Where Angels Fear to Tread: Internationalization of Emerging Country SMEs |
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Authors: | Sonia Ketkar Zoltan J Acs |
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Institution: | 1. School of Public Policy, George Mason University, 3351 Fairfax Drive, MS 3B1, Arlington, VA, 22201, USA
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Abstract: | Based on institutional theory and risk perspectives, this study examines how the entrepreneurial orientation of firms as determined by national cultural factors is related to the internationalization of small- and medium-sized enterprises (SMEs) from emerging and developing countries. We also suggest that institutional improvements can have a moderating effect on the relationship between culture and internationalization. We develop a unique measure of internationalization and test it on a sample of 7,212 SMEs from 36 developing countries using a multilevel linear hierarchical model that allows us to examine both firm- and country-level effects. We find that developed institutions support the internationalization of SMEs from more masculine and individualistic cultures. |
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