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Based on a large UK paint manufacturer′s experiences in the late 1980s, presents a proposal for market entry into Germany. Gives reasons why entry into this market is a challenging proposition. Local requirements make a market research‐based adaptation of the marketing mix elements necessary. Furthermore, additional challenges are presented by the East‐West split of the German market following reunification which calls for a flexible entry strategy, responding to local rather than national needs. The exploratory stage of the development of a workable market entry proposal in co‐operation with German partners is mapped in this case study.

The German stock market has developed by leaps and bounds over the past two years. German legislators have, for example, introduced a large number of improvements that have brought the underlying conditions of the German financial markets into line with international standards. Market participants thereby have the potential — above all through the introduction of a single European currency — to actively avail themselves of the resulting opportunities. The future will see progressive globalisation and increasing international competition on the financial markets and the markets for goods and services. There will also be a greater need for pension plans funded through the capital markets. These developments will further promote the utilisation of shares as a financing and investment instrument in Continental Europe and, especially, in Germany. Introduction of the Euro will considerably reinforce these developments and the integration of markets. The German financial markets are well prepared to meet these challenges. Market participants are taking advantage of the improved underlying legal environment to develop their position among international competitors.

Presents the findings of a study of the successful international marketing strategies and headquarter‐subsidiary relationships of 186 German companies operating in the UK. A strong product orientation combined with a high level of market orientation was found to characterise successful German companies in the UK. Whilst both successful and less successful companies were found to adopt an ethnocentric approach with regard to strategic and product‐related issues the top performers did enjoy greater financial independence and a high degree of autonomy in day‐to‐day marketing decision making.

Compares empirically the marketing strategies and organizational characteristics of 40 British and German companies operating in the machine tool industry. Shows that German manufacturers have a clear objective to develop a long‐term business focusing on quality and reliability as a means of satisfying customer needs. Meanwhile, finds the British companies adopt a more defensive approach to their marketing strategies with their main focus on short‐term profit maximization. While the German companies have developed marketing mixes broadly consistent with their strategy, the British manufacturers have a poor understanding of customer needs leading to a mismatch between strategy and marketing‐mix decisions. The German subsidiaries, although they share their parent′s focus on quality, are seen to be less clear about their long‐term future so that they show a closer resemblance to their British competitors in adopting more defensive strategies.

At the beginning of the nineties, the Danish construction market was in the midst of a severe slump (Eurostat, 1995). At the same time, the German market was beginning to boom, due to the process of unifying the two German states (European Construction Research, 1995). Because of the poor home market circumstances, many Danish construction industry actors, including individual architects and architectural firms, attempted to find work in Germany (Halskov, 1995). However, the aspirations of most of these actors were dashed. By 1996, many of the largest Danish civil engineering and contracting firms had lost billions of Danish kroner, and a great number of small firms, typically architectural firms or subcontractors in the construction process, had also experienced severe losses, some of which had jeopardized the very existence of these firms (ibid.). This turn of events surprised both insiders in the Danish construction industry and the general Danish population as both groups believed that Denmark has high construction standards and that the most of the firms that had attempted operations in Germany were technically competent and had sound domestic business policies.

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

This paper presents the findings of a study of the marketing strategies and headquarters‐subsidiary relationship of 186 German and 113 French subsidiaries operating in the UK. German companies were found to pursue market‐focused strategies with an emphasis on product quality. Meanwhile, their French counterparts adopted a more short‐term orientation with a stronger emphasis on cost‐related strategies. Both sets of companies displayed a high degree of ethnocentricity towards the UK market with regard to strategic and product‐related issues. However, high levels of autonomy were observed in French and German subsidiaries in other areas of marketing decision making. Some differences by industry sector were observed, with service organisations more likely to adapt their product/service offering to meet the needs of UK customers. Chemical and related companies were observed to have the highest level of autonomy with regard to marketing decision making.

This paper aims to examine how Chinese multinational enterprises’ (CMNEs) autonomy-style post-merger integration (PMI) modes of managing developed-market targets evolve into actual-form integration through the lens of ambidexterity.

This study adopts multi-case comparisons with content analysis. A data set was collected from 37 conversations by in-depth interviewing 29 respondents regarding four cases of Chinese acquisitions in the German market.

This study develops a three-stage framework that theorised CMNEs’ autonomy PMIs’ evolution to actual-form integration over time and the effect on acquisition value based on structural, temporal and contextual ambidexterity manifestations. The findings divide the evolutionary trajectory into two sub-trajectories, from great autonomy to autonomy-integration balanced or full integration, to illuminate the effect of different degrees of actual-form integration on value creation or value destruction.

The existing literature on CMNEs’ PMI discovered that CMNEs frequently grant ample autonomy when managing targets acquired from developed markets. However, long-term acquisition benefit is dependent on combining autonomy and actual-form integration; insights into how this can be accomplished are limited. The research is unique in that it reveals the evolutions of CMNEs’ PMIs on developed-market targets, from autonomy to actual-form integration through the lens of ambidexterity.

German real estate investment trusts (REITs) are a small but important property investment vehicle in the European REIT landscape, offering German commercial property investment exposure in a liquid format, compared to the more property development-focused German listed property companies and the popular German open-ended property funds. The purpose of this paper is to assess the emergence of the German REIT market and the risk-adjusted performance and portfolio diversification benefits of German REITs in a mixed-asset portfolio over 2007-2015. The post-global financial crisis (GFC) recovery of German REITs is highlighted. Enabling strategies for the ongoing development of the German REIT market are also identified.

Using monthly total returns, the risk-adjusted performance and portfolio diversification benefits of German REITs over 2007-2015 are assessed. Efficient frontier and asset allocation diagrams are used to assess the role of German REITs (and German property companies) in a mixed-asset portfolio. Sub-period analysis is used to assess the post-GFC recovery of German REITs.

German REITs delivered lesser risk-adjusted returns compared to German stocks over 2007-2015, with limited portfolio diversification benefits. However, since the GFC, German REITs have delivered strong risk-adjusted returns, but with continued limited portfolio diversification benefits with German stocks. German REITs also out-performed German property companies. Importantly, this sees German REITs as strongly contributing to the German mixed-asset portfolio across the portfolio risk spectrum in the post-GFC environment.

German REITs are a small but important market at a local, European and global REIT level. The results highlight the major role of German REITs in a German mixed-asset portfolio in the post-GFC context. The strong risk-adjusted performance of German REITs compared to German stocks sees German REITs contributing to the mixed-asset portfolio across the portfolio risk spectrum. This is particularly important, as many investors (e.g. small pension funds) use German REITs (and German listed property companies) to obtain their German property exposure in a liquid format, as well as the increased importance of blended property portfolios of listed property and direct property.

This paper is the first published empirical research analysis of the risk-adjusted performance of German REITs, and the role of German REITs as a listed property vehicle in a mixed-asset portfolio. This research enables empirically validated, more informed and practical property investment decision making regarding the strategic role of German REITs in a portfolio.

The German wine law has been made responsible as one of the reasons for the critical market position of German wines inside and outside Germany. As a consequence, a new wine law (the profile wine concept) has been introduced in year 2000. As consumers are increasingly looking for variety and change the wine denomination becomes a critical purchasing criterion beside bottle and brand design. The main function of a wine law is to reduce the perceived purchasing uncertainty of consumers. We analyse the factors that determine the degree of consumer uncertainty when buying wine. This uncertainty can be reduced by the information economics mechanism of signalling. We derive signalling requirements that an efficient wine law should fulfill. Subsequently we analyse how the former German wine law and the new profile wine concept comply with these requirements by analysing their effects on three distinctive consumer groups within the concept of the triangle of goods characteristics. We conclude by opposing governmental regulation on the wine market with possible self regulation possibilities within the industry.