Individuals and organizations will exhaust all available gains from trade and the resulting allocation of resources will be efficient when allocation will reflect accurately society's opportunities and preferences – including preferences related to individuals' ethical standards. Which behaviours are ethical and which are unethical? International society due to globalization has to develop and establish common ethical principles of behaviour in social life taking into account religion and world civilization. The basic values of humans and life as creation have to be identical all over the world, which means that human behaviour should be similar all over the world. So, similar actions should be ethical or unethical similarly all over the world and principles established by different kinds of societies should not alter the basis of values of life and humanity.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Purpose-The analysis of the role of foreign direct investment (FDI) in the emergence and development of digital economy. Design/methodology/approach-Examination of the developments of FDI and the new destinations explained by the liberalization measures undertaken by governments and inward investment agencies in globalization. Findings-While FDI does displace some exports, it also creates a number of reverse imports. Companies are forced to improve their managerial efficiency. The elimination of internal barriers to trade and capital mobility has been accompanied by a rapid growth of multinational enterprises (MNEs) in EU. Originality/value-The development of e-MNEs will bring different utilization of the production plants and use of logistics to distribute tangible goods, while intangible goods will be distributed by very advanced technology centres based on home locations. The digital economy should not be confined just to e-business and e-commerce.

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Presents an updated version of a paper given by the author at an international conference in Athens 2000. Briefly outlines the development of the internet and e‐commerce and the effect of globalization. Considers the potential for the EU to standardize rules and advance its economic integration agenda. Looks at present EU laws in this area. Covers the unicitral model law on electronic commerce, its merits and its problems. Discusses personal jurisdiction under traditional rules and cyberspace transactions. Concludes that existing legislation must be re‐evaluated in the light of technological advances, the need for a more mobile kind of legal person and the worldwide nature of transactions across territorial boundaries, paperless contracts and digital signatures and the use of self‐regulation are also covered.