This paper seeks to provide a rationale for changing trends in the flow and determinants of foreign direct investment (FDI) as a result of macro-economic and firm strategy considerations. We identify several factors that impact on such trends, and develop propositions that could explain the phenomenon generically. The study then provides preliminary empirical support for the propositions presented, and outlines the path for further research needed to investigate more causal links. The statistical analysis of investments by US multinational enterprises (MNEs) reveals significant changes in the regional distribution of FDI, and a change in some of its traditional determinants. Results show that US MNEs are now making increasing investments into Asia to exploit low wage levels and to secure entry into new markets. Journal of International Business Studies (2003), 34, 315–326. doi:10.1057/palgrave.jibs.8400034

There is growing recognition that firms in the contemporary business environment derive substantial and sustained competitive advantage from a bundle of intangible assets such as knowledge, networks and innovative capability. Measuring the return on such intangible assets has now become imperative for managers. The present manuscript focuses on the measurement of the return on marketing. We first discuss the conditions that make this task a high managerial priority. We then discuss measurement efforts to date, both in general management and marketing. We then offer a conceptual framework that places measurement efforts in a historical perspective. We conclude with a discussion on where the future of marketing metrics lies.

The Strategic Management Journal (SMJ) has now entered its third decade of publication and consistently ranks among the most influential journals in management. While several authors have examined the impact of SMJ vis-à-vis other management publications, few studies have examined the internal changes in the publication over time, particularly with regard to the diversity and content of the journal. The current study finds that there has been a significant shift in the number of authors, publication lags, reference lists, and page lengths in SMJ over the past 20 years, while the diversity of authorship has stayed relatively constant. There has also been a marked rise in the proportion of empirical papers being published. The implications of these results are discussed.

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The theory of the firm seeks to explain the existence and boundaries of the firm in relation to the market. Since the pioneering work of Coase (The nature of the firm. Economica, 4, 386–405, 1937), economics has developed a whole family of theories that focus on the ability of firms to economize on certain costs of using markets. More recently, researchers in strategic management have published several theories of the firm that have tended to emphasize the benefits of incorporation rather than the costs of using the market. Although researchers in the strategy profession have tentatively labeled their work as ‘moving towards’ a strategic theory of the firm, economists have been very critical of existing approaches. This paper seeks to begin ‘arriving’ at a strategic theory of the firm by addressing these criticisms and offering an integration of the strategic and economic perspectives within an institutional framework. The paper concludes with future directions for research in the theory of the firm.

bluffing, competitive behavior, ethics, performance, strategic decision making,

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