The Theory of the Firm,the Theory of Competition and the Transnational Corporation 公司理论.

The Theory of the Firm,the Theory of Competition and the Transnational Corporation 公司理论.
The Theory of the Firm,the Theory of
Competition and the Transnational
Corporation
University of Massachusetts at Boston,Department of Economics,100 Morrissey
Boulevard,Boston,MA 02125–3393,USA
Coase’s 1937 paper on ‘The Nature of the Firm’ formed the basis of the transaction-cost and
internalization theories of transnational enterprises in the 1970s through 1990s.These
emphasized the problem of firms transferring intangible assets across national borders.
Newer theories of the firm adopt resource-based Penrosian,knowledge-based,capabilities
and evolutionary perspectives,yet most continue to explain the international firm as a function
of transaction-cost economizing.It is argued that Coase’s intention was to present a
theory of the firm abstracted from its competitive environment.The application of this
approach to a theory of the transnational corporation (TNC) is flawed because it cannot
explain the TNC without reference to competitive conditions.This leaves us with incomplete
theories of multinational firms,because they address transaction-cost problems and solutions
to the exclusion of many other competitive considerations that must influence the
transnational step in the firm’s evolution.The newer knowledge-based theories of the firm
represent progress because they focus on the institutional details of dynamic firm investment
in the intangible or knowledge-based competitive assets by which firms transform their
environments.Most recently,theory has begun to emphasize the advantages and not just the
costs of internationalization.Additionally,the necessity to address the juxtaposition of
internalization and externalization by global firms provides a context for creating a dynamic
explanation of both.The key is to recognize the process of standardization as a part of
the process of innovation at the heart of learning-based theories.This can help to explain
the hierarchical division of labor both within and between firms.
KEY WORDS Transnational corporation,Multinational corporation,Multinational
enterprise,Transaction costs,Knowledge-based theory,Internalization,
Outsourcing
主要是标题阿.后面的翻不翻无所谓啦.
标题一定要翻译好阿.后面翻译有追加分的.