Title: Greek banks in new emerging South Eastern European markets

Authors: Labros Vasiliadis

Addresses: Faculty of Business and Economics, T.E.I. of Chalkida, Psahna, 34400, Greece; Center of Education for Adults, Greek Ministry of Education, M. Kakara 63, Chalkida, 34100, Greece

Abstract: This research aims to examine how Greek banks penetrate and expand into new emerging South Eastern European markets. Empirical data were collected by using secondary and primary data sources. Primary data sources included semi-structured interviews with managers from the banks' headquarters as well as managers of their activities in the region. The theoretical view relies on the firms' internationalisation and business network theories and the varieties in the behaviour are explained by the degree of business commitment and knowledge. The analysis of the Greek banks' behaviour, concerning their penetration and expansion in the region, reveals that commitment and knowledge also have political dimensions, which complement business commitment and knowledge. Based on the findings, the outcomes of this paper add new knowledge to the Greek banks' internationalisation, for the better understanding of market entry and expansion, offering managerial implications for management of political relationships.

Keywords: Greek banks; market entry; expansion; South Eastern Europe; Greece; emerging markets; internationalisation; business networks; political relationships; banking industry.

DOI: 10.1504/JIBED.2013.052133

Journal for International Business and Entrepreneurship Development, 2013 Vol.7 No.1, pp.81 - 92

Available online: 15 Feb 2013 *

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