The determinants of international new venture performance: a review and future research agenda

PurposeThe purpose of this paper is to critically review and synthesize the articles on determinants of international new venture (INV) performance to identify the research gaps in this area and develop a future research agenda.Design/methodology/approachAdopting a semi-systematic review approach with a fucus on using a vote-counting technique, this paper reviews 99 journal articles published between 1994 and 2019 to assess the determinants of INV performance.FindingsThe results indicate that the majority of the INV performance articles employ a clearly specified theoretical foundation, focus on INVs in developed economies and non-service sectors, identify numerous firm-level determinants of INV performance and use advanced statistical methods (e.g. structural equation modeling and panel data models). However, the research of INV performance is still limited by a lack of a broader integration of theories at different levels, inconsistent theoretical predictions and empirical results, knowledge gaps, and estimation biases (e.g. endogeneity).Originality/valueINV performance has received increasing attention over recent decades, but this area is still characterized by fragmentation and inconsistency. This paper provides a comprehensive and nuanced review that synthesizes and clarifies our current knowledge on the determinants of INV performance, provides further discussion with deeper insights from both theoretical and methodological aspects, and points out some directions for future research.

INTERNATIONAL NEW VENTURE, BORN GLOBAL E GLOBAL STARTUP: ANÁLISE DE PRODUÇÕES CIENTÍFICAS SOBRE OS BRICS

O estudo de empresas, cujo processo de internacionalização ocorre de forma acelerada e imediatamente, ou em curto espaço de tempo, após a sua fundação, é crescente, com destaque para o recente aumento de empresas provenientes de países emergentes. A relevância econômica, social e política desses países, alinhada à crescente atenção de pesquisadores nas últimas décadas, levanta a pertinência do tema. Logo, o presente artigo tem como objetivo analisar a produção científica existente sobre born globals originárias de países emergentes, com enfoque nos países que compõem os BRICS (Brasil, Rússia, Índia, China e África do Sul). Trata-se de um estudo bibliográfico que se baseou em produções científicas da área, levantadas na base de dados do EBSCO e anais de eventos da Associação Nacional de Pós-graduação e Pesquisa em Administração (ANPAD). As análises apontam para a necessidade de aprofundamento teórico e empírico para o maior entendimento do fenômeno born global nos países emergentes.

It’s Not (Only) the International New Venture But (Also) the Micromultinational, Daftie!

This chapter advances the argument that, together with the international new venture (INV; or, born global (BG) firm), the unit of analysis in international business (IB) strategy should also be the micromultinational enterprise (mMNE). Based on the IB strategy and international entrepreneurship (IE) literatures, the chapter posits that the mMNE is a salient international entrepreneurial firm that has been neglected from most empirical work. The argument is built on an IE literature search and subsequent conceptualization around the dimensions of international entrepreneurial orientation (IEO). It is posited that risk attitude manifested in hefty resource mode commitments (contractual joint ventures and wholly owned subsidiaries) forms a key entrepreneurial dimension that should be a major focus of empirical analysis beyond innovativeness and proactiveness. The main contribution of this chapter is that it delineates the dimensions and manifestations of IEO and advances research in this area. The aim is to persuade the reader that the mMNE should be a focal firm of interest in the IB strategy and entrepreneurship arenas.

Intellectual structure of international new venture research

Purpose This paper aims to identify the most influential papers/authors, publication outlets and theoretical and empirical research topics of the international new venture (INV) literature. Design/methodology/approach The authors examine the intellectual structure of the INV literature using bibliometric citation and co-citation analysis. The authors focus on the 100 most cited papers in this research stream published between 1994 and 2015. In the post-hoc reading, they supplement their main bibliometric techniques with the content analysis method to shed light on some issues. Findings The authors find that the literature has grown significantly over the past two decades, increasing its relevancy in the academic discourse. The findings show the interdisciplinary nature of the INV literature, where we can find different research topics: Definition of INVs, measurements of “newness” and “degree of internationalization” and the characteristics of international entrepreneurs; time dimension in terms of speed of internationalization; international versus domestic new ventures; and the relationships between firm-specific advantages, international strategy and INV performance. Originality/value The authors identify the most influential studies and authors in the INV discipline and show its evolution from the very start to the present. They present the key topics in the literature and highlight the theoretical debates and the inconsistencies between theoretical conceptualization and measurements in the empirical work. The authors offer suggestions for promising future research directions and identify the major conceptual framework on which future research can be constructed. Overall, this study contributes to enhance the understanding of the INV phenomenon and provides useful new insights.

Gradual Internationalization vs Born-Global/International new venture models

Purpose During the last two decades, studies on the theoretical models in the area of international business (IB), such as gradual internationalization and the born-global firms, have gained the attention of researchers. The purpose of this paper is to critically review the studies on the process of internationalization (Gradual Internationalization vs Born-Global/International new venture models) to identify the research gaps in this area and to prepare a future research agenda. Design/methodology/approach Systematic literature review method was employed for this review. The authors highlight the findings from prior studies, compare and contrast salient characteristics and features, based on the articles published in journals with an impact factor score of at least 1.0, and provide directions for research. Findings The authors find that there are several areas that were under-explored in prior research. There is a great potential for theoretical extension and theory development in this field as it covers the tenets of four subjects: IB, marketing, strategic management and entrepreneurship. Originality/value There is no comprehensive/integrated review exploring the methods/variables and constructs used in prior studies integrating gradual internationalization/born-global models based on all the articles published in well-regarded academic journals. This review seeks to provide deeper insights, which help us to contribute toward the development of this research field.

Dynamic networks in early international agrobusiness

Resumen La presente investigación se orienta a comprender los beneficios que generan las redes según su origen en el proceso de internacionalización acelerado de los emprendimientos. Se tomó como referencia el surgimiento de Born Global, International New Venture (INV) y el enfoque de Networking. Se aplicó un método inductivo e interpretativo mediante la técnica de entrevistas en profundidad, triangulada con información pública disponible. Se seleccionó dos empresas con orientación a los mercados internacionales, desde sus primeros años de creación. Se analizaron los transcripciones mediante matrices, que se interrelacionaron con los constructos identificados en los entrevistados. El análisis permitió la elaboración de una cronología de los casos para luego identificar a las redes por origen, beneficios y estrategias que se relacionan con el modelo de internacionalización acelerado. Los resultados mostraron una tipología diversa de redes por origen: familiares, experiencia de trabajo previa, académicas (pre-grado y post-grado), eventos, institucionales (públicos y privados) y socios, que promueven el proceso de internacionalización acelerado con: contactos, soporte emocional, conocimiento (lecciones, experiencias, entre otros), recursos (monetario y no monetario), confirmación de equipos y contactos (más redes), en los factores del modelo de Born Global y International New Venture. La investigación concluye que los productos con baja demanda local y con nichos de mercado internacionales son un contexto adecuado para el surgimiento de Born Global o International New Venture, y que las redes en la etapa de pre - fundación orientan la estrategia de internacionalización, y estas a su vez guían el crecimiento y evolución de las redes en las etapas del proceso emprendedor.

Dinámica de redes en agronegocios de rápida internacionalización

Resumen La presente investigación se orienta a comprender los beneficios que generan las redes según su origen en el proceso de internacionalización acelerado de los emprendimientos. Se tomó como referencia el surgimiento de Born Global, International New Venture (INV) y el enfoque de Networking. Se aplicó un método inductivo e interpretativo mediante la técnica de entrevistas en profundidad, triangulada con información pública disponible. Se seleccionó dos empresas con orientación a los mercados internacionales, desde sus primeros años de creación. Se analizaron los transcripciones mediante matrices, que se interrelacionaron con los constructos identificados en los entrevistados. El análisis permitió la elaboración de una cronología de los casos para luego identificar a las redes por origen, beneficios y estrategias que se relacionan con el modelo de internacionalización acelerado. Los resultados mostraron una tipología diversa de redes por origen: familiares, experiencia de trabajo previa, académicas (pre-grado y post-grado), eventos, institucionales (públicos y privados) y socios, que promueven el proceso de internacionalización acelerado con: contactos, soporte emocional, conocimiento (lecciones, experiencias, entre otros), recursos (monetario y no monetario), confirmación de equipos y contactos (más redes), en los factores del modelo de Born Global y International New Venture. La investigación concluye que los productos con baja demanda local y con nichos de mercado internacionales son un contexto adecuado para el surgimiento de Born Global o International New Venture, y que las redes en la etapa de pre - fundación orientan la estrategia de internacionalización, y estas a su vez guían el crecimiento y evolución de las redes en las etapas del proceso emprendedor.