By Birgit Hegge
In simply obtainable language, this publication analyses the influence of financial and financial Union on Small and Medium sized agencies (SME's) in Europe. This overarching and generally researched research explains in a jargon-free demeanour the mechanisms of EMU and it truly is most probably impression on SME's. The publication then is going directly to clarify and view the result of seven case stories in Germany and France. solutions to many questions that experience arisen through the years concerning SME's and eu integration are available within the pages of this examine. In a remarkably well-written and researched publication, Birgit Hegge has succeeded in bringing jointly attention-grabbing parts of analysis in an unique and insightful demeanour. This publication should be exceptionally beneficial as a historical past reference for foreign economics and company scholars at a complicated point. The facts and conclusions of this publication also will without doubt make tremendous fascinating studying for eu coverage makers besides these serious about ecu company.
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Extra resources for SME's and European Integration: Internationalisation Strategies
Sample text
Petersen and Pedersen37 achieved similar results from empirical studies and argued that the propensity to leapfrog is not particularly low among SMEs compared to larger firms. In this context, Zaby38 criticised the Uppsala School model by pointing out that firms have leapfrogged intermediate stages of the internationalisation process. He emphasised that the internationalisation process cannot be generalised across industries. In their empirical study on the influence of the Single Market Programme on international strategies of Spanish medium-sized enterprises, Jarillo and Martinez39 found that half the firms did not follow the stage-theory model.
The firm can gain internalisation advantages through its coordination of R&D activities in Germany and in France which extends its original ownership advantage by innovating in both countries. 1 The three main questions and the different existing theories Response Theory Why undertake a direct investment? Where should the plant be? Ownership-specific advantages Location advantages How should it be organised? Internalisation advantages Market theory and theory of industrial organisation Theory of international specialisation and theory of capital Management theory and organisation theory Source: Jacquemot, P.
2 If the potential small and medium-sized TNC wants to choose the costminimising way to serve a foreign market, it has to take into consideration all the factors favouring one or the other way of going international. When deciding between FDI and exporting, a firm must take into account the following factors: . . location factors of a potential foreign market possible internalisation advantages firm-specific factors. 3 One important target-country factor is the present size of the targetcountry market as relatively small markets favour exporting and large markets favour FDI.