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Decision-making in international business

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  • Peter Buckley

    (University of Leeds)

  • Mark Casson

    (University of Reading)

Abstract

This paper builds on preceding papers. It distinguishes three domains of international business theory: the boundaries of the multinational enterprise, the external environment of the enterprise and its internal structure. The central concern of internalisation theory is the boundaries of the firm. Any general theory of international business must also analyse the external environment and internal structure. Competition dominates the external environment while co-operation dominates internal structure. Different models of decision-making are required for each. Different theories of decision-making must therefore be integrated in order to transform internalisation theory into a general theory of international business. This paper examines how this can be done.

Suggested Citation

  • Peter Buckley & Mark Casson, 2019. "Decision-making in international business," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(8), pages 1424-1439, October.
    • Handle: RePEc:pal:jintbs:v:50:y:2019:i:8:d:10.1057_s41267-019-00244-6
    DOI: 10.1057/s41267-019-00244-6
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    References listed on IDEAS

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    Cited by:

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    2. Sierk Horn & Tomoki Sekiguchi & Matthias Weiss, 2021. "Thrown off track? Adjustments of Asian business to shock events," Asian Business & Management, Palgrave Macmillan, vol. 20(4), pages 435-455, September.
    3. Irina G. Vladimirova & Natalia Yu. Konina & Viktor S. Efremov, 2020. "Transnationalization of multinational corporations: Peculiarities and trends," Upravlenets, Ural State University of Economics, vol. 11(4), pages 70-81, September.
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    5. Zheng, Linglin (Gloria) & Wechtler, Heidi M. & Heyden, Mariano L.M. & Bouncken, Ricarda B., 2024. "Global disasters and the luck of the draw? A serendipity perspective on MNE responses to global disasters," Journal of International Management, Elsevier, vol. 30(1).
    6. Ming-Chang Huang & Tian-Jyun Gong & Shih-Ping Sun & Ping-Hsin Lin, 2023. "Obstacles or catalysts? A balanced view of formal institutional risks on FDI location choice," Asian Business & Management, Palgrave Macmillan, vol. 22(5), pages 2077-2105, November.
    7. Hartwell, Christopher A. & Devinney, Timothy, 2021. "Populism, political risk, and pandemics: The challenges of political leadership for business in a post-COVID world," Journal of World Business, Elsevier, vol. 56(4).
    8. Matevž Rašković, 2022. "International business policymaking for a “wicked” world," Journal of International Business Policy, Palgrave Macmillan, vol. 5(3), pages 353-362, September.
    9. Velásquez, Iris María Cantillo & Vargas, Yamile León, 2022. "Tendencias de investigación en los negocios internacionales," Revista Tendencias, Universidad de Narino, vol. 23(2), pages 273-302, July.
    10. Mats Forsgren & Ulf Holm, 2022. "Controlling without owning – owning without controlling: A critical note on two extensions of internalization theory," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(8), pages 1734-1746, October.
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    12. Rajneesh Narula & Christian Geisler Asmussen & Tailan Chi & Sumit Kumar Kundu, 2019. "Applying and advancing internalization theory: The multinational enterprise in the twenty-first century," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(8), pages 1231-1252, October.

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