Buckley, P. &Ghauri, P. (2004) .Globalisation, economic geography and the strategy of multinational enterprises. Journal of International Business Studies, 35(2): 81‐98.
Rugman, A.M. and Verbeke, A. (2008), “Location, competitiveness, and the multinational enterprise”, chapter 6 in OHIB.
Dunning, J.H. and Lundan, S.M. (2008), “The motives for foreign production”, chapter 3, and “Linkages, spillovers and clustering”, chapter 16 in MEGE.
Dunning, J.H. (1998), “Location and the multinational enterprise: a neglected factor?”, Journal of International Business Studies, vol. 29, no. 1, pp. 45-66.
Cantwell, J.A. (2009), “Location and the multinational enterprise”, Journal of International Business Studies, vol. 40, no. 1, pp. 35-41.
Cantwell, J.A., Iammarino, S. and Noonan, C. (2001), “Sticky places in slippery space – the location of innovation by MNCs in the European regions”, in N. Pain (ed.), Inward Investment, Technological Change and Growth: The Impact of MNCs on the UK Economy, New York: Palgrave Macmillan.
Galan1, J., Gonzalez-Benito, J., Zuniga-Vincente, J. (2007). Factors determining the location decisions of Spanish MNEs: an analysis based on the investment development path. Journal of International Business Studies. 38(6): 975–997.
Yamin, Mo and Golesorki, S., (2010), Cultural distance and the pattern of equity ownership structure in international joint ventures, International Business Review, 19(5): 457-467.
Filiou, D., &Golesorkhi, S. (2016). Influence of institutional differences on firm innovation from international alliances. Long range Planning, 49(1): 129-144.
 
Strategy &Orgnisation of MNEs
Readings:
Tallman, S.B. and Yip, G.S. (2008), “Strategy and the multinational enterprise”, chapter 12 in OHIB.
Westney, D.E. and Zaheer, S. (2008), “The multinational enterprise as an organization”, chapter 13 in OHIB.
Dunning, J.H. and Lundan, S.M. (2008), “The organisation of MNE activity: the internal network”, chapter 8 in MEGE.
Forsgren, M. (2008), “The designing multinational: a tale of strategic fit”, chapter 5, and “The networking multinational: a tale of business relationships”, chapter 6, in TMF.
Birkinshaw, J. and Hood, N. (1998), “Multinational subsidiary development: capability evolution and charter change in foreign-owned subsidiary companies”, Academy of Management Review, vol. 23, no. 4, pp. 773-795.
Andersson, U. and Forsgren, M. (2000), “In search of centre of excellence: network embeddedness and subsidiary roles in multinational corporations”, Management International Review, vol. 40, no. 4, pp. 329-350.
McDonald, F., Tüselmann, H., Voronkova, S.,Golesorkhi, S. ( 2011). The strategic development of subsidiaries in regional trade blocs, Multinational Business Review, 9(13): 256-271.
 
 
Microfinance Industry & IB
Readings:
London, T., and Hart, S.L., (2004), Reinventing strategies for emerging markets: beyond the transnational model, Journal of International Business Studies, 35: 350-370.
Mersland, R., Randøy, T., Strøm, R. Ø. (2011). The impact of international influence on microbanks’ performance: A global survey. International Business Review, 20(2): 163-176.
Mersland, R., &Strøm, R. Ø. (2010). Microfinance Mission Drift? World Development, 38(1): 28-36.
Randøy, T., Strøm, R. Ø., Mersland, R. (2015). The impact of entrepreneur-CEOs in microfinance institutions: A global survey. Entrepreneurship Theory and Practice, 39(4): 927-
953.
Mersland, R., Strøm, R. Ø. (2009). Performance and Governance in Microfinance Institutions. Journal of Banking and Finance, 33(4): 662-669.
Mori, N., Golesorkhi, S., Randøy, T., Hermes, N. (2015). Board Composition and Outreach Performance of Microfinance Institutions: Evidence from East Africa. Strategic Change, 24(1): 99–113.
Golesorkhi, S., Randøy, T., Mersland, R., Shenkar, O. (2018). The Performance Impact of Informal and Formal Institutional Differences in Cross-Border Alliances. International Business Review. https://doi.org/10.1016/j.ibusrev.2018.08.006.
Hermes, N., Hudon, M. (2018). Determinants of the Performance of Microfinance Institutions: a systematic review. Journal of Economic Surveys, doi: 10.1111/joes.1229: 1–31
 
International Strategic Alliances and International Mergers and Acquisitions 
 
Reading:
Inkpen, A.C. (2008), “Strategic alliances”, chapter 15 in OHIB.
Dunning, J.H. and Lundan, S.M. (2008), “The organisation of MNE activity: the external network”, chapter 9 in MEGE.
Lundan, S. and Hagedoorn, J. (2001), “Alliances, acquisitions and multinational advantage”, International Journal of the Economics of Business, vol. 8, no. 2, pp. 229-242.
Contractor, F. and Ra, W. (2002), “How knowledge attributes influence alliance governance choices: a theory development note”, Journal of International Management, vol. 8, no. 1, pp. 11-27.
Dunning, J.H. (1995), “Reappraising the eclectic paradigm in an age of alliance capitalism”, Journal of International Business Studies, vol. 26, no. 3, pp. 461-491.
Yamin, Mo and Golesorki, S., (2010), Cultural distance and the pattern of equity ownership structure in international joint ventures, International Business Review, 19(5): 457-467.
Filiou, D., &Golesorkhi, S. (2016). Influence of institutional differences on firm innovation from international alliances. Long range Planning, 49(1): 129-144.
 
 
New Directions in IB Research
Readings:
Zander, U. (2002), “When Muhammed goes to the mountain: globalisation, cathedrals of
modernity and a new world in order”, chapter 7 in CPI.
Dunning, J.H. (1999), “Forty years on: American investment in British manufacturing industry revisited”, Transnational Corporations, vol. 8, no. 2, pp. 1-34.
Cantwell, J.A. (1992), “Innovation and technological competitiveness”, in P.J. Buckley and M.C. Casson (eds.), Multinational Enterprises in the World Economy: Essays in Honour of John Dunning, Brookfield, Vermont: Edward Elgar.
Chang, S.J. and Rhee, J.H. (2011), Rapid FDI expansion and firm performance”, Journal of International Business Studies, vol. 42, no. 8, pp. 979-994.
Buckley, P.J., Doh, J.P. &Benischke, M.H. (2017). Towards a renaissance in international business research? Big questions, grand challenges, and the future of IB scholarship.  Journal of International Business Studies. 48(9): 1045-1064. (to access this journal use the link http://eprints.whiterose.ac.uk/119530/ and download the accepted version of the paper to the Journal of International Business Studies).
Casella, B. and  andFormenti, L. (2018), “FDI in the digital economy: a shift to asset-light international footprints”, Transnational Corporations, vol. 25, no. 1, pp.101-130.
 
 
 
Essential Reading.
 
 
The oxford handbook of international business
By Book by Rugman, Alan M. 2010
 
The nature of the transnational firm
 
Book by Pitelis, Christos; Sugden, Roger 2000
 
Multinational enterprises and the global economy
Book by Dunning, John H.; Lundan, Sarianna M. c2008
 
 
Theories of the multinational firm: a multidimensional creature in the global economy
Book by Forsgren, Mats2017
 
 
Critical perspectives on internationalisation
Book by Havila, Virpi; Forsgren, Mats; Håkansson, Håkan 2002
Transnational corporations and international production: concepts, theories and effects
Book by Ietto-Gillies, Grazia; ProQuest (Firm) 2012
 
Rethinking the O in Dunning’s OLI/Eclectic Paradigm in Multinational Business Review
Article by Eden, Lorraine; Dai, Li 2010-06-17
 
 
 
 
 
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