From FDI to the MNE: Hymer and the roots of ownership advantage

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Chapter 2 in The Development of International Business, 2017, pp 13-25 from Edward Elgar Publishing

Abstract: Firstly outlines aspects of Hymer’s critique of the macro-level theory of FDI. Then points to how elements of this critique point not only to the need for a ‘new’ micro-level theory of the MNE but also how they feed directly into aspects of this new theory; FDI requires firms with unique sources of firm-specific competitiveness (Dunning’s ownership advantages); it is most likely to occur in concentrated market structures. Proceeds to develop the concept of OAs; usually these are intangible attributes that are expensive to create and inexpensive to use once possessed. Then shows how this can feed into the model of MNEs’ prevalence in concentrated-industry markets and to oligopoly-based competition.

Keywords: Business and Management; Economics and Finance (search for similar items in EconPapers)
Date: 2017
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