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The Multinational Enterprise

Theory and History

Mark Casson

This book summarises Mark Casson’s recent research on the multinational enterprise. This work is firmly rooted in history and examines the evolution of the internalisation theory of the multinational enterprise over the past forty years and, in the light of this, considers its potential for further development. The book also explores internationalisation theory in respect to marketing and brands, the supply chain, risk management as well as methodology.
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Chapter 11: Foreign direct investment in high-risk environments: A theoretical perspective

Mark Casson and Teresa da Silva Lopes


This chapter examines why some foreign investors enter high-risk environments that other investors avoid. It considers why the success of these firms often fails to encourage other firms to enter. It identifies risk-management skills that some investors possess but many others lack. These skills allow firms to devise and implement measures to prevent and mitigate adverse outcomes. It offers a typology of risky situations and shows how different combinations of risk management strategies can be used to control them. The behaviour of successful foreign investors in high-risk environments can therefore be explained in terms of specific host-country risk factors and the capabilities of firms in managing the risks associated with them.

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