Journal of International Business Studies

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

Some antecedents of internalization theory

Article

Abstract

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.

Keywords

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

Notes

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Copyright information

© Academy of International Business 2003

Authors and Affiliations

  1. 1.Reading and Rutgers UniversitiesUK

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