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Expectations in the internationalization process: The case of two Swedish banks’ foreign activities 1995-2010
Mälardalen University.ORCID iD: 0000-0002-9009-3575
2013 (English)Licentiate thesis, monograph (Other academic)
Abstract [en]

Studies of banks’ internationalization are few, particularly of Swedish banks’ and studies holding a process view of internationalization. This is surprising considering the fact that banks’ have an incredibly important role in our societies. Furthermore, the Swedish banks have until recently been restricted from internationalizing. However today the four largest Swedish banks have all become multinational. The purpose of this thesis is to describe and analyze the two Swedish banks Handelsbanken and Swedbank’s internationalization process between the years 1995-2010. This achieved by covering all relevant foreign markets that the banks are active in during their internationalization process in a longitudinal cross-case study based on archival sources (i.e. newspaper articles, press releases and annual reports). The analytical framework is constructed from behavioral theories and follows a process view of firms’ internationalization by applying the concepts of market commitment, market knowledge and expectation. Latterly firms’ expectation is included to take the future dimension into account in understanding firms’ internationalization behavior.

Conclusions made in this thesis show that the banks internationalization process has some semblances but otherwise they show completely different internationalization behaviors. The study shows that firms’ internationalization process is bound to what the firm will expect of the future and that this expectation is very different based on what knowledge the firm has and its experience. Furthermore the study evidences through empirical findings that the internationalization process of firms’ is also strongly related to the state of the market, i.e. stable or unstable.

Abstract [sv]

Studier av bankers internationalisering är relativt få i sitt omfång, särskilt om svenska banker och studier med en teoretisk process vy över internationalisering. Det här är ganska överraskande med tanke på hur viktiga bankerna är i vårt samhälle. Samtidigt var det inte särskilt länge sedan som bankerna var reglerade från att internationalisera medan de idag fyra stora svenska bankerna samtliga har blivit multinationella. Därför är syftet med denna avhandling är att beskriva och analysera de två svenska bankerna Handelsbanken och Swedbanks internationaliserings process mellan åren 1995 och 2010. Studien följer samtliga relevanta marknader som bankerna är aktiva i under deras internationalisering process genom två longitudinella fallstudier baserad på arkiv data (framför allt tidningsartiklar, pressmeddelanden och årsredovisningar). Det analytiska ramverket är grundat på beteendeteorier och följer bankernas internationalisering ur en process vy med koncepten marknadsåtagande, marknadskunskap och förväntningar. Den senare är inkluderat i syfte att fånga in den framtida dimensionen påverkan på företags internationaliserings beteende.

Slutsatser som görs i avhandlingen är t.ex. att bankernas internationaliseringsprocess har sina likheter i vissa aspekter men är ändå helt olika i deras internationaliseringsbeteende. Studien visar att företags internationaliseringsprocess är bunden till vad företagen förväntar sig av framtiden och att denna förväntning kan se väldigt olika ut beroende på vilka kunskaper och erfarenheter företaget besitter. Därutöver gör studien det empiriska upptäckten att företags internationaliserings process är starkt beroende på marknadstillståndet, d.v.s. om det är stabilt eller instabilt.

Place, publisher, year, edition, pages
Västerås: Mälardalen University , 2013.
Series
Mälardalen University Press Licentiate Theses, ISSN 1651-9256 ; 169
Keyword [en]
Expectation, bank, commitment, knowledge, internationalization, process, case
National Category
Business Administration
Research subject
Business Studies
Identifiers
URN: urn:nbn:se:uu:diva-218122ISBN: 978-91-7485-114-4 (print)OAI: oai:DiVA.org:uu-218122DiVA: diva2:694920
Presentation
2013-06-11, Pi, Högskoleplan 1, Västerås, 13:15 (English)
Opponent
Supervisors
Available from: 2014-02-18 Created: 2014-02-08 Last updated: 2016-04-11Bibliographically approved
In thesis
1. Executive expectation in the internationalization process of banks: The study of two Swedish banks foreign activities
Open this publication in new window or tab >>Executive expectation in the internationalization process of banks: The study of two Swedish banks foreign activities
2016 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

Since the late 1980s, deregulation of the banking sector has opened new avenues for the internationalization of banks. There are, however, few studies on the internationalization of banks – particularly Swedish banks. The purpose of this thesis is to deepen our knowledge of bank’s internationalization process by studying how the executive function’s expectation of market conditions influences internationalization patterns. This thesis makes an empirical contribution by describing how the Swedish banks Svenska Handelsbanken AB and Swedbank AB have internationalized during the period 1995-2014. The empirical evidence comprises all of the two banks’ activities in foreign markets and the qualitative cases describing this process have been constructed using archival data (newspaper articles, press releases, and reports) complemented with interviews.

Beside the empirical contribution the thesis makes a theoretical contribution to internationalization theory and more specifically to Johanson and Vahlne’s (1977) internationalization process model. While Johanson and Vahlne’s model does have a strong explanatory value, it does not fully explain its mechanisms (Andersen, 1993; Leonidou & Katsikeas, 1996) and only firm’s internationalizing incrementally (Liesch et al., 2002). For explanation of both incremental and non-incremental behaviors this thesis provides a proposed view of bank’s internationalization where the concept of executive expectation is developed as a mediating variable in Johanson and Vahlne’s internationalization process model. To this end, executive expectation is described as the driving and hindering force in bank’s internationalization process influenced by exogenous and endogenous changes. 

Place, publisher, year, edition, pages
Uppsala: Företagsekonomiska institutionen, 2016. 107 p.
Series
Doctoral thesis / Företagsekonomiska institutionen, Uppsala universitet, ISSN 1103-8454 ; 177
Keyword
expectation, executive, internationalization, banks, knowledge, commitment
National Category
Business Administration
Research subject
Business Studies
Identifiers
urn:nbn:se:uu:diva-280666 (URN)978-91-506-2536-3 (ISBN)
Public defence
2016-05-04, Hörsal 2, Ekonomikum, Kyrkogårdsgatan 10, Uppsala, 13:00 (English)
Opponent
Supervisors
Funder
The Jan Wallander and Tom Hedelius Foundation
Available from: 2016-04-11 Created: 2016-03-14 Last updated: 2016-04-11

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