Performance effects of international expansion processes: The moderating role of top management team experiences |
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Affiliation: | 1. Center for International Business, University of Leeds, LS2 9JT, UK;2. School of Business, Management and Economics, University of Sussex, BN1 9SL, UK |
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Abstract: | This study investigates how experience of top management teams (TMTs) influences the performance effect of added cultural distance in international expansion processes. Taking a dynamic perspective, we focus on internationalization processes and the cultural distance that is added in expansion periods. We argue that a TMT's experience can help in coping with the complexities of added cultural distance. Based on information-processing theory, we hypothesize and find that international experience and shared team-specific experience of a TMT positively moderate the relationship between added cultural distance and firm profitability. We test our hypotheses based on cross-sectional time-series data on 3656 expansion steps of 80 German firms during the 1985–2007 period. |
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