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8 Cards in this Set
- Front
- Back
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Multinational Corporations (MNC)
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Firms that engage in some form of international business.
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Agency Problem
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The conflict of goals between a firm's managers and shareholders.
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Imperfect Market
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When factors of production are somewhat immobile.
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Product Cycle Theory
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When firms become established in the home market as a result of some perceived advantage over existing competitors, such as a need by the market for at least one more supplier of the product.
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Licensing
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Obligation of a firm to provide its technology in exchange for fees or some other specified benefits.
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Franchising
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Obligation of a firm to provide a specialized sales or service strategy, support assistance, and possibly an initial investment in the franchise in exchange for periodic fees.
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Joint Venture
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A venture that is jointly owned and operated by two or more firms.
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Direct Foreign Investment (DFI)
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Any method of increasing international business that requires a direct investment in foreign operations normally.
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