Global Business

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Global Business

Past, Present and Future

9781035308033 Edward Elgar Publishing
Mark Casson, Professor of Economics and Director, Centre for Institutions and Economic History, University of Reading, UK
Publication Date: 2023 ISBN: 978 1 03530 803 3 Extent: 350 pp
This fascinating book examines international business and multinational enterprise as part of a bigger picture, considering the importance of two main components: space and time. Summarising the past five years, Mark Casson reviews the changing role of multinational enterprises within the global economy and how leading firms have generated profitability and growth not only from innovations in technology and marketing, but also by exploiting legal loopholes in tax and regulatory systems.

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This fascinating book examines international business and multinational enterprise as part of a bigger picture, considering the importance of two main components: space and time. Summarising the past five years, Mark Casson reviews the changing role of multinational enterprises within the global economy and how leading firms have generated profitability and growth not only from innovations in technology and marketing, but also by exploiting legal loopholes in tax and regulatory systems.

This book examines the evolution of international business activity since the Middle Ages and analyses current trends within this long-term perspective. By seeking out low-cost sources of labour, international businesses have stimulated growth in developing countries but created industrial wastelands in mature economies. Global Business proposes an integrated social scientific approach to analysing the economic, social and political consequences of these continuing trends in the international business system.

With a wide-ranging review of the latest thinking in the field, this book identifies promising research avenues and agendas for the future and will be an invaluable resource for students and scholars of business management and economic finance. Its practical guidance will also benefit policymakers and practitioners with a focus on business development.
Critical Acclaim
‘Mark Casson remains the leading intellectual in international business research. Written in plain language, compellingly argued and charting a new path to think about international business, Casson’s book on Global Business is not for aficionados of mundane echo chambers, but for those who want to change the status quo.’
– Alain Verbeke, University of Calgary, Canada

‘From a multi-level perspective, with time thrown in, Professor Casson provides much needed light and shade on the genesis of theory within international business (IB) and the academic field’s unwelcome narrowing. His expositions and excursions are an invitation to the reader to think, and to be part of the solution.’
– Jeremy Clegg, Leeds University Business School, UK

‘Mark Casson put an intellectual stamp on the theory of global business fifty years ago when introducing internalization theory. In this book, Casson continues his relentless and ambitious effort to develop a social science of international business by integrating history, location choice, and theories of decision making and complexity.’
– Sjoerd Beugelsdijk, University of South Carolina, US

‘Mark Casson is a thought leader in the true sense of the term. Where others rely on buzzwords, his work is based on analysis and logic. Where others follow fads and fashion, he focuses on issues and problems that are so fundamental that they remain important for scholars and practitioners long after his work has been published.

Therefore, I read this new work by Professor Casson with great interest. He brings a welcome integration of international politics and international relations with international business, a synthesis that was long overdue. He intertwines international business analysis with international strategy and breaks down siloed thinking in the process. And he steps back to take a much longer term view of international business by using the lens and methodology of business history. While I do not agree with everything in this book, Professor Casson’s logic is, as always, impeccable. If one accepts his assumptions, his conclusions cannot be denied.’
– Ram Mudambi, Temple University, US
Contributors
Contents
Contents: Introduction PART I POLICY ISSUES FOR THE FUTURE 1. International business in an age of political turbulence 2. Crises in international business: a new perspective 3. International rivalry and global business leadership: an historical perspective 4. Multinational enterprises and international cartels: the strategic implications of de-globalisation With Peter J. Buckley PART II THE PRESENT AGENDA: INNOVATIONS IN RESEARCH METHODS 5. The internalisation theory of the multinational enterprise: past, present and future With Peter J. Buckley 6. The theory of international business: the role of economic models 7. Complexity in international business: the implications for theory With Yutong Li. Appendix: case study of the measurement of structural complexity in a simple IB model 8. The geometry of international business PART III PRESENT CHALLENGES: INTEGRATING STRATEGY AND MANAGEMENT 9. Decision making in international business With Peter J. Buckley 10. Extending internalisation theory: integrating international business strategy with international management 11. Organizational innovation in the multinational enterprise: internalization theory and business history With Geoffrey Jones and Teresa Lopes 12. The making of global business in long-run perspective 13. The role of time in international business: an historical perspective With Teresa da Silva Lopes Index
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