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| Tekijä: | Rangan, S. |
| Otsikko: | Do multinationals operate flexibly? Theory and evidence. |
| Lehti: | Journal of International Business Studies
1998 : VOL. 29:2, p. 217-237 |
| Asiasana: | MULTINATIONAL COMPANIES FLEXIBILITY EXCHANGE RATES |
| Kieli: | eng |
| Tiivistelmä: | The author examines here the question: Do multinational enterprises operate flexibly, i. e., do they shift production in response to currency changes? He presents three theoretical perspectives. Flexibility optimism, premised on inertia and internal opportunism, takes an organizational perspective and predicts sticky responses. Flexibility realism, premised on the view that to be flexible in the current period multinational enterprises need to have planned and invested accordingly in previous periods, predicts positive, but relatively modest, respones. Empirical analysis spanning the years 1977-1993 finds that multinational enterprises systematically exploit currency shifts, but even in the face of large exchange rate changes, their operational responses are relatively modest. The results appear most consistent with flexibly realism, and this hypothesis is selected over the alternatives considered. |
SCIMA