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Acquisitions, Institutions and Policy

In: Acquisition Strategies in European Emerging Markets

Author

Listed:
  • Klaus E. Meyer

    (Reading University Business School)

  • Saul Estrin

    (London Business School)

Abstract

Foreign investors and local institutions have a great influence on each other. Foreign investors adapt to requirements imposed on them by local institutions, and adapt to local market conditions that are shaped by local institutions. However, foreign investors directly and indirectly influence local institutions through their interactions with local businesses, individuals and policy makers. This is a two way process; local policy makers in turn aim to influence institutions, notably the legal framework, in ways that influence the patterns of foreign investment and its interactions with local stakeholders. The result is a complex interaction between economic agents, including foreign investors, political agents and the institutional environment governing them all, which we try to represent in Figure 8.1. This chapter traces these interdependencies in European emerging markets (EEE), as they emerge from both the survey and the case evidence. All of these elements are fundamentally influenced by the fact that the three countries, and therefore their institutions and business environment, are in the process of transition from communist planning to free markets planning, as well as having recently joined the European Union (EU).

Suggested Citation

  • Klaus E. Meyer & Saul Estrin, 2007. "Acquisitions, Institutions and Policy," Palgrave Macmillan Books, in: Klaus E. Meyer & Saul Estrin (ed.), Acquisition Strategies in European Emerging Markets, chapter 8, pages 94-113, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28654-2_8
    DOI: 10.1057/9780230286542_8
    as

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