This Oxford/Cambridge style debate on whether we need a new theory of the 'international' firm", given all the major changes we are going through in the world. What would a new theory of the international firm look like? What are the boundary conditions and shift parameters that such a new theory would entail? For theory testing, what would general models look like for such a new theory? Do we need a new approach that integrates strategic management and theories of the international firm, so we can better explain the changing nature of contexts, organizational forms, incentives, motivations, frictions, and stakeholders?   This panel debates whether a new approach that integrates strategic management and theories of the international firm help explain the changing nature of contexts, organizational forms, incentives, motivations, frictions, and stakeholders.   The original charge is: "There is no need for a new theory of the 'international' firm."   "For" side: Peter Buckley and Alain Verbeke, debating the current theories are adequate, "Against" side: David Teece and Jay Barney, debating that there is a need for a new approach.   Debate Panel Ilgaz Arikan, Moderator (Kent State University) Jay Barney (University of Utah) Peter Buckley (University of Leeds, UK) David Teece (University of California, Berkeley) Alain Verbeke (University of Calgary)   (c) STR - Strategic Management Division - AOM