Universally-enabling and context-binding resources in new venture internationalization: Evidence from venture capital backed start-ups in an emerging market |
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| Institution: | 1. Poznań University of Economics and Business, Al. Niepodleg?o?ci 10, 61-875, Poznań, Poland;2. Vistula University, Ul. Stok?osy 3, 02-787, Warszawa, Poland;1. Hamburg School of Business Administration, Willy-Brandt-Straße 75, 20459, Hamburg, Germany;2. Alliance Manchester Business School, Booth Street West, M156PB, Manchester, UK;3. School of Business, Society and Engineering, Mälardalen University, Sweden & Department of Strategy and Entrepreneurship, BI Norwegian Business School, Norway;1. Texas A&M University, Dept. of Management, TAMU 4221, College Station, TX, 77843-4221, United States;2. Penn State University - Great Valley, School of Graduate Professional Studies, Malvern, PA 19355, United States;3. The University Of Texas - San Antonio, One Utsa Circle, San Antonio, TX 78249, United States;4. Penn State University – Berks, Reading, PA 19610, United States;1. Arison School of Business, The Interdisciplinary Center, Herzliya, Israel;2. Alliance Manchester Business School, The University of Manchester, Manchester, United Kingdom;3. Centre for International Business, Leeds University Business School, University of Leeds, Leeds, United Kingdom;1. Chair of Strategic and International Management, Technical University of Munich, Arcisstraße 21, 80333, Munich, Germany;2. WHU - Otto Beisheim School of Management, Burgplatz 2, 56179, Vallendar, Germany |
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| Abstract: | Integrating institutional and effectuation theories, we examine the relationship between entrepreneurs’ means and internationalization in an emerging market. Results indicate that some means, such as technical expertise or business network membership, transform into valuable internationalization resources despite difficult institutional conditions. Others, however, such as industry or international experience, are best deployed locally. Findings also indicate that means such as entrepreneurial experience and number of founders act as catalysts of internationalization, allowing for other means to transform into internationalization resources. We extend effectuation theory by showing how different means transform into internationalization resources and contribute to research at the intersection of institutional theory and international entrepreneurship by expanding our understanding of universally-enabling and context-binding internationalization resources. In so doing, we identify a boundary condition to international entrepreneurship theories that emphasize the role of individual resources during venture internationalization by revealing a context in which certain traits exhibit nonstandard relationships with internationalization. |
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| Keywords: | Start-ups International new ventures Born-globals Internationalization Effectuation theory Institutional theory Venture capital |
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