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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 12: Foreign direct investment in high-risk environments: An historical perspective

Mark Casson and Teresa da Silva Lopes


Since the banking crisis of 2008 the global economy is perceived as riskier than before. Flows of foreign direct investment (FDI) have contracted, and firms that cannot manage risks have withdrawn from countries in which they previously invested. These problems are not new. For centuries, firms have invested in risky foreign environments. This chapter reviews the risk management strategies of foreign investors, using archival evidence and secondary sources. It distinguishes the different types of risks that investors face and the different strategies by which risks can be managed.

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