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This is the age of globalisation, a term which has numerous definition (Dunning, 1997), but generally refers to a process of "tighter international linkages on a world-wide scale" (De Wit and Meyer, 1998).
On the other hand, UK has also become a major host country for foreign multinational investment. Corporate interests shed light on market share-hold and thus intensify competition. Consequently, the prospect for enhanced efficiency and welfare gain is created, as increased number of firms promote lower prices, increase output levels and enhance the potential for quality improvements. The consequences of globalisation and such openness to multinationals is still a matter for debate, but a major area of interest is the impact of global integration in the UK environment
Inevitably, the importance of regulation is evident through the significant growth in global regulatory changes throughout the 1990's...
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