“…Internationalisation is instrumental to a firm’s survival and growth along with the potential for a positive effect on economic development ( The World Bank, 2019 ). While internationalisation may contribute to the improved performance of a firm ( Lu and Beamish, 2006 ), a firm’s internationalisation activities comprise both progress and setbacks ( Clarke and Liesch, 2017 ; Kriz and Welch, 2018 ), in particular, facing frequently occurring challenges or failure in international markets ( Alexander and Korine, 2008 ), de-internationalisation ( Tang et al, 2021 ), and host country risk ( Tang and Buckley, 2020 ). Failure in international business refers to unexpected decreased involvement in international activities, divestment, and export withdrawal ( Nummela et al, 2016 ) and is considered a natural part of the process of the internationalisation of a firm as it comprises both progress and setbacks ( Clarke and Liesch, 2017 ; Kriz and Welch, 2018 ).…”