The dramatic rise of Japanese foreign direct investment (FDI) in Europe in the 1980s has stimulated enormous interest among scholars, policy-makers, and managers eager to understand the real significance of the 'Japanese challenge'.

In this book prominent scholars from Europe, Japan, and the United States analyse the causes and consequences of these investment flows and the factors that shape them (market access, industry and firm specific characteristics, technology flows, etc.) and the forms they may take (direct investment, joint venture, more general trading networks).

The book begins with a broad overview of recent and historical trends and then focuses in particular on three strategic industries - financial services, electronics, and automobiles.

In doing so the book's purpose is to examine a number of interrelated questions: do Japanese multinationals operate differently in terms of investment flows; sectoral, corporate, and managerial strategies? What are the implications for host countries and industries? Are there differences in structure and performance? Should this investment be welcomed? What are the policy options for the European community? In sum, 'does ownership matter?'.

Managers, policy-makers, academics - anyone on either side of the Atlantic or the Pacific interested in foreign investment - will find that Does Ownership Matter? establishes a new benchmark in our understanding of Japanese multinationals in Europe.