Diversification and Internationalization in the European Single Market: The British Exception (Summer 2017)
Mayer, Michael (Author)
Hautz, Julia (Author)
Stadler, Christian (Author)
Whittington, Richard (Author)
Business History Review
Volume: 91
Issue: 2
Pages: 279-299
This article examines the long-run impact of the 1992 comple- tion of the European Single Market on the diversification and internationalization of European business. It does so at a par- ticular moment of crisis: the exit of the United Kingdom from the European Union (“Brexit”). The article finds that comple- tion of the European Single Market is indeed associated with significant and widespread changes in the strategies of Euro- pean businesses between 1993 and 2010. European business has converged on more focused diversification strategies and followed similar patterns of internationalization. The most sig- nificant exception is the consistently low level of British busi- ness’s commitment to European markets. The distinctiveness of British internationalization is, in a sense, Brexit foretold.
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