“…Following the literature, we initially selected four determinants related to the external environment: development level of the target country (Aulakh, Kotabe, & Teegen, 2000;Christensen, Rocha, & Gertner, 1987), psychic distance and business distance (Evans & Mavondo, 2002;O'Grady & Lane, 1996), comparative advantages (Itaki, 1991;Porter, 1990), and barriers in the host country (Madsen, 1989). Another four determinants related to the firm were also initially included: firm size (Katsikeas, Piercy, & Ioannidis, 1996;Reid, 1981); degree of internationalization (Kogut, 1985;Porter, 1990), managers' propensity for risk (Axinn, 1988;Gomez-Mejia, 1988), and status of the exporting activity (Axinn, Noordewier, & Sinkula, 1996;Das, 1994). Also, four determinants related to strategy were considered: systematization of export planning (Bijmolt & Zwart, 1994;Shoham, 1996), degree of differentiation of the export venture's offer (Knight, Madsen, & Servais, 2004;Madsen, 1989), degree of adaptation of product mix (Cavusgil & Zou, 1994;Shoham, 1999), and price competiveness (Cavusgil & Zou, 1994;Das, 1994;Madsen, 1989).…”