Транснационални корпорации и транзакционни разходи

Technological innovation brings down the costs of organizing activities within the firm, thus, providing transaction advantages for multinational firms which appear to be technological innovators. The multinational corporation is a complex hierarchical structure dislocated in many countries and replacing the international market in the process of allocating global resources. Confronted with the giant costs of using the mechanism of the global market multinational corporations often turn out to be monopolists rather than firms deliberately seeking to find a monopolistic or oligopolistic place on the market. The more expensive the relevant regional or national market in terms of the transaction cost level, the greater the advantage of the hierarchical structure over it and the weaker the autonomy of the firm subsidiaries on such markets. Multinational corporations tend to overcome the numerous risks and externalities of the global market through the mechanism of horizontal and vertical integration.