An Eclectic Theory of Cross-Border Entry in Retail Financial Services

Tobias C. Hoschka
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Tobias C. Hoschka: University of Oxford

Chapter Chapter Three in Cross-Border Entry in European Retail Financial Services, 1993, pp 75-107 from Palgrave Macmillan

Abstract: Abstract The post-war multinationalisation process in manufacturing industries has been the subject of frequent theoretical and empirical scrutiny. Cross-border entry activities in financial services, however, which have undergone a similarly significant expansion process have attracted much less attention in the academic literature. Existing studies on financial services focus almost exclusively on cross-border entry in wholesale and investment banking and not on retail financial services. This chapter therefore develops an eclectic theory of cross-border entry in retail financial services and the focus of the analysis is thereby placed on three crucial questions: Why does a financial services firm enter a foreign market, i.e. what competitive advantage may compensate a firm, for operating at a distance and in a foreign environment? Where does a financial services firm enter a foreign market, i.e. what particular host and home country characteristics induce cross-border entry? How does the financial services firm enter, i.e. which environmental and strategic factors determine the choice of cross-border entry vehicles?

Keywords: Foreign Direct Investment; Transaction Cost; Financial Service; Foreign Market; Foreign Firm (search for similar items in EconPapers)
Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-22979-6_4

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DOI: 10.1007/978-1-349-22979-6_4

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