This article utilizes the local banknote circulation volumes of HSBC, the largest foreign bank in China, as a gauge with which to explore political stability and state-building during the Republican era (1912–1935). It will challenge the prevailing view that British banks faced little resistance in China through the 1920s–1930s, and expose new archival evidence on the perception of, and mobilization against, foreign banks.

We use the tools of transaction cost politics (TCP) developed from transaction cost economics and economic analysis, to analyze the business relationship building between the Hongkong and Shanghai Banking Corporation (HSBC), the largest and most successful foreign bank in China, and the Chinese government between 1949 and 1978. We demonstrate the value of the TCP-based approach to evaluating the specialized governance structure of commitment built on mutual dependency. In particular, we identify several transaction attributes that give rise to hazards: transaction uncertainty, the role of the government in the economy, and the strength of the supporting coalition. Our analysis also confirms that commitment built on the mutual dependency between the international company and the local authorities and between the international company's home country authorities and the local authorities did reduce the company's transaction costs by guarding against the local authorities' opportunism.

During the 1980s, the fertilizer industry in Western Europe underwent some radical changes. Reduced profitability and overcapacity forced a number of smaller producers to close down, and most of the major firms in the business either withdrew from the market or reduced their capacity. The exception was the Norwegian industrial conglomerate Norsk Hydro, which expanded rapidly and established itself as the largest producer in Europe and later globally.

The article discusses the strategy behind Hydro's expansion in relation to the changing structure of the fertilizer market, which historically was characterized by tacit and explicit agreements on prices and market shares between the major producers. Hydro's strategy and growth are analyzed in relation to some theoretical contributions from the study of transnationalisation of enterprises. A main argument is that Hydro's expansion was not driven by advantages in cost structure or organizational capabilities, nor did the expansion create such advantages. The Norwegian company expanded in foreignmarkets partly because it had less to lose from a counterattack than competitors in largermarkets and partly because of strategic disadvantages. Contrary to most of its large European competitors, Hydro failed to identify the long term threats to the stability and profitability of the Western European market.

This study evaluates the Bell System's role in the revival of Japanese telecommunications during the post-World War II occupation. Civilian and military personnel who had worked for the firm and who served in the Civil Communications Service (CCS) of the Supreme Command Allied Powers represented the primary agents for knowledge transfer to Japan's Ministry of Communications (MOC) and its supporting independent equipment manufacturers. The MOC became a channel for communicating ideas about management practices at the Bell System to the local telecommunications industry. The CCS's actions in Japan represent what Alfred D. Chandler has termed the “integrated learning base” in action in the public sector. The CCS's role in knowledge transfer has been underestimated by many scholars who have focused primarily on its contributions to promoting production and quality engineering in telecommunications manufacturing. Its central achievement was laying the managerial groundwork for the establishment in 1952 of the governmental enterprise Nippon Telegraph and Telephone.

The direct selling industry has a long history, with roots snaking back to the nineteenth-century “Yankee peddlers” who roamed the countryside selling tools, teas, and liniments door-to-door. Its reputation has suffered from the prevalence of misleading and illegal schemes such as pyramids, which generate income by paying money or other compensation solely for the act of recruiting, charge high entrance fees, and sell products of questionable value. Nonetheless, some advocates note that direct sales work, which often involves family and flexible working hours, has provided an excellent alternative to the traditional bureaucratic employment relationship that has historically been less receptive to women.

The internationalization of business is the subject of an extensive theoretical literature as well as a growing number of historical studies. Historians have paid relatively little attention to the development of multinationals in the service sector, and studies about international publishing are especially scarce. This article discusses the early internationalization of two Dutch publishing firms, Kluwer (nowWolters Kluwer) and Elsevier (now Reed Elsevier) and confronts these case histories with the evolutionary theory of internationalization. The Dutch cases underline the important role of experience, knowledge and learning as well as of the national context in which companies develop. They also show that these factors allow for very different trajectories of internationalization within the same branch of business and the same country.