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Internationalization and the Rearrangement of Ownership of Firms and Parts of Firms: Grindlays Bank, 1828-2000

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  • Adrian E. Tschoegl

Abstract

Grindlays Bank, a British overseas bank whose operations spanned South Asia, Africa and the Middle East, has a particularly long and rich history. As a multi-unit organization, Grindlays provides a good example of the point that if one wishes to understand the internationalization process of such a firm — the mechanisms that determine the geographical scope of its operations — one must take into account the rearrangement of ownership of units (primarily branches). As Grindlays’ strategy changed, frequently as a function of changes in its ownership, Grindlays responded by buying or selling units. It also lost units to actions of governments. However, it is the rearrangement of ownership of branches that is the most provocative observation in that it suggests the hypothesis that strategic advantage in banks does not reside at the branch level.

Suggested Citation

  • Adrian E. Tschoegl, 2004. "Internationalization and the Rearrangement of Ownership of Firms and Parts of Firms: Grindlays Bank, 1828-2000," Economic History 0405001, EconWPA.
  • Handle: RePEc:wpa:wuwpeh:0405001
    Note: Type of Document - pdf; pages: 38
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/eh/papers/0405/0405001.pdf
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    References listed on IDEAS

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    1. Adrian E Tschoegl, 2002. "FDI and Internationalization: Evidence from U.S. Subsidiaries of Foreign Banks," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 33(4), pages 805-815, December.
    2. Hennart, J.M.A., 1998. "Transaction cost theory and the free standing firm," Other publications TiSEM af08a2cb-d031-4aa3-96f1-e, Tilburg University, School of Economics and Management.
    3. Kobrin, Stephen J., 1980. "Foreign enterprise and forced divestment in LDCs," International Organization, Cambridge University Press, vol. 34(01), pages 65-88, December.
    4. Frank R. Lichtenberg & Donald Siegel, 1987. "Productivity and Changes in Ownership of Manufactoring Plants," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(3, Specia), pages 643-684.
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    Keywords

    foreign direct investment;

    JEL classification:

    • N - Economic History

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