“…Consistent with this view, a sizable body of literature has emerged over the last two decades looking at the changing nature of the corporate HQ in MNCs, and in particular at the extent to which HQ seeks to provide a value‐added function to subsidiary units around the world (Ambos and Mahnke, ; Campbell et al, ; Kunisch et al, ). Some studies have focused on the different ways the HQ adds value to its network of subsidiary operations (Ambos et al, ; Chandler, ; Foss, ), others have examined the movement of HQ operations to overseas locations (Birkinshaw et al, ; Laamanen et al, ; Strauss‐Kahn and Vives, ), and the creation of ‘virtual’ HQs without a fixed location (Pasternak and Viscio, ; Prahalad and Bhattacharyya, ).…”