In good company: The role of personal and inter-firm networks for new-venture internationalization in a transition economy |
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Authors: | Tatiana S. Manolova Ivan M. Manev Bojidar S. Gyoshev |
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Affiliation: | 1. INCAE Business School, La Garita Alajuela, Costa Rica;2. 14 Toussaint Walk, London SE16 4RS;3. School of Business, Tung Wah College, Mongkok, Hong Kong |
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Abstract: | Although personal and inter-firm networks are critical for the survival and growth of entrepreneurial ventures in transition economies, their role in new-venture internationalization has been understudied. Exploring the internationalization of entrepreneurial ventures (n = 623) in Bulgaria, we find that domestic personal networks have a positive effect on internationalization. Firm age negatively moderates the effect of inter-firm networks: the earlier the new venture engages in inter-firm collaboration, the higher the degree of its internationalization. Internationalization is positively associated with new venture size and varies by industry. Implications for managerial practice and public policy are discussed. |
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