Economics of International Business : A New Research Agenda

Economics of International Business sets out a new agenda for international business research. Mark Casson asserts that it is time to move the subject on from sterile debates about transaction cost economies and resource-based theories of the firm. Instead of focusing on the individual firm, the new agenda focuses on the global systems view of international business. A static view of the firm's environment is replaced by a dynamic view which highlights the volatility of the international business environment. Coping with volatility requires entrepreneurial skills, flexibility and the need to synthesize information on a global basis. To co-ordinate the global system properly, entrepreneurs must co-operate through social networks of trust, as well as competing. Constructing a network of joint ventures, it is argued, is simply not enough. Building on his previous book, The Organization of International Business, Mark Casson shows that with suitable modifications, the methods of economics can be used to analyze all of these issues in a rigorous way. The tools of 'business strategy' are too clumsy to address the more subtle issues, while descriptive approaches fail to bring key issues into sharp relief. This book is indispensable reading for all researchers and practitioners in the international business field as well as economists and academics alike. This Is An Interesting Book On An Important Topic. . . Mikael Linden, Scandinavian Economic History Review This Book Is Indispensable Reading For All Researchers And Practitioners In The International Business Field As Well As Economists And Academics Alike. Giustificativo Pubblicato Sul Bollettino Del Cirt Economics Of International Business Sets Out A New Agenda For International Business Research. Mark Casson Asserts That It Is Time To Move The Subject On From Sterile Debates About Transaction Cost Economies And Resource-based Theories Of The Firm. Instead Of Focusing On The Individual Firm, The New Agenda Focuses On The Global Systems View Of International Business. A Static View Of The Firm S Environment Is Replaced By A Dynamic View Which Highlights The Volatility Of The International Business Environment. Coping With Volatility Requires Entrepreneurial Skills, Flexibility And The Need To Synthesize Information On A Global Basis. To Co-ordinate The Global System Properly, Entrepreneurs Must Co-operate Through Social Networks Of Trust, As Well As Competing. Constructing A Network Of Joint Ventures, It Is Argued, Is Simply Not Enough. Building On His Previous Book, The Organization Of International Business, Mark Casson Shows That With Suitable Modifications, The Methods Of Economics Can Be Used To Analyse All Of These Issues In A Rigorous Way. The Tools Of Business Strategy Are Too Clumsy To Address The More Subtle Issues, Whilst Descriptive Approaches Fail To Bring Key Issues Into Sharp Relief. This Book Is Indispensable Reading For All Researchers And Practitioners In The International Business Field As Well As Economists And Academics Alike. "Economics of International Business sets out a new agenda for international business research. Mark Casson asserts that it is time to move the subject on from sterile debates about transaction cost economies and resource-based theories of the firm. Instead of focusing on the individual firm, the new agenda focuses on the global systems view of international business. A static view of the firm's environment is replaced by a dynamic view which highlights the volatility of the international business environment. Coping with volatility requires entrepreneurial skills, flexibility and the need to synthesize information on a global basis. To co-ordinate the global systems properly, entrepreneurs must co-operate through social networks of trust, as well as competing. Constructing a network of joint ventures, it is argued, is simply not enough." "This book is indispensable reading for all researchers and practitioners in the international business field as well as economists and academics alike."--Jacket 1840643552......Page 1 Economics of International Business......Page 4 Contents......Page 6 Figures......Page 7 Tables......Page 9 Preface and acknowledgements......Page 10 1. Models of multinational enterprise: anew research agenda......Page 14 2. Foreign market entry: a formal extension of internalization theory......Page 44 3. The boundaries of firms: a global systems perspective......Page 71 4. Bounded rationality, meta-rationality and the theory of international business......Page 107 5. The organization of the multinational enterprise: an information cost approach......Page 130 6. International joint ventures......Page 174 7. Real options in international business......Page 202 8. Entrepreneurship and the international business system:developing the perspective of Schumpeter and the Austrianschool......Page 241 9. Networks in international business......Page 267 10. Conclusion: methodological issues in international business......Page 291 Index......Page 322 Edward Elgar Publishing 1840643552 1 Economics of International Business 4 Contents 6 Figures 7 Tables 9 Preface and acknowledgements 10 1. Models of multinational enterprise: anew research agenda 14 2. Foreign market entry: a formal extension of internalization theory 44 3. The boundaries of firms: a global systems perspective 71 4. Bounded rationality, meta-rationality and the theory of international business 107 5. The organization of the multinational enterprise: an information cost approach 130 6. International joint ventures 174 7. Real options in international business 202 8. Entrepreneurship and the international business system:developing the perspective of Schumpeter and the Austrianschool 241 9. Networks in international business 267 10. Conclusion: methodological issues in international business 291 Index 322 ISBN-13:,9781840643558 This work seeks to set out a new agenda for international business research. The author, Mark Casson, asserts that it is time to move the subject on from sterile debates about transaction cost economies and resource-based theories of the firm. Instead of focusing on the individual firm, the new agenda focuses on the global systems view of international business. A static view of the firm's environment is replaced by a dynamic view which highlights the volatility of the international business environment. Coping with volatility requires entrepreneurial skills, flexibility and the need to synthe. Cover; Copyright; Contents; Figures; Tables; Preface and acknowledgements; 1. Models of multinational enterprise: a new research agenda; 2. Foreign market entry: a formal extension of internationalization theory; 3. The boundaries of firms: a global systems perspective; 4. Bounded rationality, meta-rationality and the theory of international business; 5. The organization of the multinational enterprise: an information cost approach; 6. International joint ventures; 7. Real options in international business