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Searching for a dynamic theory of the multinational enterprise: A transaction cost model
Charles W. L. Hill,W. Chan Kim +1 more
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In this paper, a transaction cost model for the transition between two distinct governance modes for serving a foreign market; a wholly owned subsidiary and licensing is presented. And the model is then extended, first to incorporate a temporal perspective and then a dynamic perspective.Abstract:
This paper constructs a transaction cost model that provides an explanation for the transition between two distinct governance modes for serving a foreign market; a wholly owned subsidiary and licensing. The paper initially outlines a single-period model of the factors that influence a firm's choice of governance mode. The model is then extended, first to incorporate a temporal perspective and then a dynamic perspective. The completed model identifies organizational and environmental contingencies that shape dynamic multi-period decision-making for the choice of governance mode.read more
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A Resource-Based Theory of the Firm: Knowledge Versus Opportunism
TL;DR: In this article, the authors develop a resource-based knowledge-based theory of why firms are formed, based on irreducible knowledge differences between individuals rather than the threat of purposeful cheating or withholding of information.
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Structuring cooperative relationships between organizations
TL;DR: In this paper, the authors address alternative forms of governance in cases where multiple organizations repeatedly cooperate and explore their characteristics and follow this with a discussion of criteria which they believe bear on the choice of governance: risk and reliance on trust.
Book
Strategic management
TL;DR: In this article, a hierarchy intent encircles around vision along with mission, SBU, goals, objectives, policy, procedures and program, and budget, and strategic input is processed (strategic actions) for the output (products and services) with proper, constant and continuous feedback (information provision like nervous system) to take care of resource based internal environment (micro/ resources/ assettangibles and intangibles) and industry oriented external environment (PPolitical-legal, EEconomical, SSociocultural, TTechnological/ macro).
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An eclectic theory of the choice of international entry mode
TL;DR: It is argued that a firm's choice of entry mode depends on the strategic relationship the firm envisages between operations in different countries, and that resolving these differences involves accepting trade-offs.
Journal ArticleDOI
Theory and research in strategic management: Swings of a pendulum:
TL;DR: A review of the development of the field of strategic management and its current position examines the field's early development and the primary theoretical and methodological bases through its history as discussed by the authors, which is a good starting point for this paper.
References
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The Nature of the Firm
TL;DR: In this paper, it is shown that a definition of a firm may be obtained which is not only realistic in that it corresponds to what is meant by a firm in the real world, but is tractable by two of the most powerful instruments of economic analysis developed by Marshall, the idea of the margin and that of substitution.
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