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Published in:
2015 | OriginalPaper | Chapter
Bounded Reality: A New Behavioral Foundation for MNE Governance
Authors : Alain Verbeke, Nathan S. Greidanus
Published in: Transnational Corporations and Transnational Governance
Publisher: Palgrave Macmillan UK
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Transaction cost economics (TCE) has fast become one of the most influential theories within the social sciences (Carroll & Teece, 1999; Carter & Hodgson, 2006). Its applications in the international business (IB) context have shown its relevance not only to explaining and predicting a wide variety of IB phenomena, including, inter alia, the existence of multinational enterprises (MNEs) (Buckley & Casson, 1976; Rugman, 1980; Teece, 1981; Hennart, 1982), MNE foreign entry mode decisions, and interactions with external parties (Beamish & Banks, 1987; Hennart, 1988; Buckley & Casson, 1998a; Chen, 2005), but also to MNE internal governance choices (Hennart, 1993; Verbeke & Kenworthy, 2008).