In the debate on globalization it is often argued that multinational corporations (MNCs) have gained increasing power due to their growth and due to new global or transnational structures and strategies.(...)

...This article will argue that some very special characteristics of external growth are neglected by such theories as the eclectic paradigm (Dunning, 1993) or the internalization school (Buckley and Casson, 1976; Caves, 1986). The question arises whether these theories meet the claim oftheir...