political economy, globalization, multinational firms, firm strategy
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F23 multinational firms, F59 international political economy
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Correspondence: afhum@dmu.ac.uk

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This monograph is one of the most important studies of multinationals to appear in recent years. It takes its place alongside Bélanger et al.'s work on ABB (1999), showing the potential for generating theoretical insights from the intense scrutiny of a single company.

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The book is an in-depth study of the headquarters (HQ) and three key subsidiaries—in Denmark, England and the USA—of a UK-owned engineering multinational, APV. Its theoretical contribution is, simply put, to take subsidiaries seriously. It helps redress the neglect of subsidiary strategy by much of the international business literature, while avoiding the opposite trap of neglecting the HQ perspective. Subsidiaries...

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