The American Corporation Today

By Carl Kaysen | Go to book overview

porations. Countervailing pressures from the United States are unlikely to offset the trend; and, in any case, they would only increase the tensions to which the enterprises were exposed. Only mediation through international agreement can provide a long-term response. But for the present, neither the U.S. government nor the U.S.-based multinational enterprises exhibit much desire to move in that direction.


Notes

My thanks to Kelly Corbet, Roberto Martinez, and Jeremy Tachau for their research support. I am also grateful to my coauthors and collaborators in the preparation of this volume, whose cogent comments helped sharpen various points in the presentation.

1.
James R. Hines Jr., "The Flight Paths of Migratory Corporations", Journal of Accounting, Auditing, and Finance 6, no. 4 (fall 1991): 468.
2.
World Investment Directory: Developed Countries, vol. 3, ( New York: United Nations, 1993), p. 499.
3.
World Investment Report, 1993 ( New York: United Nations, 1993), pp. 26-27 provides such data for the twenty-seven largest U.S.-based enterprises.
4.
The data reported here are drawn from various issues of U.S. Parent Companies and their Foreign Affiliates ( Washington, D.C.: U.S. Department of Commerce, Bureau of Economic Analysis).
5.
World Investment Report, 1993, p. 25, based on unpublished data received from the U.S. Department of Commerce.
6.
World Investment Report 1993, p. 159.
7.
World Investment Report, 1993, p. 26 and passim.
8.
See, e.g., John H. Dunning, ed., The Theory of Transnational Corporations ( New York: Routledge, 1993).
9.
Raymond Vernon, "Organizational and Institutional Responses to International Risk", in Managing International Risk, ed. Richard J. Herring ( New York: Cambridge University Press, 1983), pp. 191-216.
10.
Adolf A. Berle Jr., and Gardiner C. Means, The Modern Corporation and Private Property ( New York: Macmillan, 1935).
11.
The legal profession, however, is beginning to recognize the need for new legal doctrines that reflect the existence of the multinational enterprise. See, e.g., Phillip I. Blumberg, The Multinational Challenge to Corporate Law: The Search for a New Corporate Personality ( New York: Oxford University Press, 1993).
12.
The literature is voluminous. For a sampling, see R. J. Barnet and R. E. Müller , Global Reach ( New York: Simon and Schuster, 1974); Kari Levitt, Silent Surrender: The Multinational Corporation in Canada ( New York: St. Martin's Press, 1970); L. G. Countinbo, The Internationalization of Oligopoly Capital ( Ann Arbor,

-97-

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