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Purpose This paper aims to examine the impact of human and social capital of CEOs of internationally active small- and medium-sized enterprises (SMEs) in the Czech Republic on their firms’ approach to technological innovation. Design/methodology/approach The study sample was drawn from data collected from the population of Czech manufacturing firms. The final sample included 153 SMEs that met the criteria for inclusion in the study. The authors employed robust regression analysis to test their specific hypotheses. Findings This study found that human capital (in the form of CEOs’ professional background and foreign customer knowledge) and social capital (conceptualized as embeddedness in the international markets) of CEOs in the Czech Republic impacted their firms’ approach to technological innovation. Specifically, firms headed by CEOs with professional background in output functions (R&D and marketing) are more likely to invest in technological innovation. The same was found true for firms led by CEOs who possessed a strong knowledge of international customers and were socially embedded in international markets. Originality/value This study makes a twofold contribution to the extant literature. First, it develops and tests the theoretical link between human and social capital and technological innovation among internationally active firms. Second, it highlights factors that positively influence technological innovation in the context of a small Central European economy, a setting that has been generally viewed as unfavorable to such innovation.

Research SummaryWhat explains born global firms who internationalize very early through exports, when theories of internationalization recommend they focus on domestic markets first? While prior research suggests a number of factors that enable exporting by new ventures, empirical tests of these theories have not evaluated if these factors uniquely explain new venture exporting. We propose and empirically test hypotheses that exporting by young (relative to established) emerging‐economy firms increases when they tap into the drivers of modern globalization (Internet technologies, global talent flows) and overcome home‐country institutional constraints (government inefficiencies, location), all of which have bigger impacts on exporting by young firms than established ones. Understanding these unique drivers of born global emerging‐economy firms is critical for reconciling this phenomenon with traditional theories of firm internationalization.Managerial SummaryOur research finds that exporting by young firms are enabled to a greater extent (than established firms) when they use Internet technologies and tap into mobile talent (such as cross‐national entrepreneurs and leaders with international experience), which helps to overcome key constraints in tapping into international markets. We also found that young firms overcome home‐country institutional and infrastructure deficiencies in emerging economies, specifically, by receiving efficient government services and strategically locating in well‐resourced centers such as capital cities, which helps them more in exporting as compared to established firms. Our findings help to explain the modern phenomenon of “born global” firms, who have broken away from the traditional path of focusing first on domestic markets and then engaging in incremental international expansion.A video abstract is available at https://youtu.be/QPIR0CRazgw.

Terrorism, pandemic diseases, and other threatening events have recently heightened the sense of personal risk for tourists considering international travel. This article addresses the paucity of research assessing perceptions of risk both before and during travel to risky destinations. Tourists on two nature tours in Mexico were interviewed and observed while engaged in the travel. Many types of specific perceived risks were uncovered, including insect-borne disease, traffic accidents, financial losses, and unattained goals. Some correlates of perceived risk were tour company reputation, stage of family life cycle, age, and motivation. Based on the types of perceived risk and the factors, five propositions are discussed. One unexpected proposition addresses the role of age and states that as the perceived years of physical ability to travel decreases, the tolerance for safety risk increases. Another proposes that eco-tourists with intense, destination-specific motivations are more tolerant of travel risk than those with casual and/or social motivations. The article concludes with suggestions for tour industry managers and directions for future research.

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