Exploring New Markets: Direct Investment, Contractual Relations and the Multinational Enterprise
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We consider the multinational firm's decision on whether to enter a new market immediately via direct investment or to contract initially with a local agent and (possibly) invest later. Use of a local agent allows the multinational to avoid costly mistakes by finding out if the market is large
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美国国家经济研究局创建时间：
1995-02-01
