Abstract
The ‘economic school’ of thought has been tremendously influential in International Business (IB) research. Scholars adhering to this school (e.g., Anderson and Gatignon, 1986; Buckley and Casson, 1976; Dunning, 1977, 1988; Hennart, 1993; Hirsch, 1976; Rugman, 1981, 1986) focus on the advantages gained from internalising the firm’s foreign activities during its international expansion. Internalisation enables the firm to minimise the cost of economic transactions by better exploiting underutilised firm-specific capabilities (e.g., managerial skills and technology), which are superior to those of indigenous competitors.
| Original language | English |
|---|---|
| Title of host publication | Foreign Direct Investment, China and the World Economy |
| Editors | Peter J. Buckley |
| Place of Publication | London |
| Publisher | Palgrave Macmillan Ltd |
| Pages | 25-52 |
| Number of pages | 28 |
| ISBN (Electronic) | 9780230248328 |
| ISBN (Print) | 9780230515987, 9781349354221 |
| DOIs | |
| Publication status | Published - 30 Nov 2009 |
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