The impact of corporate embeddedness of transnational companies on local economic development: case studies from Hungary

Reindustrialisation and the European Industrial Renaissance are strategic priorities of the current EU programming period (2014-2020). In parallel with the declining significance of national economies, meso (local) level is becoming more and more powerful. Key actors of reindustrialisation are transnational companies (TNCs) and their locations, the specific settlements. Transnational companies are influential allies of local and regional communities from several aspects, such as society, economy, science, governance, natural and built environment. The scientific approach is based on the basic concepts of evolutionary economic geography and recent innovation models. Research papers generally focus on one or two aspects of embeddedness, for example innovation, social or institutional embeddedness. The current paper examines embeddedness from a complex, multidimensional perspective that has not yet been applied in this context. It presents a new model of the embedment process and a framework of corporate embeddedness based on case studies. By the application of a process© Józsa V., Káposzta J., Nagy H.