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Bank regulation and the process of internationalisation: A study of Japanese bank entry into London

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  • John Barry Howcroft
  • Rehan Ul-Haq
  • Richard Hammerton

Abstract

The paper provides a theoretical insight into bank regulation and the process of internationalisation by examining the concepts of regulatory push and market pull within the context of Japanese bank entry into London during the 1980s. Rugman and Verbeke's [(1998). Corporate strategy and international environmental policy. Journal of International Business Studies , 29 (4), 819--833] Consistency of Home and Host Government Goals model is utilised to structure the discussion, which centres on a situation where there is a conflict of goals between multinational enterprises (MNEs) and the home government but goal alignment between MNEs and the host government. As such the paper examines a relatively under-researched aspect of internationalisation and concludes that in certain circumstances internationalisation can occur despite great ‘psychic distance’. The paper also argues that although bank regulation can lead to a conflict situation it can also be conducive to the development of a strong home base and the development of firm specific advantages.

Suggested Citation

  • John Barry Howcroft & Rehan Ul-Haq & Richard Hammerton, 2008. "Bank regulation and the process of internationalisation: A study of Japanese bank entry into London," The Service Industries Journal, Taylor & Francis Journals, vol. 30(8), pages 1359-1375, September.
    • Handle: RePEc:taf:servic:v:30:y:2008:i:8:p:1359-1375
    DOI: 10.1080/02642060802613533
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    References listed on IDEAS

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    1. Nada Mora, 2008. "The Effect of Bank Credit on Asset Prices: Evidence from the Japanese Real Estate Boom during the 1980s," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(1), pages 57-87, February.
    2. Michael Moran, 1991. "The Politics of the Financial Services Revolution," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-37789-9.
    3. Maximilian J.B. Hall, 1993. "Banking Regulation And Supervision," Books, Edward Elgar Publishing, number 201.
    4. Williamson, Oliver E, 1995. "Hierarchies, Markets and Power in the Economy: An Economic Perspective," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 4(1), pages 21-49.
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