IDEAS home Printed from https://ideas.repec.org/p/wpa/wuwpeh/0405001.html

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

Author

Listed:
  • 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, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpeh:0405001
    Note: Type of Document - pdf; pages: 38
    as

    Download full text from publisher

    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/eh/papers/0405/0405001.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. C. Harvey, 1991. "On the Perverse Effects of Financial Sector Reform in Anglophone Africa," South African Journal of Economics, Economic Society of South Africa, vol. 59(3), pages 152-166, September.
    2. Jan Johanson & Jan-Erik Vahlne, 1977. "The Internationalization Process of the Firm—A Model of Knowledge Development and Increasing Foreign Market Commitments," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 8(1), pages 23-32, March.
    3. 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.
    4. 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.
    5. Kobrin, Stephen J., 1980. "Foreign enterprise and forced divestment in LDCs," International Organization, Cambridge University Press, vol. 34(1), pages 65-88, January.
    6. 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.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Petrou, Andreas P. & Thanos, Ioannis C., 2014. "The “grabbing hand” or the “helping hand” view of corruption: Evidence from bank foreign market entries," Journal of World Business, Elsevier, vol. 49(3), pages 444-454.
    2. Xiaohui Yuan & Jiayan Yan, 2022. "Reverse Efficiency Spillovers from Host Country Banks to Foreign Banks: Evidence from Emerging Market Bank Subsidiaries in Developed Markets," Management International Review, Springer, vol. 62(6), pages 915-946, December.
    3. Gino Cattani & Adrian E. Tschoegl, 2002. "An Evolutionary View of Internationalization: Chase Manhattan Bank, 1917 to 1996," Center for Financial Institutions Working Papers 02-37, Wharton School Center for Financial Institutions, University of Pennsylvania.
    4. Arte, Pratik & Larimo, Jorma, 2019. "Taking stock of foreign divestment: Insights and recommendations from three decades of contemporary literature," International Business Review, Elsevier, vol. 28(6), pages 1-1.
    5. Adrian E. Tschoegl, 2004. "Financial Crises and the Presence of Foreign Banks," International Finance 0405016, University Library of Munich, Germany.
    6. Danchi Tan & Weichieh Su & Joseph T. Mahoney & Yasemin Kor, 2020. "A review of research on the growth of multinational enterprises: A Penrosean lens," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(4), pages 498-537, June.
    7. Putzhammer, Moritz & Puck, Jonas & Lindner, Thomas, 2020. "Changes in foreign operation modes: A review and research agenda," International Business Review, Elsevier, vol. 29(1).
    8. Cheung, Fanny S.L. & Leung, Wing-Fai, 2007. "International expansion of transnational advertising agencies in China: An assessment of the stages theory approach," International Business Review, Elsevier, vol. 16(2), pages 251-268, April.
    9. Zhu, Hong & Eden, Lorraine & Miller, Stewart R. & Thomas, Douglas E. & Fields, Paige, 2012. "Host-country location decisions of early movers and latecomers: The role of local density and experiential learning," International Business Review, Elsevier, vol. 21(2), pages 145-155.
    10. Ekman, Peter & Hadjikhani, Annoch Isa & Pajuvirta, Andreas & Thilenius, Peter, 2014. "Tit for tat and big steps: The case of Swedish banks’ internationalization 1961–2010," International Business Review, Elsevier, vol. 23(6), pages 1049-1063.
    11. Susan L Young & Christopher Welter & Michael Conger, 2018. "Stability vs. flexibility: The effect of regulatory institutions on opportunity type," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(4), pages 407-441, May.
    12. Xavier Castañer & Mehmet Genç, 2004. "Country institutional differences and multinational advantage in banking," Working Papers hal-00591677, HAL.
    13. Yanwen Jiang & Mikiharu Noma, 2025. "Do geographic distance, cultural distance, and political hazards equally matter for Japanese firms' outbound mergers and acquisitions? A firm‐ and deal‐level empirical analysis," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 39(1), pages 3-33, May.
    14. Kaplow, Louis & Shapiro, Carl, 2007. "Antitrust," Handbook of Law and Economics, in: A. Mitchell Polinsky & Steven Shavell (ed.), Handbook of Law and Economics, edition 1, volume 2, chapter 15, pages 1073-1225, Elsevier.
    15. Sousa, Carlos M.P. & Bradley, Frank, 2008. "Antecedents of international pricing adaptation and export performance," Journal of World Business, Elsevier, vol. 43(3), pages 307-320, July.
    16. Rana, Mohammad B. & Elo, Maria, 2017. "Transnational Diaspora and Civil Society Actors Driving MNE Internationalisation: The Case of Grameenphone in Bangladesh," Journal of International Management, Elsevier, vol. 23(1), pages 87-106.
    17. Meschi, Pierre-Xavier & Ricard, Antonin & Tapia Moore, Ernesto, 2017. "Fast and Furious or Slow and Cautious? The Joint Impact of Age at Internationalization, Speed, and Risk Diversity on the Survival of Exporting Firms," Journal of International Management, Elsevier, vol. 23(3), pages 279-291.
    18. Arora, Ashish & Fosfuri, Andrea, 1999. "Exploring the internalization rationale for international investment: wholly owned subsidiary versus technology licensing in the worldwide chemical industry," DEE - Working Papers. Business Economics. WB 6430, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    19. Bürgel, Oliver & Fier, Andreas & Licht, Georg & Murray, Gordon & Nerlinger, Eric A., 1998. "The internationalisation of British and German start-up companies in high-technology industries," ZEW Discussion Papers 98-34, ZEW - Leibniz Centre for European Economic Research.
    20. Arie Y Lewin & Silvia Massini & Carine Peeters, 2020. "Absorptive capacity, socially enabling mechanisms, and the role of learning from trial and error experiments: A tribute to Dan Levinthal’s contribution to international business research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(9), pages 1568-1579, December.

    More about this item

    Keywords

    ;

    JEL classification:

    • N - Economic History

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpeh:0405001. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: EconWPA The email address of this maintainer does not seem to be valid anymore. Please ask EconWPA to update the entry or send us the correct address (email available below). General contact details of provider: https://econwpa.ub.uni-muenchen.de .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.