No doubt, Europe has made tremendous strides towards the establishment of a Single Market. The question we want to address in this presentation is how European are European corporations? We know that product markets are well integrated, which implies that European corporations operate Europe-wide. We also know that capital markets are becoming integrated, which means that European corporations raise equity, and that means finance also Europe-wide.

But what about control? Are European corporations still controlled by purely domestic executives and non-executives? Or are they truly European with nationally diverse executive and non-executive boards?