The field of international business made its entry into the academic stage in the 1960s with the emergence of a new business entity—the multinational enterprise (MNE)—which posed new questions regarding the internationalization of firms for research scholars.1 Why did firms run the risks of internationalizing? What were the sources of competitive advantage for MNEs over their domestic rivals? Were there distinctive patterns in the way that firms internationalized, and did these differ according to the national origins of MNEs? These were some of the “big questions” that launched and sustained the field of international business studies during its first few decades.

Impact of Globalization

The end of the World Wars led to an aggressive ...

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