Abstract This paper reviews the origin and evolution’s path of the Eclectic Paradigm, sorts out the connotations of three kinds of ownership advantages including asset-based ownership advantage, transaction-based ownership advantage and institution-based ownership advantage (Oi), and discusses the relationship among three kinds of ownership advantages and the relationship between ownership advantage and the other two elements of Eclectic Paradigm, which makes the inherent logic of eclectic paradigm clear. Based on the above, we propose the way of how to amend the eclectic paradigm in the future, provide an approach of conceptualizing Oi, and raise a proposition about the formation mechanism of Oi.
2016, Vol. 13 
