We argue that multinational enterprises (MNEs) not only strive to minimize transaction costs but also attempt to maximize transaction values when interacting with local firms in foreign markets. We put forth our thesis for the MNE governance structure, contingent on the institutional environment...

This paper makes a case directed towards establishing the importance of global strategic considerations in choosing multinationals' entry mode. Specifically, it is our contention that beyond the environmental and transaction-specific factors well established in the literature to affect the entry...