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Ray Vernon (1966) was concerned with the changing location of value adding activity of a firm as its products

s moved through the various phases of their life cycles. Stephen Hymer (1960) put forward an industrial organizational approach McManus (1972) Dunning = focus on interaction between competitive (which he calls ownership) advantages of such firms relative to the indigenous firms in the countries in which they were investing and the locational attractions of the counitres in which the investment might be made. Levy 1911 Liefmann 1932 Alfred Plummer 1934 = was one one of the

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