This chapter explores the role of multinational corporations (MNCs) within different forms of market economy. It also presents evidence of a test of the globalization, ethnocentricity, local isomorphism and duality accounts. The chapter explores the three schools of thought, and add a fourth, to reflect the likelihood that this is a complex area with different pressures operating in a complex and inter-related way. It also focuses on the human resource management implications of these debates. The chapter outlines some of the ways that the Cranet data have been used to examine the empirical evidence. It also shows what findings that research has uncovered and then draw conclusions about the extent of similarity, isomorphism and duality. The growth in the number, reach and power of MNCs is seen as key to the growth of globalization process. Much attention is currently being focused on how multinationals are changing local human resource management (HRM) practices by importing successful practices across national borders.