Where business networks and institutions meet: Internationalization decision-making under uncertainty |
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| Institution: | 1. Department of Innovation, Entrepreneurship and Investment Management/Center for Vietnamese Studies, Zhejiang University of Technology, 310024, China;2. School of Technology and Business Studies, Dalarna University, Sweden;3. Department of Business Studies, Uppsala University, Sweden;4. Center for International Business Studies, Fundação Getúlio Vargas, Brazil;5. Department of International Marketing, Poznań University of Economics and Business, Poland;6. Department of Communication Sciences, Humanities and International Studies, University of Urbino Carlo Bo, Italy |
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| Abstract: | Both business networks and institutional forces are relevant to firm internationalization but they have seldom been studied together. We investigate under what circumstances firms are more likely to adopt non-predictive strategy in light of the influence of the business networks, the institutional forces, and the home market background affecting their internationalization. Based on survey data from 758 small and medium-sized enterprises (SMEs) from Brazil, China, Poland, Italy, and Sweden, our results support the effects of formal institutional distance and cultural differences on the use of non-predictive strategies by SMEs in internationalization decisions, as well as the contingency effects of business network stability and of having an emerging market background. We integrate research on the liability of foreignness and the liability of outsidership and find that business network stability is critical. It does not moderate the relation between cultural difference and NPS adoption but attenuates the negative relation between institutional distance and NPS adoption, indicating that the liabilities of foreignness and outsidership play different roles in internationalization. |
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