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The purpose of this paper is to investigate how ventures manage the negative returns associated with higher levels of internationalization. Many new ventures are internationalizing to fully exploit new innovations and/or gain access to larger markets. Yet at some point the rising costs associated with internationalization outweigh any benefits, resulting in an inverted U-shaped relationship between internationalization and performance.

New ventures are theorized to better manage high levels of internationalization by limiting exposure to other sources of risk. This can be achieved by leveraging greater size and/or limiting simultaneous diversification efforts on product innovation. To test the hypotheses, a regression using Heckman selection was run using a sample of 210 US-based, publicly held ventures in high-technology industries.

The results confirm that when higher levels of internationalization are coupled with either a low emphasis on product innovation or larger size, the negative returns are mitigated and actually become positive.

A key implication lies in recognizing the role of risk management for internationalizing ventures. Future research could benefit by testing for generalizability in other countries as well as among privately held ventures.

To manage the trade-offs associated at higher levels of internationalization, ventures need to maintain a low emphasis on product innovation or meet a threshold in terms of size.

The value of this research lies in better understanding how ventures are able to overcome rising costs at higher levels of internationalization.

While extant entry theory has long prescribed a niche approach for new ventures, a preponderance of empirical research has found that broad strategies may be the key to new venture success. This study examines the difference between entry theory and empirical evidence by considering the moderating impact of initial financial resources on the effectiveness of venture strategy. Examining new, independent firms at the point of inception, we find that initial financial resources moderate the relationship between strategic breadth and performance, implying that the returns to a broad initial strategy increase with the level of initial capital. Contrary to popular niche prescriptions for new ventures, we did not find support for the belief that firms with low initial financial resources should pursue niche strategies and suggest that it may be time to re-examine theory on the nature of the relationship between entry strategies and performance.

This chapter complements the one that appeared as “History of the AIB Fellows: 1975–2008” in Volume 14 of this series (International Business Scholarship: AIB Fellows on the First 50 Years and Beyond, Jean J. Boddewyn, Editor). It traces what happened under the deanship of Alan Rugman (2011–2014) who took many initiatives reported here while his death in July 2014 generated trenchant, funny, and loving comments from more than half of the AIB Fellows. The lives and contributions of many other major international business scholars who passed away from 2008 to 2014 are also evoked here: Endel Kolde, Lee Nehrt, Howard Perlmutter, Stefan Robock, John Ryans, Vern Terpstra, and Daniel Van Den Bulcke.

This study aims to explore the entrepreneurial marketing (EM) behaviour of Swedish born globals entering the Chinese market through their international networks. Drawing from the network theory of small firm internationalisation, this study is positioned in the domain of EM, and thus captures the relevance of EM behaviour to explain how born globals internationalise through their networks.

A qualitative case study approach of two Swedish born global companies active in the Chinese market is used. The network theory helps analyse the data in the three phases of firm internationalisation processes.

The study shows the importance of networks for the enactment of EM for born globals. The study traces the evolution of network development in the market entry process of born globals and highlights the importance of aligning network leverage with contextual factors for market performance.

The generalisation of the findings is limited due to the exploratory nature of the study and the size of the research sample.

Management of different types of networks is essential in the entry process and further growth of born globals in the Chinese market. In addition, born globals operating in psychically distant and complex institutionally contexts can especially gain support from intermediary networks.

This study extends knowledge of international entrepreneurship by demonstrating that born global managers can enact EM behaviour by leveraging networks to gain rapid entry into the Chinese market. It further highlights the role of firms’ networks in the EM activities in their internationalisation. The conceptual underpinnings of EM and network theory provide greater understanding of how born globals enter and grow their psychically distant markets.

Social enterprises pursue growth through business model innovation, and acquiring legitimacy is critical to ensuring such innovation. The purpose of this paper is to examine how business model innovation and legitimacy affect the performance of new social enterprises during different development stages.

This paper uses the hierarchical regression analysis and fuzzy-set qualitative comparative analysis (fsQCA) to examine social enterprise performance and constructs and verifies a moderated mediation effect of business model innovation, based on a survey of 183 new social enterprises in China.

This paper finds that business model innovation has a positive effect on social enterprise performance and an organization's legitimacy, acting as the partial mediator between them. The mediating effect of legitimacy is more positive when social enterprises are in the early growth stage. A more detailed analysis of fsQCA explores the necessary and sufficient conditions for the growth of social enterprise performance across different stages and reveals five configurations that improve the performance of social enterprises.

This study explores the role of business model innovation and legitimacy in social enterprise growth and provides empirical evidence about the causal configuration of high-performing social enterprises.

This research clarifies two antecedents of social enterprise performance and proposes a more inclusive framework that addresses the factor of dynamic development stages. This paper deepens the understanding of social enterprise performance in China.

In this chapter, we embrace the recent phenomenon of early internationalizing firms with the goal of understanding these firms in light of decades of research on multinational firms, which has long stressed liabilities of foreignness. It is often implicitly assumed that the only way to reduce liabilities of foreignness is by doing business in foreign markets and learning about the local business environment. However, in this chapter, we focus on several distinctive antecedent firm characteristics that have been shown to facilitate early international expansion by firms, but which are not commonly considered in the international business literature. We perform a systematic review of the literature on early internationalizing firms (following David & Han, 2004), based on the seminal work of Oviatt and McDougall (1994) to guide our analysis of early internationalizing firms and to identify important ways in which these firms differ from multinational firms. We argue that long-standing arguments about the impact of liabilities of foreignness on firm foreign expansion apply to newly internationalizing firms, but that these liabilities are reduced by the experiences and knowledge of the founders and top managers in these firms acquired prior to the inception of these firms.

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.

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.

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.

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.

International entrepreneurship (IE) has received a considerable amount of attention in the recent decades as a result of globalization enabling access to new international markets and business opportunities. Despite the growing increase in academic publications, IE still faces certain inconsistencies, with doubts remaining as regards its boundaries and the thematic groups making up the field. The purpose of this article is to systematically analyse the IE, mapping the intellectual territory and the evolution of the field.

Indexed to Web of Science( WoS) database until 2021, from 52 journals, 130 articles were selected, applying content analyses techniques to identify the main research lines.

The results reveal that IE presents four conceptual themes/clusters: (1) international business networks and opportunities; (2) institutional environments; (3) the characteristics and motivations of entrepreneurs; and (4) internationalisation drivers and processes. Extant analysis show that IE has progressed immensely, concentrating a good diversity of subtopics and research trends. An integrative framework bringing together 27 years of publications and 67 future research lines, detailed by cluster, were also presented in this study to improve understanding and guide future studies.

This review makes a broad contribution to the IE literature, assisting in consolidating the academic field, expanding and complementing the results of previous theoretical–conceptual studies. We reflect and individually discuss the state of the art of the four streams that characterize IE to identify key themes, points of convergence and advance new subfields.

The purpose of this paper is to examine how entrepreneurial orientation (EO) is manifested in the context of born global firms. Specifically, the authors investigate the extent to which the EO dimensions of the influential Miller/Covin & Slevin scale are demonstrated in born globals. In addition, following calls in the literature, some as-yet unrecognised dimensions of EO in born globals are examined.

The authors use a qualitative research approach by conducting semi-structured, in-depth interviews with eight born global firms from New Zealand and Australia.

The authors find that the EO dimensions of proactiveness and innovativeness are strongly prevalent in these firms. In contrast to the extant literature, the results also indicate that these born global firms generally display a relatively low level of risk-taking. The authors find strong empirical support for two additional emerging dimensions of EO: passion and perseverance.

The study provides two key contributions to the area of international entrepreneurship by investigating how EO is prevalent in the context of born globals and by proposing the new dimensions of passion and perseverance.

The purpose of this paper is to explore how different country-specific institutional healthcare settings affect an international new venture’s (INV’s) selling strategies and internationalization process when commercializing a medical technology innovation.

The study is based on a longitudinal in-depth case study approach with a comparative healthcare analysis in Sweden, UK, Germany and the USA.

An institutional framework helps elucidate the regulative, normative and cultural-cognitive dimensions in different healthcare settings. National markets differ when operating in a healthcare setting and thus affect both sales patterns and the internationalization process. In this study, three different sales patterns emerged from the countries’ and even regions’ distinctive institutional differences. Although the actual internationalization process starts from the INV’s inception, the subsequent internationalization process was both slow and focused due to institutional diversity and complexity.

Every nation has its own unique healthcare structure, indicating the importance of choosing markets that facilitate a swift uptake of a specific medical technology innovation. Commercializing a medical technology innovation in different country-specific healthcare settings is a lengthy, complex and costly process, especially if new behaviors and routines need to be created.

The paper contributes to the international entrepreneurship-marketing interface by developing an analytical framework for understanding country differences in relation to regulative, normative and culture-cognitive dimensions and by advancing six propositions related to the role of institutional healthcare settings and their impact on INVs’ sales patterns and internationalization processes.