Country- and Firm-Specific Advantages in the Context of Creation of Competitiveness of Transnational Corporations

In a rapidly changing global economic environment, issues of competitiveness of transnational corporations (TNCs) are becoming increasingly important. This article analyses the sources of TNCs’ competitive advantages through the lens of country-specific (CSA) and firm-specific (FSA) advantages. The study is based on a synthesis of classical and modern theories of international business, drawing on the work of scholars such as R. Coase, E. Penrose, S. Hymer, A. Chandler, J. Dunning, and others. Particular attention is paid to A. Ragman’s CSA/FSA matrix, which allows us to consider the competitiveness of companies through the prism of the interaction of internal and external sources and factors of competitive advantage. The matrix is applicable within the framework of market-, resource- and capability-based approaches, as well as other concepts that explain the sources and factors of firms’ competitive advantages. It is concluded that the capability-based approach, including dynamic ca-pabilities, is the most relevant in the context of the accelerated transformation of the global economy under the influence of multidirectional development trends.