The Global Factory
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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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Chapter 11: The economic geography of offshore incorporation in tax havens and offshore financial centres: the case of Chinese MNEs

Networked Multinational Enterprises in the Modern Global Economy

Peter J. Buckley, Dylan Sutherland, Hinrich Voss and Ahmad El-Gohari


A large share of the outward foreign direct investment (FDI) of emerging market MNEs is directed towards a small number of specific tax havens and offshore financial centres. The establishment of investment-holding companies for taxation related purposes is frequently adduced as a key motivation ('round-tripping') for these investments. This explanation, however, accounts for neither the concentration of such investments in specific havens nor the comparatively large national shares of such investments that originate from emerging markets. Here we draw from and build links between the geography of money and finance and international business literatures to conceptually and empirically explore this prominent, if somewhat disregarded, feature of global FDI flows.

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