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The Norwegian Banks in the Nordic Consortia: A Case of International Strategic Alliances in Banking

  • Jacobsen, Siv Fagerland
  • Tschoegl, Adrian E

Despite the scholarly interest in joint ventures and strategic alliances, the consortium bank movement represents and under-researched phase in postwar banking history. From 1964 to the early 1980s, many of the largest banks in the world, including the Nordic banks, entered into international strategic alliances. Almost all of these alliances are now defunct and thus we are looking at the growth and demise of an organizational form. We follow the Norwegian banks in the Nordic consortia and find that domestic rivals do not cooperate but international rivals do. Legal prohibitions in the Nordic countries on entry by foreign banks underpinned the cooperation. The cooperation broke down when, as a result of deregulation, the Nordic banks could establish operations in each other's domestic markets and when domestic mergers disrupted existing international alliances. Copyright 1999 by Oxford University Press.

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Article provided by Oxford University Press in its journal Industrial & Corporate Change.

Volume (Year): 8 (1999)
Issue (Month): 1 (March)
Pages: 137-65

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Handle: RePEc:oup:indcch:v:8:y:1999:i:1:p:137-65
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  1. Engwall, Lars & Johanson, Jan, 1990. "Banks in industrial networks," Scandinavian Journal of Management, Elsevier, vol. 6(3), pages 231-244.
  2. Engwall, L. & WallenstÄl, M., 1988. "Tit for tat in small steps: the internationalization of Swedish banks," Scandinavian Journal of Management, Elsevier, vol. 4(3-4), pages 147-155.
  3. Nakamura, Masao & Shaver, J. Myles & Yeung, Bernard, 1996. "An empirical investigation of joint venture dynamics: Evidence from U.S.-Japan joint ventures," International Journal of Industrial Organization, Elsevier, vol. 14(4), pages 521-541, June.
  4. repec:ner:tilbur:urn:nbn:nl:ui:12-80677 is not listed on IDEAS
  5. Bradford Cornell & Richard Roll, 1981. "Strategies for Pairwise Competition in Markets and Organizations," Bell Journal of Economics, The RAND Corporation, vol. 12(1), pages 201-213, Spring.
  6. Bruce Kogut & Harbir Singh, 1988. "The Effect of National Culture on the Choice of Entry Mode," Journal of International Business Studies, Palgrave Macmillan, vol. 19(3), pages 411-432, September.
  7. repec:ner:tilbur:urn:nbn:nl:ui:12-175839 is not listed on IDEAS
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