Team Production & the Multinational Enterprise

Abstract

This Article looks back at Margaret Blair and Lynn Stout’s path-breaking article, A Team Production Theory of Corporate Law and considers the extent to which team production theory applies to the internal governance of the multinational enterprise, which includes wholly or partially controlled corporations that are not themselves Berle-Means corporations. This effort confirms Blair and Stout’s observations that team production problems are ubiquitous, and that corporate governance tools may play a broader role within firms with different, and perhaps more concentrated, ownership characteristics.

Keywords: corporate governance, multinational enterprise, stakeholder, team production theory

JEL Classification: K22, L21, L22