Purpose
The purpose of this paper is to investigate the social-cognitive antecedents of an entrepreneur’s internationalization intent and a firm’s behavior. Building on the insights of social-cognitive psychology, the author develops a conceptual model linking an entrepreneur’s positive orientation, self-efficacy beliefs, internationalization intent and actual behavior of the firm.
Design/methodology/approach
The author tests this model with a sample of 310 Polish firms (including 241 domestic and 69 international new ventures), drawing on data collected first in 2006 and then in 2007.
Findings
The author finds that self-efficacy mediates between positive orientation and internationalization intent, and that an entrepreneur’s internationalization intent predicts a firm’s behavior (i.e. foreign market entry). Moreover, firm age moderates the relationship between an entrepreneur’s positive orientation and internationalization propensity among new ventures.
Research limitations/implications
Overall, the findings demonstrate that social-cognitive theory is useful in predicting new venture internationalization.
Practical implications
Based on the findings, the author recommends that managerial education in international management combines the development of “formal” skills and cross-cultural competencies with experiential and vicarious learning.
Originality/value
The study combines insights from psychology and international business, thus responding to numerous calls for a more interdisciplinary and cognition-oriented focus on the international behavior of firms.
Venture Capitalists as Catalysts to New Venture Internationalization: The Impact of Their Knowledge and Reputation Resources
