If one was to examine the academic literature for an explanation of the restructuring that we have witnessed in the last decade, the most prominent explanation to emerge would be the agency explanation. According to this explanation, firms with poor internal governance devices fail to monitor...

There is a well-established line of thinking on strategy and structure in the MNE, beginning with John Stopford's doctoral thesis work (Stopford and Wells, 1972) and moving through the work of Egelhoff (1982), Daniels Pitts and Tretter (1984) and others to Ghoshal and Nohria (1993). However,...