Jacobsen, Lowell R.; Casson, Mark - In: Managerial and Decision Economics 36 (2015) 1, pp. 55-66
The internalisation theory of the multinational enterprise (MNE) is a significant intellectual legacy of Ronald Coase. US direct investment in Europe became highly political in the 1960s, and neoclassical trade theory had no explanation. A theory of the multiplant enterprise was required, and...