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Strategic transformations in Danish and Swedish big business in an era of globalisation, 1973-2008

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  • Martin Jes Iversen
  • Mats Larsson

Abstract

This article concerns the corporate responses to the economic integration process from 1973 to 2008 in two small, open European countries, Denmark and Sweden. It focuses on strategic relations regarding the integration process and analyses the changing diversification patterns and internationalisation levels. The hypothesis from the economic integration literature indicates that we could expect a high degree of core business focus combined with a high degree of internationalisation concurrently with the economic integration process. The Danish case confirmed this prediction in a clear and substantial way, while the Swedish diversification pattern was marked by the continuous importance of diversification in the period from 1973 to 1993. This confirms the findings of Whittington and Mayer, who investigated the development of the largest British, French and German manufacturing enterprises. But the result also indicates that diversification perhaps proved to be less important after 1993 when the process of 'Europeanisation' dynamics was succeeded by the globalisation processes including the fast growing economies in South East Asia.

Suggested Citation

  • Martin Jes Iversen & Mats Larsson, 2011. "Strategic transformations in Danish and Swedish big business in an era of globalisation, 1973-2008," Business History, Taylor & Francis Journals, vol. 53(1), pages 119-143.
  • Handle: RePEc:taf:bushst:v:53:y:2011:i:1:p:119-143
    DOI: 10.1080/00076791.2011.546670
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    References listed on IDEAS

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    1. Khalid Sekkat & Adriaan Dierx & Fabienne Ilzkovitz, 2004. "European integration and the functioning of product markets," ULB Institutional Repository 2013/7310, ULB -- Universite Libre de Bruxelles.
    2. Whittington, Richard & Mayer, Michael, 2000. "The European Corporation: Strategy, Structure, and Social Science," OUP Catalogue, Oxford University Press, number 9780199242085.
    3. Thomsen, Steen & Rose, Caspar, 2002. "Foundation ownership and financial performance. Do companies need owners?," Working Papers 2002-3, Copenhagen Business School, Department of Finance.
    4. Fabienne Ilzkovitz & Adriaan Dierx & Viktoria Kovacs & Nuno Sousa, 2007. "Steps towards a deeper economic integration: the internal market in the 21st century," European Economy - Economic Papers 2008 - 2015 271, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
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    Cited by:

    1. Daniele Cerrato & Donatella Depperu, 2012. "Financial Crisis and Corporate Diversification: Evidence from Acquisitions in Italy 2007-2010," DISCE - Quaderni del Dipartimento di Scienze Economiche e Sociali dises1285, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    2. Geoffrey G. Jones, 2015. "Business Groups Exist in Developed Markets Also: Britain Since 1850," Harvard Business School Working Papers 16-066, Harvard Business School.

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