Pitelis, Christos (2007): Edith Penrose and a learning-based perspective on the MNE and OLI. Published in: Management International Review , Vol. 47, No. 2 (2007): pp. 207-219.
Download (184kB) | Preview
We apply insights from Edith Penrose’s work to extant theory of the multinational enterprise (MNE) as enveloped by John Dunning’s Ownership, Location, Internalization (OLI) Paradigm. We suggest that Penrose’s knowledge-based approach has important implications on the nature of, and the interactions between, O, L and I. Importantly, the resource/knowledge-based perspective of Penrose helps endogenize and integrate the three elements of Dunning’s triad in the context of a dynamic, strategic and forward-looking knowledge-based perspective of the MNE.
|Item Type:||MPRA Paper|
|Original Title:||Edith Penrose and a learning-based perspective on the MNE and OLI|
|Keywords:||Penrose, Learning, MNE, OLI|
|Subjects:||L - Industrial Organization > L0 - General
M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M0 - General
|Depositing User:||Christos Pitelis|
|Date Deposited:||11. Aug 2010 11:03|
|Last Modified:||30. Dec 2015 10:34|
Buckley, P.J./Casson, M.C. The Future of Multinational Enterprise, London: Macmillan 1976.
Casson, M., ‘Introduction’ to The Large Multinational Corporation by Stephen Hymer, in M. Casson (ed.). Multinational Corporations, Hants: Edward Elgar 1990.
Coase, R.H., The Nature of the Firm, Economica, 4, 1937, pp. 386-405.
Doz, Y. L., Toward a Managerial Theory of the MNC, in Hitt, M./ J. Cheng (eds.), Theories of The Multinational Enterprise; Diversity, Complexity and Relevance, Elsevier 2004
Dunning, J.H., American Investment in British Manufacturing Industry, London: Allen and Unwin 1958
Dunning, J.H., Trade, location of economic activity and the MNE: a search for an eclectic approach, in Ohlin, B./ Hesselborn, P.O./Wijkman, P.M. (eds.) The International Allocation of Economic Activity, London and Basingstoke: Macmillan 1977, pp. 395-418.
Dunning, J.H., The Eclectic Paradigm of International Production: A Restatement and Some Possible Extensions, Journal of International Business Studies, 19, 1988, pp. 1- 31.
Dunning, J.H., Location and the Multinational Enterprise: A Neglected Factor?, Journal of International Business Studies, 29(1), 1998, pp. 45-66.
Dunning, J.H., The Eclectic Paradigm as an Envelope for Economic and Business Theories of MNE Activity, International Business Review, 9(1), 2000, pp. 163-90.
Dunning, J.H., The Key Literature on IB Activities: 1960-2000, in Rugman, A.C./ Brewer, T.L. (eds.), Oxford Handbook of International Business, Oxford: Oxford University Press 2001, pp.36-68.
Dunning, J.H., The Contribution of Edith Penrose to International Business Scholarship, Management International Review, 43 (1), 2003
Dunning, J.H., Towards a New Paradigm of Development; Implications for the Determinants of International Business Activity, Mimeo, Universities of Reading and Rutgers, 2005
Dunning, J. H. and Pitelis, C. N., If Hymer were writing now?: an assessment of Stephen Hymer’s contribution to ‘International Business’ scholarship, Mimeo, Universities of Reading, Rutgers and Cambridge 2004
Horaguchi, H./Toyne, B., Setting the Record Straight: Hymer, Internalization Theory and Transaction Cost Economics, Journal of International Business Studies, 21(3), 1990, pp. 487-495.
Hymer, S.H., The Large Multinational ‘Corporation’, in Casson, M. (1990) (ed.), Multinational Corporations, Hants: Edward Elgar 1968, pp. 6-31.
Hymer, S.H., The Efficiency (Contradictions) of Multinational Corporations, American Economic Review Papers and Proceedings, 60, 1970, pp. 441-48.
Hymer, S.H., The Multinational Corporation and the Law of Uneven Development, in Bhagwati, J.N. (ed.), Economics and World Order, London: Macmillan 1972
Hymer, S.H., The International Operations of National Firms: A Study of Foreign Direct Investment, Cambridge, Mass: MIT Press 1976
Hymer, S.H., in Cohen R.B. et al (eds.), The Multinational Corporation: A Radical Approach. Papers by Stephen Hymer, Cambridge: Cambridge University Press 1979
Kay, N., Hercules and Penrose, Contributions to Political Economy, 18, 1999, pp. 67- 86.
Kogut, B./Zander, U., Knowledge of the Firm and the Evolutionary Theory of the Multinational Corporation, Journal of International Business Studies, 24(4), 1993, pp. 625-645.
Marris, R., Edith Penrose and Economics, Contributions to Political Economy, 18, 1999, pp. 47-65.
Penrose, E.T., Foreign Investment and the Growth of the Firm, Economic Journal, 66, 1956, pp. 220-235.
Penrose, E.T., The Theory of the Growth of the Firm, Oxford: Oxford University Press, 3rd edn. 1959/1995
Penrose, E. T., The Growth of the Firm – a Case Study: the Hercules Powder Company, Business History Review, 34, 1960, pp. 1-23
Penrose, E. T., The Large International Firm in Developing Countries: the International Petroleum Industry, London: Allen and Unwin 1968
Penrose, E. T., Multinational corporations, in Eatwell, J./ P. Newman/M. Milgate (eds.), The New Palgrave: A Dictionary of Economics, 1987, pp. 562-564.
Pitelis, C.N., A Theory of the (Growth of the) Transnational Firm: A Penrosean Perspective, Contributions to Political Economy, 19, 2000, pp. 71-89.
Pitelis, C. N. (ed.), The Growth of the firm: the legacy of Edith Penrose, Oxford: Oxford University Press 2002a
Pitelis, C. N., Stephen Hymer: Life and the Political Economy of Multinational Corporate Capital, Contributions to Political Economy, 21, 2002b, pp. 9-26.
Pitelis, C. N., Edith Penrose and the Resource-based View of (International) Business Strategy, International Business Review, 13 (4), 2004, pp. 523-532.
Pitelis, C. N., Twenty Years Resource-Based View (or is it Fifty?): Some (Old and) New Challenges and Need for Extensions, International Journal of Learning and Intellectual Capital, forthcoming 2006.
Pitelis, C. N./M. W. Wahl, Edith Penrose: pioneer of stakeholder theory, Long Range Planning, 31(2), 1998, pp. 252-261.
Pitelis, C. N./ Sugden. R., Preface, Contributions to Political Economy, Special Issue on Stephen Hymer, 21, 2002, pp. 1-4
Richardson, G.B., The Organisation of Industry, Economic Journal, 82, 1972, pp. 883-896.
Rugman, A.M./Verbeke, A., Edith Penrose’s Contribution to the Resource-Based View of Strategic Management, Strategic Management Journal, 23, 2002, pp. 69-78.
Teece, D. J., Dynamic Capabilities and the Essence of Multinational Enterprise: Reflections on the Hymer Thesis, International Business Review ‘Special Issue on Stephen Hymer’, forthcoming 2006
The Economist, Face value: The master builder, The Economist, 15th October 2005, p. 88
Verbeke, A., The evolutionary view of the MNE and the future of internalization theory, Journal of International Business Studies, 34, 2003, pp. 498 – 504
Verbeke, A./Yuan, W., Entrepreneurship in Multinational Enterprises: A Penrosean Perspective’, Management International Review ‘Special Issue on Edith Penrose’, forthcoming 2006
Williamson, O. E., The Modern Corporation: origins, evolution, attributes, Journal of Economic Literature, 19 (4), 1981, 1537-1569.