This thesis investigates the internationalisation and risk management strategies of three Norwegian manufacturing firms that first commenced Foreign Direct Investment (FDI) in the late 1960s and early 1970s. The three firms are: Dyno Industrier; Norcem; and Elkem-Spigerverket. Dyno invested in West Germany, England, Singapore, Denmark and Finland; Norcem invested in Ghana, Liberia, the Philippines, and Ras al-Khaimah; and Elkem-Spigerverket invested in the United Kingdom. The three firms were relatively early to invest abroad in comparison to the majority of Norwegian firms. For all three firms, risk and risk management was an important factor in their investment decisions. This research examines why the three firms decided to invest abroad, the context of their investment decision, how they viewed the risk involved with the investments, and which strategies they implemented to manage the risks. A comparison between the three firms is drawn in order to identify similarities and differences in their risk-management strategies and investment decisions. The thesis also investigates the extent to which modern risk management was practised by the three firms in the 1960s and the 1970s. The research was carried out using historical methods, primarily based on company archives, company magazines, government archives, and newspaper articles, which are used to highlight the firms’ investments, the contexts to those, and their risk management strategies.Oral history interviews were conducted with four former senior managers and decision-makers in the three selected firms. The investments made by the three firms are described and discussed in individual chapters, followed by a comparison and discussion of the three firms’ risk management strategies. The research finds that several risk management strategies were used by the three firms when they invested abroad. State guarantees, shared ownership, and networking/relationships with local governments were particularly important as risk management strategies.
|Date of Award||4 Feb 2019|
- University Of Strathclyde
|Supervisor||Lesley Walls (Supervisor) & Andrew Perchard (Supervisor)|