The main emphasis of this thesis has been the study of joint ventures, with acquisitions being analysed as an alternative and comparable strategy. The Introduction seeks to answer the questions of how many transnational joint ventures and acquisitions have taken place within the EEC in recent years, and how they have been distributed on a regional and industrial basis. Chapter One examines previous studies on joint ventures with respect to the structural effects of co-operation on the industry, notably upon competition. This theme is developed in Chapter Two, which looks at joint ventures in the light of EEC competition policy. The attitudes of the EC Commission towards co-operation are examined, together with attempts by the Commission to enhance the prospects for transnational co-operation and to create a more uniform competitive environment across the EEC. Chapter Three then examines the firm's point of view, and is thus concerned with the relevant aspects of corporate strategy. Different entry strategies for firms seeking to penetrate EEC markets are described, with an emphasis on joint ventures and acquisitions, together with some of the issues involved in planning, setting up and running such operations. The thesis has concentrated on the mechanical engineering industry, background information on which is the basis of Chapter Four. This shows the importance of international trade, and thus highlights the relevance of transnational strategy, to this industry. Chapter Five draws together themes from the earlier chapters and shows their influences on the central part of this thesis, a survey of engineering companies throughout the UH and EEC which have engaged in transnational joint ventures and acquisitions. This chapter also describes the methodology of the research programme. The results of the survey are described in Chapters Six and Seven.
|Date of Award||1983|