The influence of human and relational capital on the rapid internationalization of firms

Abstract

Purpose-The purpose of this paper is to compare the influence of human and relational capital of entrepreneurs from two economically different contexts on the rapid internationalization of their firms. Design/methodology/approach-The study was developed using data collected from Global Entrepreneurship Monitor of Spain and Chile. Moreover, a logistic regression analysis is used to examine and compare the influence of some elements of human and relational capital of entrepreneurs on the likelihood that those can will rapidly internationalize their firms. Findings-The results revealed that the Chilean entrepreneurs seem to rely more on their formal education or experience to rapidly internationalize their firms. By contrast, Spanish entrepreneurs tend to complement their formal education with their relational capital in order to carry out international entrepreneurial activities. Research limitations/implications-The implications of this study are related to the role that public policies can play in promoting these kinds of entrepreneurial initiatives. Contribution/Value Added-This paper presents several contributions. First, it advances the understanding of entrepreneurial internationalization in emerging economic contexts. Second, it provides a comparative study on entrepreneurial internationalization, which is considered the "crux" of IE. Finally, this comparative study helps to understand the influence of different economic context on entrepreneurial internationalization.

Los emprendedores zombis: emprendimiento en etapa inicial que no crea empresa en el contexto latinoamericano

“…La muestra chilena incluye a 941 empresarios que tienen, en promedio, 43 años; el 62% son hombres. Además, el 85,6% de la muestra declaró que sus ventas internacionales no superan el 25% de las ventas totales y el 14,3% afirmó que más del 25% de sus clientes se encontraban fuera del país (Baier-Fuentes et al, 2018). Estos indicadores fueron sometidos a una prueba de correlación mediante el progra- ma Statistical Package for the Social Sciences (SPSS®), de la empresa IBM, que es una potente herramienta de tratamiento de datos y análisis estadístico.…”

“…Se puede apreciar en la Tabla 3 que el alcance del proyecto tiene una correlación negativa con los años operativos del emprendimiento en los años 2016 y 2017, esto se puede deber a que existe una influencia más débil de las relaciones interpersonales de los empresarios chilenos en la rápida internacionalización de sus empresas (Baier-Fuentes et al, 2018). Desde esta perspectiva, en Chile, los empresarios fortalecen su capital relacional en términos de cantidad y calidad para mejorar su competitividad más allá de los mercados nacionales, como sucedió en el año 2015 (correlación positiva entre estas variables).…”

“…Esto es el resultado de la consolidación de una serie de políticas públicas implementadas desde 1997 en respuesta a un consenso sociopolítico sobre el valor del espíritu empresarial para el desarrollo económico del país. Desde esta perspectiva, Chile se caracteriza por ser un país emprendedor, con una mayor tasa de actividad empresarial que España y otros países de la Organización para la Cooperación y el Desarrollo Económicos (OCDE) (Baier-Fuentes, Hormiga, Amorós y Urbano, 2018).…”

Why Do EEFs Invest in other Emerging Markets? Examining the Role of Familiarity with the Emerging Market Context and Interpersonal Networks

“…EEFs use different approaches to cope with economic and cultural barriers, making it imperative to understand the relationships between the familiarity with the context of the host emerging market, the interpersonal networks, and the cultural distance in the internationalization of these firms. The significant role that entrepreneurs and their networks play is highlighted by few past studies that clearly explain their strategy of rapid internationalization (Coviello, 2006;Zucchella et al, 2007;Kiss & Danis, 2008;Musteen et al, 2010;Robson et al, 2012;Baier-Fuentes et al 2018). The success of EEFs is also associated with human and relational capital because these intangible assets allow entrepreneurs to exploit entrepreneurial opportunities outside national boundaries (Baier-Fuentes et al 2018).…”

“…The significant role that entrepreneurs and their networks play is highlighted by few past studies that clearly explain their strategy of rapid internationalization (Coviello, 2006;Zucchella et al, 2007;Kiss & Danis, 2008;Musteen et al, 2010;Robson et al, 2012;Baier-Fuentes et al 2018). The success of EEFs is also associated with human and relational capital because these intangible assets allow entrepreneurs to exploit entrepreneurial opportunities outside national boundaries (Baier-Fuentes et al 2018). Human capital and relational capital have a significant impact on entrepreneurship in different ways that depend on the host country (Rugman et al, 2011).…”