Journal of International Business Studies

, Volume 34, Issue 2, pp 108–115 | Cite as

Some antecedents of internalization theory



This article reviews the main antecedents to Buckley and Casson's seminal volume The Future of the Multinational Enterprise (1976). In particular it considers and evaluates two main approaches to understanding the nature and function of firms viz the exchange approach and the value-added approach.


multinational enterprise the firm foreign direct investment the exchange function the value-added function transaction costs internalization theory 



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Copyright information

© Academy of International Business 2003

Authors and Affiliations

  1. 1.Reading and Rutgers UniversitiesUK

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