Europe's big companies are old and excel in old technologies
Europe's big companies are old and excel in old technologies. Most of the companies were founded before the second half of the twentieth century. In 1999, about a third of the world’s 1,000 largest firms by market capitalization were based in the United States, and of these, 35% were founded after 1950. Europe had only 181 firms among the 1,000 largest, and of these, only 14% were founded after 1950. Today, the US and emerging economies far outrank Europe and Japan in the number of big companies founded since 1975.
-----To continue reading, subscribe to our premium service-----
