Changing Perspectives on Investment by British Manufacturing Multinationals
The traditional pattern of direct capital outflows from Britain to the Commonwealth has recently been broken in favor of investments in Europe and the United States. The reasons for this marked shift in direction are examined in this paper. The erstwhile preference for Commonwealth Investments can be interpreted principally in terms of a firm's strength or lack of it relative to world competition. Accession to the E.E.C. combined with a growing acceptance of the need to build positions of strength in the richest, most advanced markets in order to ensure long-run profitable survival has fundamentally altered British perspectives on investment priorities. The changes can be understood only if conventional models of foreign investment are modified by political considerations and by the personal preferences of the senior managers involved.© 1976 JIBS. Journal of International Business Studies (1976) 7, 15–28
Volume (Year): 7 (1976)
Issue (Month): 2 (June)
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