Between Local Mooring and Global Orientation: A Neo-Institutional Theory Perspective on the Contemporary Multinational Corporation^☆

We argue for major re-orientation when applying a neo-institutional perspective within the domain of international business (IB), and in research on the multinational corporation (MNC), in particular. On the one hand, we suggest re-conceptualizing MNCs as globally oriented organizations that nonetheless remain firmly anchored in local cultural settings. On the other hand, it seems crucial for institutionalist IB literature to engage more thoroughly with the core underlying assumptions, theoretical constructs, and recent extensions of neo-institutional theory. We present an overview and systematic evaluation of the current state of institutional approaches toward the MNC, and contrast it with research foci that will emerge from a phenomenological-institutional analysis.