Introduction to the book
This introductory chapter begins with a brief discussion of the emergence of a new era of global banking and insurance. It outlines five of the reasons to study the financial services industry. It then describes the structure of the book. The book provides an overview of how expansionary strategies of financial services firms are impacted by globalization and discusses performance drivers during internationalization processes. It explores and challenges conventional assumptions from the international management literature on topics such as the limits of international expansion, the importance of cultural and institutional distance, the nature of economies of scale and scope, the existence of first mover advantages, the logic behind the global value chain configuration, the speed and timing of market entry, and the organizational architecture.
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