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Economics Of International Business |
Mark Casson, Professor of Economics, University of Reading, UK
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‘This is an interesting book on an important topic. . .’
– Mikael Linden, Scandinavian Economic History Review
‘This book is indispensable reading for all researchers and practitioners in the international business field as well as economists and academics alike.’
– Giustificativo Pubblicato sul Bollettino del CIRT
Economics of International Business sets out a new agenda for international business research. Mark Casson asserts that it is time to move the subject on from sterile debates about transaction cost economies and resource-based theories of the firm. Instead of focusing on the individual firm, the new agenda focuses on the global systems view of international business. A static view of the firm’s environment is replaced by a dynamic view which highlights the volatility of the international business environment. Coping with volatility requires entrepreneurial skills, flexibility and the need to synthesize information on a global basis. To co-ordinate the global system properly, entrepreneurs must co-operate through social networks of trust, as well as competing. Constructing a network of joint ventures, it is argued, is simply not enough.
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Contents: Preface and Acknowledgements 1. Models of Multinational Enterprise: A New Research Agenda 2. Foreign Market Entry: A Formal Extension of Internalization Theory 3. The Boundaries of Firms: A Global Systems Perspective 4. Bounded Rationality, Meta-rationality and the Theory of International Business 5. The Organization of the Multinational Enterprise: An Information Cost Approach 6. International Joint Ventures 7. Real Options in International Business 8. Entrepreneurship and the International Business System: Developing the Perspective of Schumpeter and the Austrian School 9. Networks in International Business 10. Conclusion: Methodological Issues in International Business Index
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