New venture adaptation in international markets: A goal orientation theory perspective |
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Institution: | 1. Loughborough University, School of Business and Economics, Loughborough LE11 3TU, United Kingdom;2. New Design University, Mariazeller Strasse 97a, 3100 St. Pölten, Austria;3. Asia University, 500, Lioufeng Road, Wufeng, Taichung 41354, Taiwan;4. University of Liechtenstein, Fürst-Franz-Josef-Strasse, 9490 Vaduz, Liechtenstein;5. École Supérieure du Commerce Extérieur, ESCE International Business School, 10 Rue Sextius Michel, 75015 Paris, France |
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Abstract: | This study uses goal orientation theory to investigate why managers of international new ventures make adaptations to markets served, entry modes used, and the organization. We use the case method to identify the international adaptation behaviours of six new ventures and managers’ explanations regarding those adaptations. We infer two different profiles of managerial goal orientation. The goal orientation associated with proving one’s competence is common across managers, but firms only pursue international adaptation if their managers also hold a learning goal orientation. In contrast, if managers have the goal orientation associated with avoiding failure, firm-level adaptation is not apparent. |
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Keywords: | International entrepreneurship Internationalization Adaptation Goal orientation theory International new venture |
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