In this paper, we address the geographic distribution of sales of some of the world’s largest multinational enterprises (MNEs), with a focus on the share of each leg of the ‘Triad’ (the North-American Free Trade Agreement or NAFTA-zone, the European Union - E.U., and Asia) in these...

We are pleased that Dunning et al. (2006) have provided macro (country) level data demonstrating the increased internationalization of many nations over the past decade. We also appreciate their findings lending support to our perspective on the regional nature of world business. Our work was...

It is widely accepted that multinational enterprises (MNEs) are the key drivers of globalization. The ultimate test to assess the level of globalization is the actual penetration of markets across the globe, especially in the broad ‘triad’ markets of NAFTA, the European Union and Asia. Yet,...

This paper develops new theory to help explain the recent empirical work that demonstrates the profound lack of global sales, with 320 of the 380 largest firms in the world averaging 80% of their sales within their home region. Transaction cost economics (TCE) concepts are used to explain why...

Rugman and Verbeke (2002) established that Edith Penrose's contribution to the resource-based view in strategic management has been misunderstood by many scholars in the field. The present paper augments this analysis, and demonstrates that Penrose did not view the pursuit of rents as a...