In Chapter 5, we continue to develop our conceptual framework describing how MNCs’ foreign subsidiary investments are affected by natural disasters. We do so by examining whether MNCs are able to gain experiential advantages from managing through low or high impact natural disasters that enable them to enter and expand into countries experiencing similar risks. We also conceptually discuss whether advantages accruing from MNCs’ subsidiary-level experience with natural disasters are greater than those from terrorist attacks or technological disasters. Discontinuous risks, such as natural disasters that are often difficult to anticipate or predict, have received little attention in the strategic management research. Much of the research in this area has focused on firms’ experience with continuous risks, risks that are steady and more predictable in a firm’s operating environment.