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Business Ethics and Transnational Companies

In: The Role of Business Ethics in Economic Performance

Author

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  • Neil Hood

Abstract

Foreign direct investment (FDI) has been growing rapidly in the recent past. Indeed it has been growing faster than international trade, which has long been the principal mechanism linking national economies. In consequence the operations of transnational companies (TNCs) have a profound effect on most aspects of business life and on the prosperity of many nations. These investment flows are concentrated in a few countries, in that the ten largest host countries received two-thirds of the total inflows of $315 billion in 1995, while the smallest one hundred received only 1 per cent. Foreign direct investment is a major force shaping globalisation. The outward FDI stock which the 39 000 parent firms had invested in their 270 000 foreign affiliates reached $2.7 trillion in 1995. Moreover, FDI flows doubled between 1980 and 1994 relative to both global gross fixed capital formation and world gross national product. The value added of all foreign affiliates accounted for 6 per cent of world gross domestic product in 1991, compared to 2 per cent in 1982 (UNCTAD, World Investment Report, 1996).

Suggested Citation

  • Neil Hood, 1998. "Business Ethics and Transnational Companies," Palgrave Macmillan Books, in: Ian Jones & Michael Pollitt (ed.), The Role of Business Ethics in Economic Performance, chapter 10, pages 193-210, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37979-4_10
    DOI: 10.1057/9780230379794_10
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    Cited by:

    1. Peter J. Buckley & Mark Casson, 2010. "The Moral Basis of Global Capitalism: Beyond the Eclectic Theory," Palgrave Macmillan Books, in: The Multinational Enterprise Revisited, chapter 9, pages 205-238, Palgrave Macmillan.
    2. Ian Jones & Michael Pollitt, 1999. "The Development of Ethical Issues Facing Boards of Directors: A Model with Implications," Working Papers wp151, Centre for Business Research, University of Cambridge.

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