Stephen Hymer

Stephen Hymer was a Canadian economist known for his influential work on international business and the theory of foreign direct investment (FDI). He introduced the concept of "internalization," explaining why companies expand internationally by establishing operations in other countries rather than just exporting. Hymer's ideas emphasized that firms invest abroad to maximize their competitive advantages, like technology and management skills. His work laid the foundation for modern international business studies and helped explain how and why multinational corporations operate across borders. His theories are essential for understanding global trade and investment dynamics today.