Handbook of the International Political Economy of the Corporation
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Handbook of the International Political Economy of the Corporation

Edited by Andreas Nölke and Christian May

Over the past few decades, corporations have been neglected in studies of international political economy (IPE). Seeking to demystify them, what they are, how they behave and their goals and constraints, this Handbook introduces the corporation as a unit of analysis for students of IPE. Providing critical discussion of their global and domestic power, and highlighting the ways in which corporations interact with each other and with their socio-political environment, this Handbook presents a thorough and up-to-date overview of the main debates around the role of corporations in the global political economy.
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Chapter 17: Power relations within multinational corporations

Glenn Morgan

Abstract

It is common to discuss multinationals as though they constitute a unified, single entity. This chapter unpacks that conception in two ways. Firstly, it shows that multinational corporations (MNCs) have become very complex organizational entities. The nature of their internationalization varies greatly in terms of the location of their assets, their people, their supply chains and their sources of funding. The impact of financialization and the drive to minimize tax liabilities by taking advantage of tax havens and legal arbitrage has created a shadow reality based on shell offices, opaque trust funds and special purpose financial vehicles which are connected to the MNC in various ways. Secondly, the chapter shows that this complexity leads to the formation of different interest groups within the MNC, especially between those actors embedded in the corporate headquarters (HQ) and those in local subsidiaries. The ability of local actors to resist, adapt or conform to HQ demands, drawing on a range of political and institutional resources, is explored in the chapter.

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