The Internationalisation of Retail Banking: Banco Santander's Journey towards Globalisation

Long Range Planning

Volumn 42, Issue 5-6, 2009, Pages 654-677

  Parada, Pedro ^a   Alemany, Luisa ^a   Planellas, Marcel ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

ACQUISITION TARGETS; CROSS-BORDER; FINANCIAL SERVICE FIRMS; FOREIGN MARKETS; GLOBALISATION; GROWTH OPTIONS; HOME BASE; INTERNATIONAL EXPANSION; INTERNATIONAL NETWORKS; INTERNATIONALISATION; KEY FEATURE; MANUFACTURING FIRMS; RETAIL BANKING; SHAREHOLDER VALUES; STRATEGIC ALLIANCE; THREE-STEP PROCESS;

MERGERS AND ACQUISITIONS; PROFITABILITY; SHAREHOLDERS;

COMMERCE;

BANKING; FINANCIAL SERVICES; FIRM SIZE; GLOBALIZATION; INDUSTRIAL DEVELOPMENT; MANUFACTURING; RETAILING; STRATEGIC APPROACH;

EID: 70649090114     PISSN: 00246301     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.lrp.2009.09.006     Document Type: Article

References (35)

1. For a comprehensive and in-depth evidence and discussion about the multinationality-performance relationship, see. Venzin M., Kumar V., and Kleine J. Internationalization of retail banks: a micro-level study of the multinationality-performance relationship. Management International Review 48 4 (2008) 463
2. To some extent we build on the idea that banks do not have to follow a single 'one best path', but can build their own trajectory. For a broader discussion, see. Volberda H., Van den Bosch F., Flier B., and Gedajlovic E. Following the herd or not? Patterns of renewal in the Netherlands and the UK. Long Range Planning 34 2 (2001) 209-229
3. Financial Times Global 500. Available at:. www.ft.com [accessed 29.06.2009]
4. Euromoney, Awards for Excellence, (June 2005).
5. Banco Santander, Presentation of 2008 Results to Analyst, Madrid (March 2009).
6. Werner S. Recent developments in international management research: a review of the top 20 management journals. Journal of Management 28 3 (2002) 277-305
7. Johansson J., and Wiedersheim P. The Internationalization of the firm - four Swedish cases. Journal of Management Studies 12 (1975) 305-322
8. Eisenhardt K.M. Building theories from case study research. Academy of Management Review 14 (1989) 488-511
9. See also. Yin R.K. Case Study Research: Design and Methods (1984), Sage, Newbury Park, CA
10. Piekkari R., and Welch C. Guest editors' introduction to the focused issue: qualitative research methods in international business. Management International Review 46 4 (2006) 391-396
11. Planellas M., and Alemany L. Banco Santander: Growth Strategy and Internationalization (1984-2005), Case Study (2006), ESADE Business School
12. Results of the research presented by Matias Rodriguez Inciarte and M. Planellas. Banco Santander Case Presentation, Expomanagement, Madrid, (2005). This is an example of strong collaboration among academics and practitioners that has been extensively advocated by for example. Grant R.M. The knowledge based view of the firm: implications for management practice. Long Range Planning 30 3 (1997) 450-454
13. This article uses multiple quotations from the major leaders noted here (and other senior executives) throughout, which were all obtained during these various encounters: to maintain the flow of argument, specific speakers are not always credited.
14. Fundación de las Cajas de Ahorros, (FUNCAS). Banking Coverage Ratios (2006), Fundación de las Cajas de Ahorros, Spain
15. For a few examples see Innovation models have explained how innovations are used as a platform for international expansion. Bilkey W., and Tesar G. The export behaviour of smaller Wisconsin manufacturing firms. Journal of International Business Studies 8 Spring-Summer (1977) 93-98
16. Cavusgil T. On the internationalization process of firms. European Research 8 (1980) 273-281
17. Reid S. The decision-maker and export entry and expansion. Journal of International Business Studies 12 Fall (1981) 101-111
18. and. Czinkota M.R., and Ricks D.A. The use of a multimeasurement approach in the determination of company export priorities. Journal of the Academy of Marketing Science 11 3 (1983) 283-291
19. Recent research on the effect of alliances on shareholder value show better results when alliances are close to the core business. For further analysis read. Garcia-Casraejos N., Alcalde-Fradejas N., and Espitia-Escuer M. Staying close to the core: lessons from studying the costs of unrelated alliances in Spanish banking. Long Range Planning 42 2 (2009) 194-215
20. March J.G. Exploration and exploitation in organizational learning. Organization Science 2 1 (1991) 71-87
21. See also. Spender J.C. Limits to learning from the west. The International Executive 3 (1992) 389-410
22. Hofstede G. Culture's Consequences: International Differences in Work-Related Values (1980), Sage, Newbury Park, CA
23. See also. Kogut B., and Singh H. The effect of national culture on the choice of entry mode. Journal of International Business Studies 19 3 (1988) 411-432
24. Timing also appeared as a key factor in other studies, such as the one on managing change at Novotel. For a deeper comparison see. Calori R., Baden-Fuller C., and Hunt B. Managing change at Novotel: back to the future. Long Range Planning 33 6 (2000) 779-804
25. An application of option theory to firms' international activities is developed in. Kogut B., and Kulatilaka N. Operating flexibility, global manufacturing and the option value of a multinational network. Management Science 40 1 (1994) 123-139
26. For a broader discussion about the interplay between exploration and exploitation read. Gupta A.K., Smith K.G., and Shalley C.E. The interplay between exploration and exploitation. The Academy of Management Journal 49 4 (2006) 693-706
27. For an in-depth discussion about the distinction between knowledge acquisition and accessing see Alliances have often been referred to knowledge-acquisition mechanisms. However, in this case there is evidence that the alliance was useful for a knowledge accessing purpose. Grant R., and Baden-Fuller C. A knowledge accesing theory of strategic alliances. Journal of Management Studies 41 1 (2004) 61.84
28. Inciarte J.R. The banking consolidation process in Europe: the Santander case. Universia Business Review 3rd Quarter (2005)
29. Planellas M. Interview with Alfredo Saez, Vice-president and CEO of Banco Santander. ESADE Alumni Association Magazine 117 (Spring 2006)
30. To some extent the relationship between the headquarters and the subsidiaries depends on the unique environmental and resource conditions of the subsidiary. For more information about alternative corporate arrangements see. Nohria N., and Ghoshal S. Differentiated fit and shared values: alternatives for managing headquarters-subsidiary relations. Strategic Management Journal 15 6 (1994) 491-502
31. Beyond the resources that are reinvested in the core business there is competence creation output resulting from location quality. For further discussion, see. Cantwell J.A., and Mudambi R. MNE competence-creating subsidiary mandates. Strategic Management Journal 26 2 (2005) 1109-1128
32. Dierickx I., and Cool K. Asset stock accumulation and the sustainability of competitive advantage. Management Science 35 12 (1989) 1504-1511
33. Parada P., and Planellas M. What is corporate strategy?. Harvard Deusto Business Review January (2007) 34-51
34. J. Johansson and P. Wiedersheim (1975), op. cit. at Ref 7.
35. Euromoney, Awards for Excellence, (June 2008).