Purpose – The purpose of this paper is to explore the relationships between the strategic development of subsidiaries and the likelihood of subsidiaries exporting on an intra‐regional basis to European markets. Design/methodology/approach – The paper defines the strategic development of...

A close reading of Adam Smith’s works, “An Inquiry into the Nature and Causes of Wealth of Nations” and “The Theory of Moral Sentiments,” indicates that he would not support the advocacy of free markets wholeheartedly. His view on market systems, although “free,” implies strong...