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Knowledge, market failure and the multinational enterprise : a theoretical note
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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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Official URL: http://dx.doi.org/10.1057/palgrave.jibs.8490180
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 | ||||||||
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Divisions: | Faculty of Social Sciences > Economics Faculty of Social Sciences > Warwick Business School > Strategy & International Business Faculty of Social Sciences > Warwick Business School |
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Journal or Publication Title: | Journal of International Business Studies | ||||||||
Publisher: | Palgrave Macmillan Ltd. | ||||||||
ISSN: | 0047-2506 | ||||||||
Official Date: | 1995 | ||||||||
Dates: |
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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Status: | Not Peer Reviewed | ||||||||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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