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The Internalization Theory of the Multinational Enterprise: Past, Present and Future
Author(s) -
Buckley Peter J.,
Casson Mark
Publication year - 2020
Publication title -
british journal of management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.407
H-Index - 108
eISSN - 1467-8551
pISSN - 1045-3172
DOI - 10.1111/1467-8551.12344
Subject(s) - multinational corporation , internalization theory , order (exchange) , set (abstract data type) , focus (optics) , sociology , business , management science , computer science , economics , physics , finance , optics , programming language
This paper presents an agenda for extending the theory of international business in order to explain a wider range of phenomena. This, however, has to be done with due attention to the requirements of good social science theory. Relevant criteria are set out, together with a list of issues that new theory must address. Theory needs to focus on industries as well as firms, and make greater use of formal multi‐actor models. ‘Generalizing from the particular’ should be avoided; theory needs to be derived from general social science principles that have proved successful in cognate disciplines.