Edith Penrose's Theory of the Growth of the Firm and the strategic management of multinational enterprises

Peter J. Buckley; Mark Casson

doi:10.1007/s11575-007-0009-1

Edith Penrose's Theory of the Growth of the Firm and the strategic management of multinational enterprises

Peter J. Buckley^*, Mark Casson

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

Abstract

■ This paper provides a formal model of Edith Penrose's Theory of the Growth of the Firm which has important implications for the strategy of multinational enterprises. ■ The model provides an analysis of the trade-off between product diversification and foreign market penetration. It also can account for the speed of entry into foreign markets. ■ Formalizing Penrose's Theory of the Growth of the Firm provides an account of internationalization incorporating geographical expansion patterns, sequential decision making and learning.

Original language	English
Pages (from-to)	151-173
Number of pages	23
Journal	Management International Review
Volume	47
Issue number	2
DOIs	https://doi.org/10.1007/s11575-007-0009-1
Publication status	Published - 2007
Externally published	Yes

Keywords

Edith Penrose
Foreign market entry
Global strategic management
Internationalization
Multinational firms
Product diversification

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Edith Penrose's Theory of the Growth of the Firm and the strategic management of multinational enterprises

Abstract

Keywords

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