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

  • Adrian E. Tschoegl

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.

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Paper provided by EconWPA in its series Economic History with number 0405001.

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Length: 38 pages
Date of creation: 10 May 2004
Date of revision:
Handle: RePEc:wpa:wuwpeh:0405001
Note: Type of Document - pdf; pages: 38
Contact details of provider: Web page: http://econwpa.repec.org

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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, vol. 33(4), pages 805-815, December.
  2. Kobrin, Stephen J., 1980. "Foreign enterprise and forced divestment in LDCs," International Organization, Cambridge University Press, vol. 34(01), pages 65-88, December.
  3. 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.
  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), pages 643-684.
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