Love, James H. (1995) Knowledge, market failure and the multinational enterprise : a theoretical note. Journal of International Business Studies, Volume 26 (Number 2). pp. 399-407. doi:10.1057/palgrave.jibs.8490180 ISSN 0047-2506.

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Abstract

This article offers a critique and extension of recent work by Bruce Kogut and Udo Zander. Kogut and Zander are correct to argue that opportunism is unnecessary to explain the existence of the multinational, but wrong to infer that this indicates an absence of market failure. They have identified an important class of transaction costs and market failure which arises in the absence of opportunism, but do not cat doubt on the market failure approach to the theory of the multinational. Their argument that they have identified an important source of ‘ownership’ advantage is unconvincing and is not supported by the empirical evidence. However, Kogut and Zander's work is of considerable significance, but in areas different from those that they highlight.© 1995 JIBS. Journal of International Business Studies (1995) 26, 399–407

Item Type:	Journal Article
Divisions:	Faculty of Social Sciences > Economics Faculty of Social Sciences > Warwick Business School > Strategy & International Business Faculty of Social Sciences > Warwick Business School
Journal or Publication Title:	Journal of International Business Studies
Publisher:	Palgrave Macmillan Ltd.
ISSN:	0047-2506
Official Date:	1995
Dates:	Date Event 1995 Published September 1994 Accepted June 1994 Submitted
Volume:	Volume 26
Number:	Number 2
Page Range:	pp. 399-407
DOI:	10.1057/palgrave.jibs.8490180
Status:	Not Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access

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