This article analyses the structure and changes of large companies based on a new database of the 200 largest non-financial firms operating from 1913 to 1971 in Argentina. The main contribution of the research consists of the elaboration of the rankings of the 200 largest companies according to their paid-up capital between 1913 and 1971 and the construction of a database of large companies based on homogeneous sources and criteria. The study identifies the long-lasting presence of family-based diversified business groups and foreign multinationals from the first global period to the end of Import Substitution Industrialisation. It also shows that the presence of foreign companies among the 200 largest firms is higher than that identified in other countries. The study constitutes the first comprehensive research into big business in Argentina until the 1970s and a first attempt to identify the life cycles of the largest companies in Argentina.

This article documents how business lobbying groups, corporate leaders, and even some members of the Nixon administration drew on futurist discourse and rhetoric to defeat the Burke-Hartke bill, proposed legislation that would have imposed new taxes on multinational corporations. For several years, self-described futurologists had reconceptualized multinational corporations as ideal institutions for securing world peace and, more broadly, meeting society’s needs, thereby taking over some of the government’s functions. These ideas allowed business interests to invoke a utopian vision of the multinational corporation while working toward the more concrete goal of building a global economy defined by free trade and fending off unwanted regulation.

The Wiehahn Commission, a government body that proposed a multipronged 1979 South African labor reform, accelerated the corporate recognition of Black trade unions in apartheid era South Africa. Gradually implemented over the course of two years, the reforms complemented international workplace codes and the burgeoning reformist push for ethically sound business practices in the workplace. Although U.S. multinational firms in South Africa did not initially voice support for Black trade unions, in the aftermath of Soweto, many were faced with cascading internal and external pressures to negotiate with these emerging unions. By incorporating the Sullivan Principles, a U.S. code for ethical business conduct, into the broader scholarship on the South African trade union movement and the late apartheid era Wiehahn Commission reforms, this article examines how corporate reforms landed in South Africa, probing the business response to worker demands. South African workers were not merely passive recipients of workplace reform, but rather active participants, shaping the form and direction of U.S. and South African policy.

There has been a brewing argument on the effects of economic globalization on the repression of human rights. My argument in this article joins the optimistic perspective on the relationship between the globalizing economy and state repression. I argue that governments consider backlash from investors in their decisions about whether to use repression. Investors, motivated by international human rights norms and a fear of violent conflict, would prefer that governments not introduce brute force into a nonviolent protest. Thus, governments in countries that depend more on foreign direct investment (FDI) should be less likely to use violence against protesters than those that are less dependent on FDI. Using data analysis of protest events and inward FDI stock, I test this argument and find a negative relationship between these two variables.

During the 1970s, religious activists were heavily involved in national and international campaigns against multinationals and urged firms to adapt their behavior to align with Christian ethics. This article analyzes the strategies of Nestlé in addressing religious activism at three levels: national, international, and organizational. The analysis examines Nestlé’s collaboration with other Swiss and European multinationals and high-ranking church representatives in establishing dialogue platforms that sought to improve mutual understanding and promote tolerance for global capitalism. Nestlé also contributed to the creation of guidelines for the main churches in Switzerland that were aimed at their partial depoliticization. When Nestlé’s executives faced religious shareholder activists during its shareholders’ annual general meetings, they chose to engage with them to avoid their radicalization, although most of their demands ultimately remained unanswered. Overall, Nestlé contributed to the reorientation of religious discussions to small-scale ethical problems and business self-regulation rather than to substantial reforms of the capitalist economic system.

This article explores the linkages between globalization, cities, and firms in twentieth-century India. Since the interwar period in the early twentieth century, India withdrew from the global economy, reintegrating only in the 1990s. This reshaped the metropolitan hierarchy in India in specific ways, whether through international migration and creation of new supply chains before 1991 or by foreign direct investment in the final decade of the twentieth century. Firms—both Indian and multinational—had to respond to different waves of globalization and accordingly made location choices that in turn shaped the urban evolution. More broadly, this article points to the relevance of integrating urban history more closely with business history in studies of globalization.

The Bryant & May company is well known for its operations in Britain. Historians have paid less attention to the actions of the company overseas. The opening of a new Australian subsidiary factory in 1909 marked an early venture in multinational manufacturing within the British Empire. This article uses business records and newspapers from both the British and Australian archives to examine the day-to-day operations of this multinational, with a particular focus on the human dimension of the interactions between London and Melbourne. The Bryant & May case study reveals the evolving, sometimes tense, relationship between the “home” and “subsidiary” branches in the context of British imperialism and Australian federation in the years preceding World War I. Business, personal, and imperial relationships intertwined. While business historians have developed theoretical frameworks to understand why companies embark on multinational operations, work remains to be done on the longer-term operations of companies in particular political, social, and cultural contexts. We examine the building of the Empire Works match factory in Melbourne, the nature of transnational management, labor relations, and key production challenges up to the Interstate Commission of 1914. We reveal how Melbourne managers, sometimes against the inclinations of the London directors, were prepared to drive a hard bargain with local politicians and workers. Bryant & May successfully, and sometimes controversially, gained competitive advantage as a “local” company with access to preferential tariffs. This placed the firm in an ideal position to prosper when international trade was disrupted during World War I.

During the last decade, we have seen an increased opposition to globalization. Within this wave of criticism, firms and more specifically multinational corporations have been major targets, accused of multiple wrongdoings, such as social dumping, fiscal evasion, job cuts, trade deficits, abuses of power, and environmental damages. In many respects, this debate echoes the one that took place during the 1970s with respect to oil shocks, de-industrialization, and imperialism. At that time, several international organizations, such as the OECD, ECOSOC, ILO, and the European Community started to address the issue of multinationals and international investments, and advocated for the creation of guidelines to regulate their activities. The following paper explores the reactions of Swiss multinationals to these attempts, as well as their strategies for protecting their latitude in conducting business. Relying on archival material of the Swiss Union of Commerce and Industry and of the Federal Archives, this paper shows how the biggest companies in the pharmaceutical, machine, and food processing industries—all of them still being global players —decided to create a task force to deal with these emerging regulations at the international level.

The article is a rare investigation into multinational activity in a wealthy resource-based colonial economy toward the end of the first wave of globalization. It challenges the conventional wisdom that multinationals had a limited presence in pre-1914 Australia, where government loans and portfolio investment from Britain into infrastructural and primary industries dominated. Our new database of nearly five hundred foreign firms, from various nations and spread across the host economy, shows a thriving and diverse international business community whose agency mattered for economic development in Australia. Colonial ties, natural resources, stable institutions, and high incomes all attracted foreign firms.

Multinationals experienced significant legitimacy challenges in less-developed countries between 1945 and 1970. Corporate responses to these challenges cover three distinct periods. Unsuccessful postwar attempts focusing on colonial welfare concerns were followed by pragmatic endeavors intended to repair corporate reputations by Africanizing senior management. By the 1960s, this had become a common approach to legitimization. The challenges of Africanizing ethnocentric multinationals led to organizational changes: internationally diversified multinationals were better able to decentralize subsidiary management, while the late 1960s saw regionally focused multinationals absorbed by more diversified multinationals. Organizational survival was directly linked to legitimacy advantages derived from Africanization.

This paper discusses how MNCs reacted to NAFTA and MERCOSUR in terms of their investment and operations patterns in three sectors - automotive, electronics, and apparel - and assesses the likely impact of the upcoming Free Trade Agreement of the Americas (FTAA). It shows that NAFTA functioned – at least in its first years - as an investment relocation engine, while MNCs' reaction to MERCOSUR was significant only in the automotive sector. The emergence of China and other Asian economies, with their low cost and vast markets, and the progressive enlargement in the scope of MNCs operations, seem to diminish the economic relevance of NAFTA and MERCOSUR. FTAA may provide a new impetus to the integration of the automotive industry in the Americas, and a stronger rationale for a slowdown of plant relocation to Asia in light industries such as electronics and garments. But it is unlikely that it will reverse current trends which point to Asia – with China at the epicenter – as the global magnet for manufacturing and exports.

This paper applies the insights of obsolescing bargaining theory to a situation in which a host country interacted with both multinational corporations and an international organization, the World Bank. Drawing on resource curse literature and the Rubinstein bargaining model, we demonstrate the continued usefulness of obsolescing bargaining theory by explaining why the World Bank had to renegotiate its initial bargain with Chad in the Chad-Cameroon Oil Pipeline Project. The paper explores how specific bargaining parameters changed over time in this case and suggests how resource curse dynamics and their impact on domestic politics might be particularly relevant for bargaining between host countries and international actors. The case study serves as a warning to international financial institutions and corporations alike with regard to the ways in which obsolescing bargains can arise in the contemporary global political-economy.

This paper studies the obstacles that hinder the formation of linkages among local firms, multinational corporations and universities in the Costa Rican information and communication technologies cluster. It examines both the social and the economic reasons for forming or participating in linkages, ranging from the capabilities of potential partners to compliance with customs. The research is based on qualitative information collected over four years through more than 150 direct and detailed interviews with different stakeholders in the cluster. Costa Rica is often used as a positive benchmark of cluster policy in Latin America, but it is argued here that linkages among firms in the sector have developed much more slowly than anticipated.