multinational corporation

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multinational corporation,

business enterprise with manufacturing, sales, or service subsidiaries in one or more foreign countries, also known as a transnational or international corporation. These corporations originated early in the 20th cent. and proliferated after World War II. Typically, a multinational corporation develops new products in its native country and manufactures them abroad, often in Third World nations, thus gaining trade advantages and economies of labor and materials. Almost all the largest multinational firms are American, Japanese, or West European. Such corporations have had worldwide influence—over other business entities and even over governments, many of which have imposed controls on them. During the last two decades of the 20th cent. many smaller corporations also became multinational, some of them in developing nations. Proponents of such enterprises maintain that they create employment, create wealth, and improve technology in countries that are in dire need of such development. Critics, however, point to their inordinate political influence, their exploitation of developing nations, and the loss of jobs that results in the corporations' home countries.

multinational company

or

multinational corporation

a company which operates from a home base in one country with subsidiaries in others. The term transnational company has increasingly been preferred to describe large international corporations since they may not have an easily identifiable home base. World economy and trade is increasingly dominated by such companies which many authors see as outside the control of national governments. This raises issues of the control which such governments have over their own economies. Whilst the role of multinational companies has been decisive for the fate of THIRD WORLD economies and is central to the concept of IMPERIALISM and NEOIMPERIALISM, the largest companies have the majority of their investments in industrial countries. Investment in the Third World may not be the most important area for multinational companies, but they derive high profits from such investments and the effect on small Third World countries can be very significant. See also DEPENDENT INDUSTRIALIZATION, DEPENDENCY THEORY, UNEQUAL EXCHANGE.
References in periodicals archive ?
On the activities chart for the day, Skye Bank Plc, FBN Holdings Plc, Wema Bank Plc, Diamond Bank Plc and Transnational Corporation Plc topped the equities market's volume-based chart while Guaranty Trust Bank Plc, Zenith Bank Plc, FBN Holdings Plc, Stanbic IBTC and United Bank of Africa led the value-based rankings.
Byron Tarr, served as Finance Minister in the Interim Government of National Unity, (IGNU) 1990-1992; Deputy Minister of Finance for Revenue, 1972-75; Transnational Corporation Affairs Officer at the United Nations, 1975-77; Controller General for Public Corporations, 1977-80; and founding partner, Development Consultants.
46% of government-owned shares of Dastan Transnational Corporation in run up to planned sale of the government stake.
It was formed by five independent experts, most of them distinguished international legal scholars representing some of the major world regions (Africa, Asia, Western Europe, Latin America, and Eastern Europe) who were given the mandate to identify issues, to gather and examine information regarding the effects of transnational corporation on human rights, and to make recommendations regarding the work methods and activities of transnational corporations, among others.
BLOWING AWAY British American Tobacco's smokescreen of corporate responsibility, the Campaign Against Foreign Control of Aotearoa (CAFCA) named the tobacco giant's New Zealand subsidiary the winner of the 2008 Roger Award for the Worst Transnational Corporation.
Even Nestle, another much maligned transnational corporation, has also recognized the growing customer demand for fairly traded coffee, having launched its own brand last fall.
In Switzerland, upholstery manufacturer Rohner Textil established partnerships with chemical transnational corporation Ciba-Geigy and the independent environmental institute EPEA in Germany to meet its business commitment to "economics and ecology.
Remember how the South African transnational corporation, Anglo American, made a massive investment to take over Zambia's state-run copper mines only to pull out a couple of years later?
the world's largest transnational corporation, plans to spin off roughly half of its insurance assets through an initial public offering to be scheduled in the first half of 2004 for a new company called Genworth Financial Inc.
Invariably termed "The Swedish Match King" by the press, in the 1920s Kreuger built a transnational corporation based on match monopolies in many smaller countries (where the sale of the national match monopoly became a source of government revenue--and corruption), and participation in match oligopolies in the United States and other major markets.
of the United States was the world's largest transnational corporation in terms of foreign assets in 1996, according to a report on the top 100 transnational firms released Tuesday by the United Nations Conference on Trade and Development (UNCTAD).
Skye Bank Plc, Transnational Corporation Plc, Diamond Bank Plc, FCMB Holdings Plc and Fidelity Bank Plc were the top traded stocks in terms of volume while Zenith Bank, FBN Holdings, Transnational Corporation Plc, Access Bank Plc and Diamond Bank Plc took the top five slots on the value-based charts.

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