Corporate finance and strategy a European view

John Holland

European Management Journal, 1985, vol. 3, issue 2, 94-102

Abstract: The disintegration of European financial markets means that many of the fundamental assumptions about corporate finance and strategy derived from US experience cannot be expected to apply in Europe. The author argues that there are four main sources of financial policy -- the view of markets as efficient, market imperfections, multinational companies as active economic agents, and political risks faced by firms. He places these in the context of European institutions and practices, and derives from them the principal implications for multinational financial decision making, culminating in a three stage decision making process.

Date: 1985
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