On the foundation and early development of domestic and international new ventures

Rasmussen, Erik Stavnsager; Madsen, Tage Koed; Servais, Per

doi:10.1007/s10997-010-9162-1

Cited by 15 publications

(15 citation statements)

References 30 publications

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“…However, previous results remain on a rather descriptive level (Rasmussen et al, 2010) and do not provide an authoritative empirical evidence for this trend.…”

Section: Conceptual Framework and Hypotheses Developmentmentioning

confidence: 79%

Prevalence and longitudinal trends of early internationalisation patterns among Canadian SMEs

Sui

Baum

2012

International Marketing Review

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Purpose: Recently, studies call for a more nuanced perspective on different internationalization patterns pursued by early internationalizers. These studies argue that most Born Global firms turn out to be Born Regional and that the proportion of true Born Global firms would be overestimated. Moreover, literature claims that the proportion of Born Global firms increases over time due to macroeconomic trends. We investigate these assumptions by providing a dynamic perspective on the prevalence of different types of internationalization patterns among Canadian small and medium-sized exporters (SMEs). Design/methodology/approach: To empirically examine the ideas above, we constructed a unique large-scale longitudinal (1997)(1998)(1999)(2000)(2001)(2002)(2003)(2004) dataset. A multinomial logit model is employed to estimate a firm's predicted probability, ceteris paribus, of choosing different internationalization patterns: Born Global, Born Regional, and Gradual Internationalization. Findings: We find that Born Global firms indeed account for a smaller proportion than Born Regional firms (16% vs. 27%). However, we find evidence that Born Globals and Born Regionals are increasingly established over time and that macroeconomic factors seem to account for this development at least partially. Originality/valueCombining a rigorous empirical analysis with a unique large scale longitudinal dataset, we address two fundamental research questions in the international entrepreneurship (IE) literature a) which internationalization pattern prevails and b) if the Born Global pattern is increasingly established over time. We therewith theoretically contribute by comparing the predictive value of different internationalization frameworks international new venture (INV) framework, stage-models and regionalization hypothesis), toward which there is considerable current debate.

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“…However, previous results remain on a rather descriptive level (Rasmussen et al, 2010) and do not provide an authoritative empirical evidence for this trend.…”

Section: Conceptual Framework and Hypotheses Developmentmentioning

confidence: 79%

Prevalence and longitudinal trends of early internationalisation patterns among Canadian SMEs

Sui

Baum

2012

International Marketing Review

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“…This is based on the fact that demand for wave and tidal energy solutions is assumed to be very global in nature, but also on the assumption that the firms in this emerging industry have a huge need for capital as well as specialized competencies from partners which may be difficult to find in local or national environments. Based on the case studies, we will be able to describe and analyse these issues more in detail and contribute with regard to what Løvdal and Neumann (2011) and Rasmussen et al (2012) describe as an understudied part of the INV literature.…”

Section: Technology Development and Technology Partnershipsmentioning

confidence: 99%

“…Existing definitions do, however, typically focus on firms that already produce and sell their product or service. Rasmussen, Madsen & Servais (2012) state that there has been limited attention to the sourcing side of INVs/BGs and that few studies on the pre-sale phase have been published (Rasmussen, Madsen, & Servais, 2012).The lack of focus on the early phase before sales activities is surprising since authors generally agree that a venture's future internationalization activities and processes are heavily influenced by decisions made close to and before inception (Aspelund et al, 2007;Boter & Holmquist, 1996;Madsen & Servais, 1997;Sapienza, Autio, George, & Zahra, 2006). …”

Section: Introductionmentioning

confidence: 99%

New ventures in an emerging industry: access to and use of international resources

Bjørgum

Moen

Madsen

2013

IJESB

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This paper addresses international activities of young companies in the emerging marine energy industry. We build our study on interviews in eight companies combined with scientific reports and publications. The main challenges for the companies are related to financing and technology development. Our findings show that the companies may be divided in three groups: a) three technology and funding driven international ventures, b) one market driven international venture and c) four companies with limited international involvement. The short timespan between establishment and first major international activity for acquiring funding or technology competence is a distinct characteristic of the firms in the first two groups. The last group with no or limited international activity reveals an alternative development path. Our study gives insight in significant firm level differences with regard to international involvement in the pre-commercial phase of development and discusses the implications for researchers, managers and public policy.

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“…Most studies are aimed at identifying the reasons at the basis of the emergence of the INVs, such as the role of the founder/ entrepreneur and the management team (Bloodgood et al 1996;Carpenter et al 2003;Kundu and Katz 2003;Spence et al 2011;Rasmussen et al 2012), and the importance of knowledge-based resources and capabilities (Oviatt and McDougall 1995;Sharma and Blomstermo 2003;Coviello 2006;Freeman et al 2012;Khalid and Larimo 2012;Fernhaber 2013). Fewer studies have been conducted with the specific purpose to analyze the determinants of INVs' performance (McDougall and Oviatt 1996;Autio et al 2000;Zahra et al 2000;Sleuwaegen and Onkelinx 2014;Zhou and Wu 2014).…”

Section: Introductionmentioning

confidence: 99%

The Effect of Global Orientation on the Performance of International New Ventures: Evidence from Italy

Cerrato

Piva

2015

Manag Int Rev

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The aim of this paper is to investigate the relationship between global versus regional orientation and the performance of international new ventures (INVs). Building on internalization theory and organizational learning literature, we develop two competing hypotheses on the performance effect of geographic scope on INV performance. We test these hypotheses on a sample of Italian manufacturing INVs. The study extends the regionalization/globalization debate to the context of INVs. Our findings show that INVs mainly operate on a regional, rather than global basis. However, when they succeed in achieving a global reach, the effect on profitability is positive and significant, supporting the hypothesis that global orientation improves firm performance.

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On the foundation and early development of domestic and international new ventures

Cited by 15 publications

References 30 publications

Prevalence and longitudinal trends of early internationalisation patterns among Canadian SMEs

Prevalence and longitudinal trends of early internationalisation patterns among Canadian SMEs

New ventures in an emerging industry: access to and use of international resources

The Effect of Global Orientation on the Performance of International New Ventures: Evidence from Italy

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