The largest transnational corporations and corporate strategies

Although there are many TNCs in the world, FDI is actually concentrated in relatively few of them. In many countries, only a small number of firms account for the bulk of outward FDI (UNCTAD, 1993a). This chapter looks at the largest non-financial TNCs in terms of foreign assets, firstly in the world as a whole, then secondly in developing countries and – for the first time – in countries of Central Europe. It next proceeds to examine mergers and acquisitions (M&As), an activity in which the largest TNCs are leading actors and which was the driving force behind the growth of FDI in 1998. The chapter then turns to consider another way in which firms expand abroad, a way which is becoming increasingly important: strategic partnering, and examines how such partnerships, as well as M&As, affect the competitive environment of industries.

Related Subject(s): International Trade and Finance
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