New Patterns of Industrial Globalisation : Cross-border Mergers and Acquisitions and Strategic Alliances

New patterns of globalisation are accelerating the internationalisation of industry and reshaping industrial structure at the global level. Rapidly growing cross-border mergers and acquisitions (M&As) and strategic alliances are distinctive features of globalisation in the current era. They have become common paths to internationalising business operations, research and markets, together with traditional forms of trade and investment. An overwhelming share of foreign direct investment (FDI) is now in the form of M&As rather than greenfield investment, as firms shelve earlier diversification an