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216
Index
A
ABB, 2, 28
acquisition(s)
Adams, 128–9, see also Adams
acquisition
asset potential, 104–5
in China, 179–80
cross-border, 14, 19, 99, 102,
106, 111, 115, 121–2
domestic, 99–100, 115, 121–2
financial rationale/strategic
differentiation, 101–2
geographic market entry, 102
vs. greenfield investment, 132–5
hard activities, 107–15
of human resources, 37
large-scale, 98
market penetration, 102–3
orphan syndrome, 108–9, 191
process issues, 122–8
reasons for, 97–100
soft activities, 115–22
success, 115, see also acquisition
success
transformational, 98, 190
vertical integration, 103
see also mergers and acquisitions
acquisition success, 115
centralized knowledge units,
126–8
communicate to stakeholders,
118–20
cultural differences, process for
addressing, 115–18
holistic due diligence, 110–13
partnering, 125–6
preacquisition planning, 109–10
process issues in, 122
centralized knowledge units,
126–8
partnering, 125–6
using light touch, 123–5
synergy evaluation, 113–15
top-team selection, 120–2
using light touch, 123–5
Adams acquisition, 18, 98,
128–9
see also Cadbury Schweppes
Aditya Birla Group, 2
rapid growth and globalization
of, 15
world stage aspirants, 151
Africa
Lonrho, 3, 17, 28, 103, 129–30,
191
see also Armstrong, David
see also South Africa
Alfa-Access-Renova (AAR), 93
see also BP-TNK
alliance units, 90, 91
Allied Domecq, 2
Amcor, 2, 28
Antimonopoly Law (AML), 180
ArcelorMittal, 43
Arc International, 2, 28, 45, 177,
185–6
see also de Fougières,
Guillaume
Armstrong, David, 130
see also Lonrho
Australia
Amcor, 2, 28
FDI inflow, 7
FDI outflows, 9
� INDEX 217
B
Banco de Brasil, 2, 151
Bank of Nigeria, 2, 28
BAT, 28, see also British American
Tobacco
Batista, Wesley, 162–3
see also JBS
Bayer, 2, 3, 98
beachhead effect, 137, 144, 147
Belgium
FDI inflow, 7
FDI outflows, 9
born global approach, 40
“born globals,” 42, 57, 145–6, 159
boundaries, definition of, 86
BP, 28, 44, see also British
Petroleum (BP)
Brazil
Banco de Brasil, 2, 151
domestic market, 197
energy cost, 31
FDI inflow, 7
growth, 198
JBS, 2, 28, 43, 54, 98, 151,
162–3, 200
labor cost, 31
transportation cost, 31
British Aerospace (BAe), 2, 28, 51
British American Tobacco (BAT),
2, 3, 81
British Petroleum (BP), 2, 3, 85,
103, 126, 198
and TNK-BP, 93–4
see also Grote, Byron
British Telecom (BT), 2, 3, 28, 51,
192, 193
business, participants view of, 27–9
business groups
in China, 173–4
cross-shareholdings in, 73
C
Cadbury Schweppes, 2, 18, 43, 98,
128–9
see also Adams acquisition; Carr,
Sir Roger
Canada
FDI inflow, 7
FDI outflows, 9
foreign ownership restriction, 51
capital investment, 7
Cargill, 2
greenfield investment in
Vietnam, 137, 146–7
local market, tailoring for, 28
restricted ownership, 51
Caribbean,
Evertec, 2, 28
Carr, Sir Roger
Cadbury Schweppes, 18, 129
Centrica, 94
centralized knowledge units, for
acquisition success, 126–8
Centrica, 2, 28, 43, 81, 94–5
see also Carr, Sir Roger
chaebol, see South Korea
Chile, FDI inflow in, 7
China, 165
acquisition, 179–80
Antimonopoly Law (AML),
180
Arc International, 185–6
business groups, 173–4
Chinese car industry, 188–9
Chinese guanxi, 174–5
Chinese perspective, 175–6
culture, 174–5
Danone and Wahaha Group joint
venture, 187–8
11th and 12th Five-Year Plans,
169–70
and emerging market globalizers,
199–200
FDI, 165–70
inflow, 7
outflows, 9
foreign ownership restriction, 51
“Go Global” campaign, 168
greenfield investment, 177
ICBC, 2, 11, 74, 92–3, 158
IMAX in, 186–7
issues, 181
INDEX218
China – continued
Chinese competitor, rise of,
184–5
employee retention and cost,
182–3
and overcoming difficulties,
176–7
perseverance, 183–4
trust, 181–2
joint ventures, 178–9
labor force, 197
long-term goals, 171–2
low-cost centers, 64
market, 197
Ministry of Commerce
(MOFCOM), 180
role of government, 170–3
Rover, 3, 189
strategic industry restriction, 30
survey participants, 181
Wahaha Group, 187–8
China Huiyuan Juice Group Ltd, 180
China Investment Corporation
(CITIC), 22
China Mobile, 169
China National Petroleum, 169
Chinese car industry, 188–9
Chinese competitor, rise of, 184–5
Chinese guanxi, 168, 174–5
Cinemark, 39
collaborative strategic alliances, 59,
60, 66, 67–9, 72
cross-shareholdings and business
groups, 73
minority equity stakes, 73–4
commercial contract/strategic
alliance, 66–7
commissioned specialists, 151
communication, definition of, 118
companies going global, 40
entry-mode choices, 44
control, 44–6, 55
corruption, 52
existing competition in market,
53
greater-risk markets, 53
intellectual property rights and
intangible assets, 53–6
local market awareness, 47–9, 55
openness of market to inward
investment, 50–2
resource allocation, 49–50, 55
speed, 46–7, 55
FDI, 44
internationalization, theories to,
40–4
Teva, 57–8
see also globalization
competition, in market, 53
Comptoir des Cotonniers, 95
contract farming, 61, 62
contractual strategic alliances, 59,
61–6, 66, 67
cookie-cutter expansion, 192–3
coopetition, 158–9
corruption, 52
Costain, 2
cost-savings alliances, 62–3
cross-border acquisition, 14, 19, 99,
102, 106, 111, 115, 121–2
vs. domestic acquisitions, 99–100
cross-border investment, 7, 9
government and venture capital
funds in, 21–5
cross-shareholdings, in business
groups, 73
cultural differences, process for
addressing, 115–18
culture, definition of, 115
D
Danone and Wahaha Group joint
venture, 187–8
see also Qinghou, Zong
de Fougières, Guillaume, 186
see also Arc International
degree of integration
and acquisitions, 100
asset potential, 104–5
financial rationale/strategic
ifferentiation, 101–2
geographic market entry, 102
� INDEX 219
market penetration, 102–3
vertical integration, 103
and organizational culture, 116
Diageo, 2, 3, 82, 91, 159
domestic acquisitions, 115, 122
vs. cross-border acquisitions,
99–100
domestic company, 3–4
Dong Feng Motors, 169
double-pronged attack, 190
due diligence, 86–7
E
early strategic internationalizer, 40,
42
economic facilitators, of
globalization, 15
economic risk, 31–2
Électricité de France (EDF), 94–5
emergency SOEs, 22
emerging market globalizers,
199–200
emerging market internationalizer,
19–21
emerging world globalizers
(EWGs), 19, 62, 63, 64,
149–50, 159
characteristics, 151
differing resource advantages
and constraints, 152–3
home market pressures,
153–4
latecomer syndrome, 154
liability of newness, 151–2
commissioned specialists, 151
GMR Group, 163–4
internationalization strategy, 156,
159–60
coopetition, 158–9
internal partnering, 156–7
learning before leaping, 157–8
networking, 158
JBS and Swift, 162–3
learning from, 195–6
niche entrepreneurs, 150–1
in search of resources, 154–6
transnational agents, 151
world stage aspirants, 151
EMI, 2
employee retention and cost, in
China, 182–3
entry-mode choices
additional issues, 50
corruption, 52
existing competition in market,
53
greater-risk markets, 53
intangible assets, 54
intellectual property rights, 53
openness of market to inward
investment, 50–2
risks associated with entry
modes, 54–6
for survey participants, 44
control, 44–6, 55
local market awareness, 47–9,
55
resource allocation, 49–50, 55
speed, 46–7, 55
equity investment alliances, 72
BP and TNK-BP, 93–4
Centrica and EDF, 94–5
collaborative strategic alliances,
72
cross-shareholdings and
business groups, 73
minority equity stakes, 73–4
Fast Retailing and Lotte, 95–6
and joint ventures, 74
level of venture control and
ownership, 78–81
ongoing processes, 89–90
partner selection, 81–8
strategic objectives, 77–8
success factors, 76–7
Standard Bank and ICBC, 92–3
strategic alliances, future trends
in, 90–1
see also joint ventures; strategic
alliances
equity mode of investment, 10–11
equity shareholding, 11
INDEX220
equity synergy, 74
European Union
economic zone (1994), 14
legislation, changes in, 30
Euro zone (1999), 14
Evertec, 2, 28
expansion vehicle SOEs, 25
Experian, 2, 28
F
facilitators, of globalization, 13
economic, 15
political, 13–14
technological, 14
Fair Labor Association (FLA), 70
Fast Retailing, 2, 54, 95–6
see also Lotte; Uniqlo
financial rationale/strategic
differentiation, and
acquisitions, 101–2
Ford Motor Company, 2, 3, 28,
103
Foreign Corrupt Practices Act
(FCPA), 52
foreign direct investment (FDI), 7,
44
in China, 165–70
inflows, 8
outflows, 9
see also specific countries
Foster, Greg, 38, 83, 178, 186
see also IMAX
France
Arc International, 2, 28, 45, 177,
185
Comptoir des Cotonniers, 95
Danone, 187–8
FDI inflow, 7
FDI outflows, 9
foreign ownership restriction,
51
Lafarge, 3, 28, 44, 48, 103, 109,
130–1
Pinault Printemps Redoute, 3
Princesse tam tam, 95
franchising, 61, 62, 65, 66
G
GDF Suez, 17–18, 24
General Motors, 23, 24, 189
general strategic alliance research,
59–61
geographic market entry, and
acquisitions, 102
Germany
Bayer, 2, 3, 98
FDI inflow, 7
FDI outflows, 9
SAP, 3, 28, 54
Schaeffler, 3, 28
global customers, ability to serve,
37–8
global expansion
of companies
born global approach, 40, 42
early strategic
internationalizer, 40, 42
network approach, 40, 41
opportunistic globalizer, 43
stage approach, 40
method, 10–12
retrenchment to, 17–18
globalfocussing, 15–17, 155
global hyper-competitive
marketplace, 6
globalization, 6, 27
business, participants view of,
27–9
definition, 3–5
facilitators, 13
economic, 15
political, 13–14
technological, 14
future trends, 197
China and emerging market
globalizers, 199–200
emerging world, 197–9
regionalization, 200–1
global expansion, method of,
10–12
going global, reasons for, 36
global customers, ability to
serve, 37–8
� INDEX 221
human resources, acquisition
of, 37
market entry, 36
market perceptions, 38–9
risk reduction, 36–7
international investor, changing
nature of
emerging market
internationalizer, 19–21
government and venture
capital funds, in cross-border
investment, 21–5
vs. internationalization, 6–7
major themes, 190
EWG, learning from, 195–6
local/global dichotomy, 193–4
market domination, 191–2
market knowledge, 194–5
replicable process, 192–3
strategy, 190–1
team expansion, 196–7
patterns, 7–9
regionalization, 4
risks, 29
economic, 31–2
intangibles management, 34–6
people management, 33–4
political, 29–31
social/market based, 32
trends, 15
global expansion, retrenchment
to, 17–18
globalfocussing, 15–17
merger and acquisition,
changing nature of, 18–19
see also companies going global
globalizers, 4–5, 64–5, 190, 193–4
market entry and expansion
methods, 190–1
see also globalization
global strategic alliances, definition
of, 11
GMR Group, 2, 83, 155, 163–4,
195
see also Rao, G.M
“Go Global” campaign, 168
going global
companies, 40
entry-mode choices, 44–56
FDI, 44
internationalization, theories
to, 40–4
Teva, 57–8
reasons for, 36
global customers, ability to
serve, 37–8
human resources, acquisition
of, 37
market entry, 36
market perceptions, 38–9
risk reduction, 36–7
see also globalization
going greenfield, reason for, 135–6
government funds, in cross-border
investment, 21–5
government’s role, in China, 170–3
greater-risk markets, 53
greenfield investment, 132
acquisition vs. strategic alliances,
132–5
attention, 140–1
beachhead effect, 137
“born globals,” 145–6
brand recognition, 141
in China, 177
corporate time, 140–1
expertise, 140–1
fast market assimilation, 143–4
following existing client, 137–8
in-house marketing talent, 138
leveraging international customer
base, 145
local management team, 142–3
low-cost manufacturing site,
establishment of, 138
vs. modes of entry, 135–6
patience and persistence, 144–5
piggybacking, 137
proactive planning, 142
product, 141
project leadership, 142–3
quick decision-making, 142
INDEX222
greenfield investment – continued
resources, 140–1
in Russia, 147–8
standardized technology/
product, 136–7
success in, 138–9
technological superiority, 141
in Vietnam, 146–7
Grote, Byron, 93, 94, 133
see also BP
guanxi, see Chinese guanxi
H
Haier, 169
hard activities, for acquisition
success, 107
holistic due diligence, 110–13
preacquisition planning, 109–10
synergy evaluation, 113–15
Harrods, purchase of, 22
Heineken International, 82, 91,
159
Helmut Lang, 95
Hewlett Packard (HP), 59, 64
Hindustan Lever, 131
Hitachi, 2, 28
holistic due diligence, for
acquisition success, 110–13
home market pressures, 153–4
Hong Kong
FDI inflow, 7
FDI outflows, 9
Hong Kong Shanghai Bank
(HSBC), 193
human resources, acquisition of, 37
Hyundai, rapid growth and
globalization of, 15
I
ICBC, 74, 92–3, see also Industrial
and Commercial Bank of
China (ICBC)
Illinois Tool Works (ITW), 2, 28
IMAX, 2, 28, 38, 39, 84, 85, 144,
178, 183, 186–7, 195
see also Foster, Greg
India
Aditya Birla Group, 2, 15, 151
due diligence, 86
FDI inflow, 7
GMR Group, 2, 83, 155, 163–4,
195
Lafarge in, 130–1
low-cost centers, 64
Indirectly Controlled SOEs
(ICSOEs), 173
Indonesia
FDI inflow, 7
foreign ownership restriction, 51
Industrial and Commercial Bank of
China (ICBC), 2, 11, 158
see also Standard Bank
in-house marketing talent, 138
Inorganic Growth Unit, 91
institutionalized trust, in China,
181–2
intangible assets, 54–6
intangibles management, 34–6
intellectual property rights, 53
internal partnering, 156–7
international enterprise, 4
international investor, changing
nature of
emerging market
internationalizer, 19–21
government and venture capital
funds in cross-border
investment, 21–5
internationalization, 10
and born global approach, 40, 42
EWGs for, 156, 159–60
coopetition, 158–9
internal partnering, 156–7
learning before leaping, 157–8
networking, 158
vs. globalization, 6–7
and opportunistic globalizer, 43
strategic commitment to, 159
theories to, 40–4
born global approach, 40, 42
early strategic internationalizer,
40, 42
� INDEX 223
network approach, 40, 41
opportunistic globalizer, 43
stage approach, 40
International Power plc, 18
international strategic alliance, 61
Intoll Group, 22
intra-firm collaboration, 114
investment
equity mode, 10–11
nonequity mode, 10–11, 59
collaborative strategic alliances,
59, 60, 67–9
commercial contract/strategic
alliance, 66–7
contractual strategic alliances,
59, 61–6
general strategic alliance
research, 59–61
Nike, 70–1
inward investment, openness of
market to, 50–2
Ireland, FDI inflow in, 7
Israel, 43, 47, see also Teva
Italy, FDI outflows in, 9
ITW, see also Illinois Tool Works
Iveco, 189
J
Japan
Fast Retailing, 2, 54, 95–6
FDI outflows, 9
foreign ownership restriction, 51
Hitachi, 2, 28
hostile takeovers, 31
JTI, 2, 3, 24, 28, 37
keiretsu, 73, 158, 168, 173
LIXIL Group Corporation, 3
Lotte, 95–6
M&A, 31
Mitsubishi Chemicals, 3
Nidec Corporation, 28, 42
Sony, 3, 28, 103
Taiyo, 58
Japan Tobacco Incorporated (JTI),
2, 24, 28, 37
Japan Tobacco International, 3
JBS, 2, 28, 43, 54, 98, 151, 200
and Swift, 162–3
see also Batista, Wesley;
O’Callaghan, Jerry
Jinga, 187
joint ventures, 74
Centrica and EDF, 94–5
in China, 178–9
Danone and Wahaha Group,
187–8
Fast Retailing and Lotte, 95–6
level of venture control and
ownership, 78–81
ongoing processes, 88–90
partner selection, 81
partner commitment and trust,
82–5
partner compatibility, 85
partner complementarity, 81–2
process issues in, 85–8
strategic objectives, 77–8
success factors, 76–7
TNK-BP Russian joint venture,
81, 93–4
virtual, 90, 91
K
keiretsu, 73, 158, 168, 173, see also
Japan
knowledge, about market, 194–5
KPMG, 2, 19, 98–9, 101, 102, 109,
111, 115, 119, 121, 122, 193
acquisition success and failure
study (1999), 106, 107
KPMG Business Person of the
Year lecture (2012), 1
Kraft, 18
L
Lafarge, 3, 28, 44, 48, 103, 109,
130–1
latecomer syndrome, 154
Lenovo, 169
level of control and venture
ownership, 78–81
liability of newness, 151–2
INDEX224
licensing agreements, 4, 10, 36, 44,
61, 62, 65, 66, 187
LIXIL Group Corporation, 3
Liz Claiborne, 70
local/global dichotomy, 193–4
local market awareness, 47–9
long-term internationalizers, 160
Lonrho, 3, 17, 28, 103, 129–30, 191
see also Armstrong, David; Rollex
Lonza, 82
Lotte, 95–6
see also Fast Retailing; Japan;
South Korea
low-cost manufacturing site,
establishment of, 138
Luxembourg
FDI inflow, 7
FDI outflows, 9
M
Malaysia, foreign ownership
restriction in, 51
Mannesmann, 18
market based risk, 32
market domination, 191–2
market entry, 36, 98
market knowledge, 194–5
market openness, to inward
investment, 50–2
market penetration, and
acquisitions, 102–3
market perceptions, 38–9
mergers and acquisitions, 97
Cadbury Schweppes and Adams
acquisition, 128–9
changing nature, 18–19
degree of integration, 100
asset potential, 104–5
financial rationale/strategic
differentiation, 101–2
geographic market entry, 102
market penetration, 102–3
vertical integration, 103
expansion methods and reasons
for acquiring, 97–100
JBS and Swift, 162–3
Lafarge in India, 130–1
Lonrho and Rollex, 129–30
success and failure, 106
hard activities, 107–15
process issues, 122–8
soft activities, 115–22
Mexico
FDI inflow, 7
foreign ownership restriction, 51
Microsoft, 64
Millennia Merger Wave, 17, 18
minority equity cross-holdings, 73
minority equity stakes, 73–4
minority shareholding, 11–12
Mitsubishi Chemicals, 3
Mittal, 43
see also ArcelorMittal
modern Chinese development,
history of, 166
multinational enterprises (MNEs), 4
N
Namibia Breweries, 82, 91, 159
Nanjing Automotive, 189
Netherlands, FDI outflows in, 9
network approach, and
internationalization, 40, 41
networking, 158
niche entrepreneurs, 150–1
Nidec Corporation, 3, 28, 42, 44,
103, 145, 160, 161
see also Yoshimatsu, Masuo
Nigeria, 2, 28, see also Bank of Nigeria
Nike, 63, 66, 70–1
nonequity modes of investment,
10–11, 59
collaborative strategic alliances,
59, 60, 67–9
commercial contract/strategic
alliance, 66–7
contractual strategic alliances, 59,
61–6
estimation, 62
general strategic alliance research,
59–61
Nike, 70–1
� INDEX 225
nontraditional arrangements, 66
nontraditional partnerships, 90
Norwegian Government Pension
Fund, 22
O
O’Callaghan, Jerry, 162–3
see also JBS
offshoring vs. outsourcing, 63
offsourcing, 63
ongoing processes, in joint venture,
88–90
openness of market, to inward
investment, 50–2
operational synergies, 113
opportunistic globalizer, 43
Oracle, 59, 64
organizational culture and degree
of integration, 116
orphan syndrome acquisitions,
108–9, 130–1, 191
outsourcing, 10, 61, 64, 65, 66, 67,
138, 145
P
participants view of business, in
global context, 27–9
partner commitment and trust,
82–5
partner compatibility, 85
partner complementarity, 81–2
partnering, for acquisition success,
125–6, 156
partner selection, 81–5
process issues in, 85–8
patterns, of globalization, 7–9
Pension Plan Investment Board, 22
people management, 33–4
perceptions, of market, 38–9
perseverance, in China, 183–4
persistent late internationalizers,
160
Petrofac, 3
Pfizer, 18
Philippines, foreign ownership
restriction in, 51
piggyback approach, 42, 137, 144,
147
Pinault Printemps Redoute, 3
political facilitators, of
globalization, 13–14
political risk, 29–31
preacquisition planning, for
acquisition success, 109–10
Princesse tam tam, 95
privatized SOEs, 23
Procter & Gamble, 57, 193
project-based ventures, 90–1
Q
Qatar Investment Authority, 22
Qinghou, Zong, 187
see also Danone and Wahaha
Group joint venture
R
Rao, G. M., 155, 164
see also GMR Group
Reebok, 70
Regal Entertainment, 39
regionalization, 4, 200–1
Renault–Nissan alliance, 88
replicable process, for world
expansion, 192–3
resource allocation, 49–50
risk(s), 29
economic, 31–2
intangibles management, 34–6
people management, 33–4
political, 29–31
reduction, 36–7
social/market based, 32
RJR Nabisco, 18
Rollex, 129–30
see also Lonrho
Rover, 3, 189
Royal Bank of Scotland, 23, 93
Royal Dutch Shell, 81
Russian Federation
fast-emerging markets, 198
FDI inflow, 7
FDI outflows, 9
INDEX226
Russian Federation – continued
foreign ownership restriction, 51
Tele2
greenfield investment in,
147–8
organic growth, 192
S
Samsung, rapid growth and
globalization of, 15
Santander, 3, 11, 17, 28, 43, 93,
200
SAP, 3, 28, 54
Saudia Arabia, FDI inflow in, 7
scale resources, 82
Schaeffler, 3, 28
serendipitous internationalizers, 160
Shanghai Automotive Industry
Corporation (SAIC), 169,
188–9
Singapore
FDI inflow, 7
FDI outflows, 9
SINOPEC, 169
social risk, 32
soft activities, for acquisition
success, 115
communicate to stakeholders,
118–20
cultural differences, process for
addressing, 115–18
top-team selection, 120–2
soft synergies, 113–14
Sony, 3, 28, 103
South Africa
Heineken International in, 82,
91, 159
market share in, 192
Namibia Breweries, 82, 91, 159
Standard Bank, 3, 11, 17, 27–8,
74, 92–3, 158
South Korea
chaebol, 73, 158, 168, 173
FDI outflows in, 9
Lotte, 95–6
sovereign wealth funds, 22, 151
sovereign wealth SOEs, 23
Spain
FDI inflow, 7
FDI outflows, 9
Santander, 2, 3, 11, 17, 28, 43,
93, 200
University of Madrid, 3
split control, 80
springboarding process, 156
stage approach, and
internationalization, 40
stakeholders, communication to,
118–20
Standard Bank, 3, 11, 17, 27–8, 74,
92–3, 158
see also Industrial and
Commercial Bank of China
(ICBC)
state-influenced funds, 22
state-owned enterprises (SOEs), 14,
21–5, 167
strategic alliances, 11
collaborative, 59, 60, 66, 67–9, 72
cross-shareholdings and
business groups, 73
minority equity stakes, 73–4
commercial contract, 66–7
contractual, 59, 61–6
differences, 66
future trends in, 90–1
general strategic alliance research,
59–61
vs. greenfield investment, 132–5
international, 61
meaning, 61
see also equity investment
alliances; joint ventures
strategic early internationalizers,
159–60
Strategic Emerging Industries
(SEIs), 170
strategic symmetry, 82
strategy, for globalization, 190–1
Sweden
FDI outflows in, 9
Tele2, 3, 17, 28, 51
� INDEX 227
Swift, 162–3
see also JBS
Switzerland
ABB, 2, 28
FDI outflows in, 9
synergy evaluation, for acquisition
success, 113–15
T
Taiyo, 58
Tata, rapid growth and
globalization of, 15
team expansion, and globalization,
196–7
technological facilitators, of
globalization, 14
Tele2, 3, 17, 28, 51, 137, 147–8,
192, 196, 198, 200
see also Torstensson, Lars
Teva, 3, 49, 57–8
see also Yanai, Shlomo
Thailand, foreign ownership
restriction in, 51
Theory, 95
TNK-BP Russian joint venture, 81,
93–4
top-line growth alliances, 62
top-team selection, for acquisition
success, 120–2
Torstensson, Lars, 147–8
see also Tele2
traditional contracts, 66
transformational acquisitions, 98, 190
transnational agents, 151
transnational corporations
(TNCs), 4
trends, in globalization, 15
global expansion, retrenchment
to, 17–18
globalfocussing, 15–17
merger and acquisition, changing
nature of, 18–19
trust
in China, 181–2
and partner commitment, 82–5
Turkey, 81
U
Unilever, 81
Uniqlo, 54, 95
see also Fast Retailing
United Kingdom (UK)
Allied Domecq, 2
BAe, 2, 28, 51
BAT, 2, 3, 28, 81
BP, 2, 3, 28, 44, 85, 93–4, 103,
126, 133, 198
BT, 2, 3, 28, 51, 192, 193
Cadbury Schweppes, 2, 18, 43,
98, 128–9
Centrica, 2, 28, 43, 81, 94–5
Costain, 2
Diageo, 2, 3, 82, 91, 159
FDI inflow in, 7
KPMG, 2, 19, 98, 99, 101, 102
Petrofac, 3
Rover, 3, 189
United States (USA)
Cargill, 2, 28, 51, 137, 146–7
EMI, 2
Experian, 2, 28
FDI inflow, 7
FDI outflows, 9
Ford Motor Company, 2, 3, 28,
103
Illinois Tool Works, 2, 28
IMAX, 2, 28, 38, 39
Theory, 95
United Technologies, 3, 28
United Technologies (UTC), 3, 28
University of Madrid, 3
Uppsala Theory, 40, 41
UTC, 3, 28, see also United
Technologies (UTC)
V
venture capital funds, in cross-
border investment, 21–5
vertical integration acquisitions,
103
Vietnam, Cargill’s greenfield
investment in, 146–7
virtual joint ventures, 90, 91
INDEX228
Vodafone, 18
Volkswagen, 189
Volvo, 189
W
Wahaha Group and Danone joint
venture, 187–8
Walmart, 63, 64
world stage aspirants, 151
World Trade Center, 19
World Trade Organization (WTO),
13, 167
Y
Yanai, Shlomo, 57, 58
see also Teva
Yoshimatsu, Masuo, 161
see also Nidec Corporation