The financial services industry is experiencing rapid consolidation globally. Consolidation has proceeded not only in the same market but also across different market segments and across national boundaries. In this paper, we (a) outline the general trend of the mergers and acquisitions (M&As)...

We provide an overview of the Australian and New Zealand telecommunications markets through Telecom Corporation New Zealand's (TCNZ) acquisition of AAPT Ltd in 2000, which amounted to more than NZ$2 billion. A few years later and after writing off approximately NZ$1 billion, TCNZ is considering...

This paper applies the concept of value creation to examine the strategic management of multinational enterprises. “International strategic management” is first defined as the process through which value is created by managers operating across a national border. The domain of international...

In a fundamental sense, creation of value is the purpose of a firm. Values – measured by profits, cash flows, stock prices, or some strategic objectives – are the ultimate reasons why a firm exists. The ongoing and ever-expanding discussion of globalization, whether based on trade flows or...

In recent years, alliances have become even more popular than mergers and acquisitions. Alliance formation has led to the emergence of interconnected firms, which are embedded in alliance networks. This paper offers a theory of network resources to evaluate the competitive advantage of...