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European Integration And Leading Firms’ Entry And Exit Strategies

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Abstract

This paper provides empirical evidence on how EU leading firms adjusted to European economic integration with respect to the following strategic variables: entry/exit decisions in the product/geographic space (diversification/multinationality). A novel dataset, including detailed information on firms’ output across industries and countries for a sample of 100 EU leading firms in 1987 and 1993, also enables us to provide preliminary evidence on the "globalisation - return to core business" hypothesis. The econometric analysis of entries/exits in the primary industry suggests that the Single Market program affected company strategy by making multinational activity more necessary to face increased competitive pressure. Our results are thus far more consistent with a "think European view" than with the "return to core country" hypothesis, as implied by fuller exploitation of scale economies and comparative advantages.

Suggested Citation

  • Stephen Davies & Laura Rondi & Alessandro Sembenelli, 1997. "European Integration And Leading Firms’ Entry And Exit Strategies," CERIS Working Paper 199710, CNR-IRCrES Research Institute on Sustainable Economic Growth - Torino (TO) ITALY - former Institute for Economic Research on Firms and Growth - Moncalieri (TO) ITALY.
    • Handle: RePEc:csc:cerisp:199710
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    Citations

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    Cited by:

    1. Paul Dobson & Roger Clarke & Stephen Davies & Michael Waterson, 2001. "Buyer Power and its Impact on Competition in the Food Retail Distribution Sector of the European Union," Journal of Industry, Competition and Trade, Springer, vol. 1(3), pages 247-281, September.
    2. Davide Vannoni, 2000. "The diversifield firm: non formal theories versus formal models," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 2000(106).
    3. Davide Vannoni, 1999. "Entries and Exits in Foreign Markets: Italian Firms' Multinational Expansion in the European Union," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 6(2), pages 181-196.

    More about this item

    Keywords

    firms;

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • F02 - International Economics - - General - - - International Economic Order and Integration

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