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date: 25 September 2020

Abstract and Keywords

The objectives of this article are to explain the rationale for the existence of the multinational corporation, to describe the stages of internationalization, to review the four distinct forms of multinational corporate strategy and structure, and to consider their dynamic nature and relate them to typical contingent circumstances. The multinational corporation (MNC) has dominated the international business environment at least since World War II. One of the most popular academic rationales for the MNC is that of Dunning's eclectic paradigm (advantages of ownership, location, and internalization (OIL)). Rugman, Lecraw, and Booth provide a different characterization of the same OLI elements used by Dunning by combining the three OLI elements into two factors: firm-specific advantages (FSAs — which include ‘O’ and ‘I’) and country-specific advantages (CSAs — which incorporates ‘L’).

Keywords: multinational corporation, corporate strategy, internationalization, country-specific advantages, OLI, firm-specific advantages

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