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Despite the argument for stateless firms and global strategy, few deny the existing heterogeneities between nations. However, the linkages between national context, corporate strategy, and market performance have not been adequately studied. This study integrates the fragmented, discipline‐based literature of international business, cross‐cultural management, organization theory, and strategic management to construct a framework for strategic management of multinational enterprises (MNEs), and explores the linkages between national context, corporate strategy, and market performance among the leading computer MNEs from South Korea and Taiwan. © 1995 John Wiley & Sons, Inc.