FROM THE ANALYSIS OF THE INTERNATIONAL MOVEMENT OF CAPITAL TO A THEORY OF THE MULTINATIONAL ENTERPRISE
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Abstract
International business studies have traditionally been concerned of the set of international activities and transactions in which companies engage. The classification as international or multinational enterprise (MNE) is based on the control and commitment abroad. The study of the existence, development and limits of the MNE as an economic phenomenon began in the mid-twentieth century with the contributions of Stephen Hymer, considered the father of international business, and authors such as Ronald Coase, Oliver Williamson, Raymond Vernon, Frederick Knickerbocker, Marc Casson, Peter Buckley and John Dunning, among others. This paper is intended to summarize some of the theoretical approaches to the analysis of international capital flows and the emergence and evolution of the MNEs. To do this, a review of the contributions of authors such as Rosa Luxemburg, Bertil Ohlin and Ragnar Nurkse was initially made, then the transcendental contribution of Stephen Hymer and the institutionalism-transaction cost theory developed by Ronald Coase and Oliver Williamson were discussed and finally the theory of the internalization of the MNE by Peter Buckey and Marc Casson and Dunning’s eclectic paradigm were introduced.
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