MNC Subsidiaries and Country Risk: Internalization as a Safeguard Against Weak External Institutions
研究了跨国公司在高风险国家设立子公司后，如何通过增加内部销售来应对国家风险，且政治策略经验丰富的公司这种应对较弱。
Country risk and foreign direct investment (FDI) are negatively associated, yet considerations such as rapid economic growth and lower factor costs are driving multinational corporations (MNCs) to significantly increase FDI into high-risk countries. How do MNCs deal with country risk on an ongoing basis after establishing majority or wholly owned operations? Analyses of 1983–96 data on a large sample of subsidiaries support our prediction that, under uncertainty, MNCs increase the extent of their within-firm sales. Trade internalization as a response to country risk is weaker for MNCs having greater experience deploying political strategies.