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

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