A Knowledge: Learning-Based Perspective on Foreign Direct Investment and the Multinational Enterprise

Pitelis, C

A Knowledge: Learning-Based Perspective on Foreign Direct Investment and the Multinational Enterprise

Pitelis, C

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Publisher:: Edward Elgar
Publication Type:: Chapter
Citation:: Innovation, Growth and Competitiveness: Dynamic Regions in the Knowledge-Based World Economy, 2010, 1, pp. 221 - 234
Issue Date:: 2010-01

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Field	Value	Language
dc.contributor.author	Pitelis, C	en_US
dc.contributor.editor	Nijkamp, P	en_US
dc.contributor.editor	Siedschlag, I	en_US
dc.date.issued	2010-01	en_US
dc.identifier.citation	Innovation, Growth and Competitiveness: Dynamic Regions in the Knowledge-Based World Economy, 2010, 1, pp. 221 - 234	en_US
dc.identifier.isbn	978-3-642-14964-1	en_US
dc.identifier.uri	http://hdl.handle.net/10453/29923
dc.description.abstract	We apply insights from Edith Penroses work to extant theories of Foreign Direct Investment (FDI) and the multinational enterprise (MNE) as developed by John Dunnings Ownership, Location, Internalization (OLI) Paradigm, to propose a novel knowledge-learning-based theory of FDI and the MNE. We suggest that the knowledge/learning-based approach has important implications with regard to the nature of, and the interactions between, O, L and I, and that it helps endogenize and integrate the three elements of Dunnings triad in the context of a dynamic, strategic and entrepreneurial perspective of the MNE. The learning-based perspective adds a cognitive dimension to the MNE and OLI. It supports a forward looking, synchronic decision making view, that may lead to apparently sub-optimal decisions, taken in view of anticipated changes, alongside strategic behaviour, aiming to effect such change, once decisions have been reached. It also helps explain new strategies of MNEs, which are harder to appreciate within the conventional paradigm.	en_US
dc.publisher	Edward Elgar	en_US
dc.relation.ispartof	Innovation, Growth and Competitiveness: Dynamic Regions in the Knowledge-Based World Economy	en_US
dc.relation.isbasedon	10.1007/978-3-642-14965-8_10	en_US
dc.title	A Knowledge: Learning-Based Perspective on Foreign Direct Investment and the Multinational Enterprise	en_US
dc.type	Chapter
utslib.location	Cheltenham	en_US
utslib.for	1502 Banking, Finance and Investment	en_US
utslib.citation.edition	1	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Management Discipline
utslib.copyright.status	closed_access
pubs.consider-herdc	false	en_US
pubs.edition	1	en_US
pubs.place-of-publication	Cheltenham	en_US

Abstract:

We apply insights from Edith Penroses work to extant theories of Foreign Direct Investment (FDI) and the multinational enterprise (MNE) as developed by John Dunnings Ownership, Location, Internalization (OLI) Paradigm, to propose a novel knowledge-learning-based theory of FDI and the MNE. We suggest that the knowledge/learning-based approach has important implications with regard to the nature of, and the interactions between, O, L and I, and that it helps endogenize and integrate the three elements of Dunnings triad in the context of a dynamic, strategic and entrepreneurial perspective of the MNE. The learning-based perspective adds a cognitive dimension to the MNE and OLI. It supports a forward looking, synchronic decision making view, that may lead to apparently sub-optimal decisions, taken in view of anticipated changes, alongside strategic behaviour, aiming to effect such change, once decisions have been reached. It also helps explain new strategies of MNEs, which are harder to appreciate within the conventional paradigm.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/29923