The present globalisation of the economy is one of the main forces driving the internationalisation process of firms, a phenomenon that has been one of the most widely studied in the literature and which has given rise to numerous explanatory theories. The manufacturing sectors of machinery, food, textiles, furniture have already consolidated their presence in international markets, induced by the increased competition deriving from liberalisation of foreign trade and the desire to conquer new markets. If in manufacturing sectors globalisation has been high, the service sector has not been far behind. One of the sectors that has been most influenced by changes in the competitive framework is banking. Therefore, the objective of this empirical study will be to analyse the process of internationalisation followed by Spanish banks (Banco Santander, BCH, BBV and Argentaria), and the results obtained, measured in terms of “internationalisation degree” and “return on assets” (ROA). The main markets receiving the investment of the banks chosen for the study, as well as the motives and the different entry modes adopted for their internationalisation are then analysed. It will be seen what international movements have occurred as a result of the mergers in 1999, and whether they represent any change in the internationalisation, strategy of these firms. The study will be completed with the presentation of some patterns of behaviour observed in the internationalisation processes of the Spanish banks analysed.
Sanchez‐Peinado, E. (2003), "Internationalisation process of Spanish banks: strategic orientation after the mergers", European Business Review, Vol. 15 No. 4, pp. 245-261. https://doi.org/10.1108/09555340310483820Download as .RIS
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