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Foreword

Networked Multinational Enterprises in the Modern Global Economy

Peter J. Buckley

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The Global Factory

Networked Multinational Enterprises in the Modern Global Economy

Peter J. Buckley

This key new book synthesises Peter Buckley's work on ‘the global factory’ – the modern networked multinational enterprise. The role of interfirm networks, entrepreneurship and cooperation in the creation and management of global factories leads to a discussion of their governance, internal knowledge transfer strategies and performance, including their role in potentially combating societal failures. Emerging country multinationals are examined as a special case of global factories with a focus on Indian and Chinese multinationals, their involvement in tax havens and offshore financial centres, the performance and processes of their acquisition strategies – all seen as key aspects of globalisation.
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Global Interfirm Networks: The Division of Entrepreneurial Labor Between MNEs and SMEs

Networked Multinational Enterprises in the Modern Global Economy

Peter J. Buckley and Shameen Prashantham

We advance a multifaceted and spatially anchored account of the who, the how, and the where of global interfirm networks through our novel conceptualization of the division of entrepreneurial labor between multinational enterprises (MNEs) and small and medium-size enterprises (SMEs). The capability dimension pertains to the differential capability sets of SMEs and MNEs in exploration and exploitation, repsectively (the who). The connectivity dimension posits network orchestration/participation and dialogue as differentially addressing the distinct facets of interdependence–viz., mutual dependence and power imbalance, respectively (the how). The contextuality dimension concerns the differential approaches adopted in advanced versus emerging economies (the where).

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The Governance of the Global Factory: Location and Control of World Economic Activity

Networked Multinational Enterprises in the Modern Global Economy

Peter J. Buckley and Roger Strange

Recent years have witnessed major changes in the global location of economic activity, with the emerging economies assuming greater shares relative to the advanced economies. These developments have led many authors to refer to the idea of the global factory. But little attention has been given to who has control over the geographically dispersed activities—or, to put it another way, about the governance of the global factory. Have the changes in the global location of economic activity come about primarily through the growth of locally owned firms in the emerging economies, or through increased FDI by MNEs from the advanced economies, or through the proliferation of outsourcing arrangements coordinated by firms in the advanced economies? These control/governance issues have profound implications for the capture of the profits/rents earned in global value chains, and hence for the global distribution of income. This paper explores these issues, and considers who has benefited most from the contemporary phase of globalization.

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Introduction

Networked Multinational Enterprises in the Modern Global Economy

Peter J. Buckley