European integration and competitiveness

the long version

European firms have used external growth operations to improve competitiveness in preparation both for the European single market and increasing economic globalization. European Integration and Competitiveness uses original data to examine mergers, acquisitions and cooperative alliances between firms in the period from 1980 to 1992. A comparison of the evolution of external growth operations within the European Community, and between EC and non-EC firms, is followed by a series of sectoral chapters which examine the role of external growth operations in the strategies of firms. The rationale of the single market, with lower barriers of entry within the EC and economies of scale, is shown to be insufficient to improve competitiveness, firstly because firms' strategies have to answer the globalization trends and secondly because external growth operations may have widened the gap between the competitiveness of firms and the competitiveness of nations. This unique and important book compares mergers, acquisitions and alliances, to show why a firm may prefer one type of operation to another. It will be welcomed by economists and students in the fields of industrial economics, international economics and European studies, as well as by public and business policy makers.