Financial crisis and Greek banks' internationalisation

Abstract

This study aims to examine how Greek banks internationally behave before and during the financial crisis, focusing in South-Eastern European (SEE) countries, in relation of aspects as business commitment and political dimensions. Empirical data were collected by using 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' international behaviour 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.