Searching for a dynamic theory of the multinational enterprise: A transaction cost model
构建了一个交易成本模型，解释跨国企业在全资子公司和许可经营两种治理模式间的动态转换，识别影响多期决策的组织和环境因素。
This paper constructs a transaction cost model that provides an explanation for the transition between two distinct governance modes for serving a foreign market; a wholly owned subsidiary and licensing. The paper initially outlines a single-period model of the factors that influence a firm's choice of governance mode. The model is then extended, first to incorporate a temporal perspective and then a dynamic perspective. The completed model identifies organizational and environmental contingencies that shape dynamic multi-period decision-making for the choice of governance mode.