Process and intensity of internationalization of IT firms – Evidence from India |
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| Institution: | 1. Graduate School of Business Administration, University of Puerto Rico, San Juan, PR, USA;2. University of Washington, Foster School of Business, Seattle, USA;3. Army Institute of Management & Technology, M-1, P-5, Greater Noida, India;1. Goodman School Business, Brock University, St. Catharines, ON L2S3A1, Canada;2. Carlson School of Management, University of Minnesota, Minneapolis, MN 55455, United States;1. University of Seville (Spain), Avda Ramón y Cajal, 1, 41018 Seville, Spain;2. EOI Business School (Spain), Universidad Pablo de Olavide, Ctra de Utrera, Km 1, 41013 Seville, Spain;3. 3-365 Carlson School of Management, University of Minnesota, Minneapolis, MN 55455, United States;1. Department of Marketing, International Business & Strategy, Faculty of Business, Brock University, St. Catharines, Ontario, Canada L2S 3A1;2. Zhejiang University School of Management, 388 Yuhangtang Road, Hangzhou, Zhejiang Province 310058, PR China;1. School of Business and Law, University of Agder, Gimlemoen 19, 4631 Kristiansand, Norway;2. School of Business Administration, College of Management Academic Studies, 7 Yizhak Rabin Blvd., 75190 Rishon Lezion, Israel;3. College of Business, Illinois State University, 345 SFHB, Normal, IL 61790-5580, USA;4. Birmingham Business School, The University of Birmingham, University House, Edgbaston Park Road, Birmingham B15 2TY, UK |
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| Abstract: | This paper provides insights and evidence related to the process and intensity of internationalization of firms in the Information Technology (IT) sector, which is the driving force of high economic growth in the Indian sub-continent during the last two decades. Research objectives were set as (i) to examine the existence of born global firms in the IT sector, (ii) to identify the process of internationalization adopted by firms in the IT industry, (iii) to measure the intensity of internationalization of IT firms. The paper is based on data collected from annual financial reports of firms listed in the CNX IT Index of National Stock Exchange of India. Two clusters were extracted using hierarchical clustering method followed by k-means clustering to analyze the characteristics of the variables. We find that the firms in both clusters are true global firms with 66 and 85% of their income from foreign markets with a very high level of international intensity. Though the findings provide some evidence for the gradual internationalization of Indian IT firms; the empirical results indicate that firm age has no impact on internationalization. The results from our study also show that firms, especially in certain industries such as IT, do have access to information that reduces the risk aversion. |
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| Keywords: | Born-global Internationalization Process and intensity Uppsala theory |
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