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The pace and scale of contemporary globalisation is unprecedented. One reason for the speeding-up of the globalisation process is the emergence of global value chains (GVCs). First theoretical aspect, important for our research in this paper, is the framework of GVCs analysis. One of the four dimensions that are being explored by GVCs methodology is the institutional context1 in which the industry value chain is embedded [1]; the institutional context identifies how local, national and international conditions and policies shape the globalization in each stage of the value chain. The second important theoretical aspect for our research is the institution-based view of international business strategy (IBS), which is argued to be, besides industryand resource-based views, one of the three leading perspectives in international business strategy [2]. According to the institution-based view of IBS, which has been influenced by the North’s [3] metaphor on institutions as being the “rules of the game”, the researchers explore the topics, such as entry decisions, foreign direct investment strategies and diversification decisions. The third important theoretical aspect for our research is the Dunning’s [4] OLI paradigm of a firm’s international expansion. According to this paradigm, besides ownership-specific and internalisation advantages, the international expansion of a firm and its competitive performance are based also on exploitation of the location-specific advantages. The location-specific advantages affect the attractiveness of a given country or region for companies either in the role of the host or home location for their activities. As part of the institutional context and the specific location advantages are also institutional incentives of regional economic integrations.

Optimizing Global Value Chain Activities by Diagonal Cumulation of Origin