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Part of
Translating Asymmetry – Rewriting Power
Edited by Ovidi Carbonell i Cortés and Esther Monzó-Nebot
[Benjamins Translation Library 157] 2021
► pp. 77–99

Chapter 4
An information asymmetry framework for strategic translation policy in multinational corporations

ORCID logo | Butler University
ORCID logo | University of North Carolina at Charlotte

The size and scope of multinational corporations in the globalized and interconnected modern economy has increased the need for language services to facilitate a broad range of cross-language communication. Much of the prior research on language in international business has emphasized a metaphorical language barrier and the concept of equivalence in translation, while failing to recognize the strategic importance of translation and interpreting. By contrast, this chapter emphasizes the role of language service professionals in achieving corporate communication goals. A framework is offered that links a firm’s response to information asymmetry (to mitigate or maintain) and whether the communication is internal to the firm or with an external party. This two-dimensional approach implies four types of communication goals, and we offer examples of how firms might achieve these goals. The framework recognizes the value of translation and interpreting in adopting strategic translation policies for operating in a multilingual environment.

Keywords: information asymmetry, strategic translation policy, international business, knowledge management
Article outline
  • 1.Introduction
  • 2.Multinational firms and information asymmetry
  • 3.Language policy in multinational firms
  • 4.The central role of translators and interpreters
  • 5.A framework for strategic translation policy
  • 6.Additional factors
  • 7.Conclusion
  • Notes
  • References
Published online: 16 August 2021
DOI logo
https://doi.org/10.1075/btl.157.04han
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