Elements of multinational strategy:
Gespeichert in:
1. Verfasser: | |
---|---|
Format: | Buch |
Sprache: | English |
Veröffentlicht: |
Berlin [u.a.]
Springer
2007
|
Schlagworte: | |
Online-Zugang: | Inhaltsverzeichnis Klappentext |
Beschreibung: | XII, 208 S. graph. Darst. 235 mm x 155 mm |
ISBN: | 9783540447658 3540447652 9783540744382 354074438X |
Internformat
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Datensatz im Suchindex
_version_ | 1804137099437277184 |
---|---|
adam_text | Contents
Business
Across Borders
............................. 1
1.1
Overview of International Business
................... 1
1.1.1
What Makes a Business Transaction
International ?
.............................. 2
1.1.2
Types of Transaction
.......................... 3
1.1.3
Types of Entities
............................. 6
1.2
Six Forms of Separation
............................. 7
1.2.1
Political Separation
........................... 8
1.2.2
Physical Separation
........................... 9
1.2.3
Relational Separation
......................... 11
1.2.4
Environmental Separation
..................... 12
1.2.5
Developmental Separation
..................... 12
1.2.6
Cultural Separation
........................... 18
1.3
Looking Forward
................................... 22
References
............................................. 22
Gains from Trade
.................................... 25
2.1
Comparative Advantage in the Short Run
............. 26
2.2
Comparative Advantage in the Long Run
............. 28
2.3
The Shoe Story and Economic Reality
................ 31
2.4
From Comparative to Competitive Advantage
......... 32
2.5
Shoe Story II: Returns to Scale
...................... 33
References
............................................. 37
Factor Advantages
................................... 39
3.1
Factor Abundance
.................................. 39
3.2
The Case of Cashmere
.............................. 44
3.3
Factor Quality
..................................... 45
X
Contents
3.4 Dynamics
of Comparative Advantage
................. 48
References
............................................. 53
4
Trade Costs
.......................................... 55
4.1
Physical Separation and the Distance Effect
........... 55
4.1.1
Freight Costs
................................ 57
4.1.2
Time Costs
.................................. 60
4.1.3
Travel and Communication Costs
............... 62
4.2
Political Separation and the Border Effect
............. 63
4.2.1
Estimated Border Effects
...................... 64
4.2.2
Trade Policy Barriers
......................... 66
4.2.3
Currency Conversion Costs
.................... 66
4.3
Relational Separation and Transaction Costs
.......... 67
Appendix: INCO Terms
................................. 72
References
............................................. 74
5
Trade Rules
.......................................... 75
5.1
National Trade Policies
............................. 75
5.1.1
Standard Customs Procedures
.................. 75
5.1.2
Special Import Measures
...................... 78
5.2
The World Trade Organization
....................... 79
5.3
Dumping
.......................................... 81
5.3.1
Developments in Antidumping Policy
........... 81
5.3.2
Antidumping Procedures in the US,
EU,
and
Canada
..................................... 82
5.3.3
Strategies for Coping with Antidumping
......... 85
5.4
Subsidies and Countervailing Duties
.................. 85
5.5
Safeguards
........................................ 86
5.6
Disguised Protection
................................ 87
5.7
Preferential Trade Agreements
....................... 89
5.7.1
The European Union
......................... 90
5.7.2
The North American Free Trade Agreement
...... 92
References
............................................. 93
6
Market Adaptation
.................................. 95
6.1
The Levitt Argument
............................... 95
6.2
Examples of Adaptation
............................ 97
6.3
Environmental Adaptations
......................... 100
6.4
Developmental Adaptations
......................... 101
6.5
Cultural Adaptation
................................ 101
6.5.1
Traditions and Imprinting
..................... 102
6.5.2
Conformism
and the Social Interaction Effect
.... 102
Contents
XI
6.5.3
Communication
Standards.....................104
6.5.4 Technical Standards ..........................105
6.6
The Costs of
Adaptation............................106
6.7
Weighing the Benefits and Costs
.....................107
6.8
Pricing to Market
..................................108
References
.............................................110
7
Multinational Formation
.............................
Ill
7.1
Examples of Real World Multinational Forms
..........
Ill
7.1.1
Mercedes-Benz
...............................
Ill
7.1.2
Nestle s Food Products
........................112
7.1.3
Mattel s Barbie
...............................112
7.2
Multinational Business Strategy
....................113
7.3
Combining the Four Elements
.......................117
7.4
Multinational Corporate Strategy
....................120
7.4.1
Forms for Two Vertically Related Products
......120
7.4.2
Three Product Forms
.........................125
7.5
Revisiting the Exemplars
............................ 130
References
.............................................131
8
Internalization
.......................................133
8.1
Asset Heavy or Asset Light?
.........................133
8.2
Organizing Business Relationships
....................135
8.3
Problems with Spot Transactions
.....................136
8.3.1
Relationship-Specific Investment
................136
8.3.2
Downstream Incentive Problems
................137
8.3.3
Information Transfer
..........................138
8.3.4
Reputation Transfer
..........................140
8.4
Contracts Versus Internalization
.....................141
8.5
Internal Allocation of Resources
......................144
References
.............................................148
9
Competitive Interactions
.............................149
9.1
Motivating Examples
...............................149
9.1.1
SUVs in the USA
.............................149
9.1.2
Retail in China
...............................150
9.2
Key Concepts
......................................151
9.2.1
Sources of Strategic Complementarity
...........152
9.2.2
Sources of First-Mover Advantages
..............157
9.3
Multinational Location Games
.......................159
References
.............................................166
XII Contents
10
Foreign Exchange Risk
...............................167
10.1
Exchange Rate Systems
.............................168
10.2
Fundamental Valuation
.............................170
10.2.1
Parity (Price) Standards
.......................171
10.2.2
Equilibrium (Quantity) Standards
..............177
10.3
Responses to Exchange Rate Risk
....................180
11
Political Risk
........................................181
11.1
Political Analysis
...................................181
11.2
Political Strategy
..................................183
11.2.1
Understand Host-Country Objectives
............183
11.2.2
Catalogue Host-Country Policy Instruments
......184
11.2.3
Calculate Host-Country Bargaining Power
.......184
11.2.4
Enhance the Firm s Own Strategic Position
......185
References
.............................................187
12
International Taxation
...............................189
12.1
Jurisdiction: Who Taxes Whom
......................189
12.2
Simple Algebra of International Taxation
..............190
12.3
Taxation of MNCs Earnings from Abroad
.............193
12.4
Withholding Taxes
.................................196
12.5
Tax Reduction Strategies
............................197
12.5.1
Transfer Pricing
..............................197
12.5.2
Thin Capitalization
...........................199
12.5.3
Tax Havens
..................................199
References
.............................................201
13
Expatriate Assignment
...............................203
13.1
Typical Features of Expatriate Assignments
...........203
13.1.1
Compensation
................................203
13.1.2
Expatriate Life
...............................205
13.2
Selection of Managers in Foreign Locations
............206
13.2.1
Advantages of Expats
.........................206
13.2.2
Advantages of Locals
..........................206
13.2.3
Strategy and Staffing
..........................207
head
e,
Elements
of Multinational
Strategy
:
This textbook on international business integrates the academic study
of international trade and foreign direct investment with the actual
strategic and operational decisions of exporters and multinational
enterprises. The book aims to merge managerial decision making in
the internationally oriented firm with the conceptual tools provided
by international economics.
The book proceeds as follows. Like most firms, we begin with
exporting and importing, and tackle issues raised by overseas invest¬
ment later. We first analyze the gains from trade and then enumerate
the many costs of cross-border goods and service transactions. Next
we apply the four elements of multinational strategy
-
factor advan¬
tages, trade costs, scale economies, and market sizes
-
to the decision
of which multinational form best suits each firm. We then take up
issues of central importance to firms that invest overseas: exchange
rate risk, political risk, taxation, and expatriate assignments.
|
adam_txt |
Contents
Business
Across Borders
. 1
1.1
Overview of International Business
. 1
1.1.1
What Makes a Business Transaction
"International"?
. 2
1.1.2
Types of Transaction
. 3
1.1.3
Types of Entities
. 6
1.2
Six Forms of Separation
. 7
1.2.1
Political Separation
. 8
1.2.2
Physical Separation
. 9
1.2.3
Relational Separation
. 11
1.2.4
Environmental Separation
. 12
1.2.5
Developmental Separation
. 12
1.2.6
Cultural Separation
. 18
1.3
Looking Forward
. 22
References
. 22
Gains from Trade
. 25
2.1
Comparative Advantage in the Short Run
. 26
2.2
Comparative Advantage in the Long Run
. 28
2.3
The Shoe Story and Economic Reality
. 31
2.4
From Comparative to Competitive Advantage
. 32
2.5
Shoe Story II: Returns to Scale
. 33
References
. 37
Factor Advantages
. 39
3.1
Factor Abundance
. 39
3.2
The Case of Cashmere
. 44
3.3
Factor Quality
. 45
X
Contents
3.4 Dynamics
of Comparative Advantage
. 48
References
. 53
4
Trade Costs
. 55
4.1
Physical Separation and the Distance Effect
. 55
4.1.1
Freight Costs
. 57
4.1.2
Time Costs
. 60
4.1.3
Travel and Communication Costs
. 62
4.2
Political Separation and the Border Effect
. 63
4.2.1
Estimated Border Effects
. 64
4.2.2
Trade Policy Barriers
. 66
4.2.3
Currency Conversion Costs
. 66
4.3
Relational Separation and Transaction Costs
. 67
Appendix: INCO Terms
. 72
References
. 74
5
Trade Rules
. 75
5.1
National Trade Policies
. 75
5.1.1
Standard Customs Procedures
. 75
5.1.2
Special Import Measures
. 78
5.2
The World Trade Organization
. 79
5.3
Dumping
. 81
5.3.1
Developments in Antidumping Policy
. 81
5.3.2
Antidumping Procedures in the US,
EU,
and
Canada
. 82
5.3.3
Strategies for Coping with Antidumping
. 85
5.4
Subsidies and Countervailing Duties
. 85
5.5
Safeguards
. 86
5.6
Disguised Protection
. 87
5.7
Preferential Trade Agreements
. 89
5.7.1
The European Union
. 90
5.7.2
The North American Free Trade Agreement
. 92
References
. 93
6
Market Adaptation
. 95
6.1
The Levitt Argument
. 95
6.2
Examples of Adaptation
. 97
6.3
Environmental Adaptations
. 100
6.4
Developmental Adaptations
. 101
6.5
Cultural Adaptation
. 101
6.5.1
Traditions and Imprinting
. 102
6.5.2
Conformism
and the Social Interaction Effect
. 102
Contents
XI
6.5.3
Communication
Standards.104
6.5.4 Technical Standards .105
6.6
The Costs of
Adaptation.106
6.7
Weighing the Benefits and Costs
.107
6.8
Pricing to Market
.108
References
.110
7
Multinational Formation
.
Ill
7.1
Examples of Real World Multinational Forms
.
Ill
7.1.1
Mercedes-Benz
.
Ill
7.1.2
Nestle's Food Products
.112
7.1.3
Mattel's Barbie
.112
7.2
Multinational "Business" Strategy
.113
7.3
Combining the Four Elements
.117
7.4
Multinational Corporate Strategy
.120
7.4.1
Forms for Two Vertically Related Products
.120
7.4.2
Three Product Forms
.125
7.5
Revisiting the Exemplars
. 130
References
.131
8
Internalization
.133
8.1
Asset Heavy or Asset Light?
.133
8.2
Organizing Business Relationships
.135
8.3
Problems with Spot Transactions
.136
8.3.1
Relationship-Specific Investment
.136
8.3.2
Downstream Incentive Problems
.137
8.3.3
Information Transfer
.138
8.3.4
Reputation Transfer
.140
8.4
Contracts Versus Internalization
.141
8.5
Internal Allocation of Resources
.144
References
.148
9
Competitive Interactions
.149
9.1
Motivating Examples
.149
9.1.1
SUVs in the USA
.149
9.1.2
Retail in China
.150
9.2
Key Concepts
.151
9.2.1
Sources of Strategic Complementarity
.152
9.2.2
Sources of First-Mover Advantages
.157
9.3
Multinational Location Games
.159
References
.166
XII Contents
10
Foreign Exchange Risk
.167
10.1
Exchange Rate Systems
.168
10.2
Fundamental Valuation
.170
10.2.1
Parity (Price) Standards
.171
10.2.2
Equilibrium (Quantity) Standards
.177
10.3
Responses to Exchange Rate Risk
.180
11
Political Risk
.181
11.1
Political Analysis
.181
11.2
Political Strategy
.183
11.2.1
Understand Host-Country Objectives
.183
11.2.2
Catalogue Host-Country Policy Instruments
.184
11.2.3
Calculate Host-Country Bargaining Power
.184
11.2.4
Enhance the Firm's Own Strategic Position
.185
References
.187
12
International Taxation
.189
12.1
Jurisdiction: Who Taxes Whom
.189
12.2
Simple Algebra of International Taxation
.190
12.3
Taxation of MNCs' Earnings from Abroad
.193
12.4
Withholding Taxes
.196
12.5
Tax Reduction Strategies
.197
12.5.1
Transfer Pricing
.197
12.5.2
Thin Capitalization
.199
12.5.3
Tax Havens
.199
References
.201
13
Expatriate Assignment
.203
13.1
Typical Features of Expatriate Assignments
.203
13.1.1
Compensation
.203
13.1.2
Expatriate Life
.205
13.2
Selection of Managers in Foreign Locations
.206
13.2.1
Advantages of Expats
.206
13.2.2
Advantages of Locals
.206
13.2.3
Strategy and Staffing
.207
head
e,
Elements
of Multinational
Strategy
:
This textbook on international business integrates the academic study
of international trade and foreign direct investment with the actual
strategic and operational decisions of exporters and multinational
enterprises. The book aims to merge managerial decision making in
the internationally oriented firm with the conceptual tools provided
by international economics.
The book proceeds as follows. Like most firms, we begin with
exporting and importing, and tackle issues raised by overseas invest¬
ment later. We first analyze the gains from trade and then enumerate
the many costs of cross-border goods and service transactions. Next
we apply the four elements of multinational strategy
-
factor advan¬
tages, trade costs, scale economies, and market sizes
-
to the decision
of which multinational form best suits each firm. We then take up
issues of central importance to firms that invest overseas: exchange
rate risk, political risk, taxation, and expatriate assignments. |
any_adam_object | 1 |
any_adam_object_boolean | 1 |
author | Head, Keith |
author_GND | (DE-588)124083358 |
author_facet | Head, Keith |
author_role | aut |
author_sort | Head, Keith |
author_variant | k h kh |
building | Verbundindex |
bvnumber | BV022821551 |
classification_rvk | QP 305 |
ctrlnum | (OCoLC)229936031 (DE-599)DNB984787453 |
dewey-full | 333.88 382.1042 |
dewey-hundreds | 300 - Social sciences |
dewey-ones | 333 - Economics of land and energy 382 - International commerce (Foreign trade) |
dewey-raw | 333.88 382.1042 |
dewey-search | 333.88 382.1042 |
dewey-sort | 3333.88 |
dewey-tens | 330 - Economics 380 - Commerce, communications, transportation |
discipline | Wirtschaftswissenschaften |
discipline_str_mv | Wirtschaftswissenschaften |
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id | DE-604.BV022821551 |
illustrated | Illustrated |
index_date | 2024-07-02T18:40:13Z |
indexdate | 2024-07-09T21:06:54Z |
institution | BVB |
isbn | 9783540447658 3540447652 9783540744382 354074438X |
language | English |
oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016026900 |
oclc_num | 229936031 |
open_access_boolean | |
owner | DE-92 DE-N2 DE-1051 DE-12 DE-703 DE-739 DE-2070s DE-384 DE-521 |
owner_facet | DE-92 DE-N2 DE-1051 DE-12 DE-703 DE-739 DE-2070s DE-384 DE-521 |
physical | XII, 208 S. graph. Darst. 235 mm x 155 mm |
publishDate | 2007 |
publishDateSearch | 2007 |
publishDateSort | 2007 |
publisher | Springer |
record_format | marc |
spelling | Head, Keith Verfasser (DE-588)124083358 aut Elements of multinational strategy Keith Head Berlin [u.a.] Springer 2007 XII, 208 S. graph. Darst. 235 mm x 155 mm txt rdacontent n rdamedia nc rdacarrier Strategisches Management (DE-588)4124261-0 gnd rswk-swf Multinationales Unternehmen (DE-588)4075092-9 gnd rswk-swf Theorie (DE-588)4059787-8 gnd rswk-swf Welthandel (DE-588)4065365-1 gnd rswk-swf Direktinvestition (DE-588)4070496-8 gnd rswk-swf Multinationales Unternehmen (DE-588)4075092-9 s Strategisches Management (DE-588)4124261-0 s DE-604 Welthandel (DE-588)4065365-1 s Direktinvestition (DE-588)4070496-8 s Theorie (DE-588)4059787-8 s Digitalisierung UB Passau application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016026900&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis Digitalisierung UB Passau application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016026900&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Klappentext |
spellingShingle | Head, Keith Elements of multinational strategy Strategisches Management (DE-588)4124261-0 gnd Multinationales Unternehmen (DE-588)4075092-9 gnd Theorie (DE-588)4059787-8 gnd Welthandel (DE-588)4065365-1 gnd Direktinvestition (DE-588)4070496-8 gnd |
subject_GND | (DE-588)4124261-0 (DE-588)4075092-9 (DE-588)4059787-8 (DE-588)4065365-1 (DE-588)4070496-8 |
title | Elements of multinational strategy |
title_auth | Elements of multinational strategy |
title_exact_search | Elements of multinational strategy |
title_exact_search_txtP | Elements of multinational strategy |
title_full | Elements of multinational strategy Keith Head |
title_fullStr | Elements of multinational strategy Keith Head |
title_full_unstemmed | Elements of multinational strategy Keith Head |
title_short | Elements of multinational strategy |
title_sort | elements of multinational strategy |
topic | Strategisches Management (DE-588)4124261-0 gnd Multinationales Unternehmen (DE-588)4075092-9 gnd Theorie (DE-588)4059787-8 gnd Welthandel (DE-588)4065365-1 gnd Direktinvestition (DE-588)4070496-8 gnd |
topic_facet | Strategisches Management Multinationales Unternehmen Theorie Welthandel Direktinvestition |
url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016026900&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016026900&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA |
work_keys_str_mv | AT headkeith elementsofmultinationalstrategy |