The Evolutionary or Multi-Stage Theory of Internationalization and its Relationship to the Regionalization of Firms

Abstract

This chapter outlines a general theory of international expansion and its effect on the performance of firms. Using the lens of this theory, it addresses the question of why most companies are “regional,” in the sense that their geographical coverage seems to be far from complete. The chapter also treats the perplexing issue of the lack of congruence in empirical findings, over the 30-year history of the Multinationality vs. Performance sub-field in International Business studies. It argues that the apparently contradictory results of past studies are but subsets of the three stages of the general theory. Finally, the chapter indicates fruitful areas for further research.

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