This paper extends the internalization approach to the theory of the multinational enterprise (MNE) to include an expanded role for equity joint ventures. Using the transaction cost paradigm of Williamson, this paper explains why joint ventures may sometimes be preferred over wholly owned...

Few studies have explored how multinational firms (MNCs) use their experience when expanding abroad. According to the “knowledge projection” model of the MNC, appropriately disseminating industry experience, country experience and mode experience can a priori increase the chances of success...