๐ชช : DOI: 10.5281/zenodo.18158767
๐ : Nexus Global Research Journal of Business And Management (NGRJBM) Volume-2, Issue-1 (Page : 05- 17)
ABSTRACT:
This conceptual paper examines the foundational theoretical contributions of Stephen Hymer and Charles Kindleberger to international business scholarship, proposing a unified framework that bridges their complementary perspectives on multinational enterprise behavior and foreign direct investment patterns while incorporating insights from contemporary theoretical extensions. This study employs a comprehensive literature review methodology, analyzing primary theoretical works to develop new hypotheses about the evolution and contemporary relevance of Hymer-Kindleberger theoretical foundations in modern global business contexts through systematic theoretical synthesis. The analysis reveals that Hymer’s market imperfection theory and Kindlebergerโs perspective create a synergistic framework for understanding multinational enterprise behavior. Three novel hypotheses emerge regarding the intersection of market power dynamics, institutional stability, and corporate international expansion strategies, supported by evidence from contemporary theoretical extensions. This paper presents the first systematic integration of Hymer and Kindleberger’s theoretical contributions, proposing new conceptual bridges between microeconomic firm behavior and macroeconomic international stability theories in multinational enterprise research while incorporating insights from modern platform capitalism and digital economy transformations. Future empirical testing of the proposed integrated framework across different industrial sectors and geographical contexts would strengthen the theoretical contributions presented, particularly in emerging markets and digital economy contexts. The unified framework offers strategic guidance for multinational enterprises navigating complex international environments where market imperfections intersect with varying degrees of institutional stability, providing actionable insights for contemporary global business challenges. As a result of the theoretical integration, a better understanding of how the behaviour of multinational corporations affects the stability and development tendencies of the global economy is achieved. This, in turn, provides policymakers with insights that are focused on the objectives of sustainable development and international economic governance.
Keywords: Stephen Hymer, Charles Kindleberger, multinational enterprises, foreign direct investment, market imperfections, international business theory, theoretical integration, conceptual framework.