The Speed and Extent of New Venture Internationalisation in the Emerging Economy Context

Kazlauskaitė, Rūta; Autio, Erkko; Šarapovas, Tadas; Abramavičius, Šarūnas; Gelbuda, Modestas

doi:10.15678/eber.2015.030204

Cited by 12 publications

(13 citation statements)

References 28 publications

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“…Social/personal ties stimulate internationalization; however, formal relations are not essential in an emerging market context. This result is in line with previous research studying the role of networks in emerging economies (Kazlauskaite et al , 2015). These results show the specificity of Lithuanian new ventures in comparison to the research carried out in developed economies as well as in some CEE emerging economies, such as Estonia (Vissak, 2007) and Poland (Nowinski and Rialp, 2013).…”

Section: Discussionsupporting

confidence: 93%

“…The entrepreneurs who initiated rapid internationalization had foreign apprenticeship, acquiring international experience and a high level of education while travelling or studying abroad; these were essential constructs for INV development. The results echo research carried out in developed countries; however, they contradict the results from other CEE transition economies (Nowinski and Rialp, 2013; Kazlauskaite et al , 2015) that suggest that entrepreneurs from emerging economies display a lack of international experience and business know-how. This discrepancy can be explained by rapid changes in the Lithuanian entrepreneurial environment in recent years; they determine possibilities for the entrepreneurs to take part in events (e.g.…”

Section: Discussioncontrasting

confidence: 50%

“…From a theoretical perspective, this study extends research on INVs from CEE emerging economies to include factors leading to early internationalization. The findings contribute to the INV literature by answering the call to extend empirical research to the context of CEE transition countries (Gelbuda et al , 2008) and to enablers of the internationalization of new ventures from the CEE region (Kazlauskaite et al , 2015). The author extended empirical studies in CEE emerging economies (Nowinski and Rialp, 2013; Vissak, 2007) by analysing the entrepreneurial, firm-related and contextual factors associated with the internationalization of new firms in Lithuania.…”

Section: Discussionmentioning

confidence: 75%

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Factors leading to early internationalization in emerging Central and Eastern European economies

Sekliuckienė

2017

EBR

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Purpose The purpose of this paper is to explore factors leading to the early internationalization of international new ventures (INVs) in Lithuania – a transition economy in Central and Eastern Europe (CEE). The determinants of early internationalization were grouped into three categories: entrepreneurial, firm-related and contextual determinants, and their impact on high-tech INVs that operate in emerging economies was investigated. Design/methodology/approach The research design is a case study approach. Case studies are presented of six Lithuanian entrepreneurial firms that demonstrated successful internationalization and rapidly expanded into foreign markets during the preceding year. Findings Region-specific theoretical propositions are provided for new ventures in CEE emerging economies. The results reveal that essential factors leading to the early internationalization of INVs operating in Lithuania, a transition economy, are entrepreneurial factors. Internationalization of INVs from CEE emerging economies is driven by push factors related to domestic market specifics; however, institutional factors do not seem to have a significant impact on INVs’ internationalization. Research limitations/implications The results of the analysis of the case studies are not generalizable to the entire population of INVs in Lithuania. However, the results are substantial considering the success of high-tech Lithuanian firms that started their international activities shortly after their inception. Future research can contribute to the literature by seeking to apply international new venture theory in the context of emerging economies with larger samples and a focus on distinct patterns of internationalization. Originality/value The findings contribute to the literature on international entrepreneurship by exploring early internationalization of INVs in the context of transition economies in CEE. This study’s contribution is based on theory building, especially in understanding the driving factors related to the early internationalization of new ventures founded by Lithuanian entrepreneurs. International entrepreneurship studies in the CEE, as well as Baltic countries, are limited, and this research contributes to filling this gap.

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Section: Discussionsupporting

confidence: 93%

Section: Discussioncontrasting

confidence: 50%

Section: Discussionmentioning

confidence: 75%

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Factors leading to early internationalization in emerging Central and Eastern European economies

Sekliuckienė

2017

EBR

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“…According to the network theory of internationalization, companies immersed in a network of relationships have a competitive advantage which allows them to enter foreign markets more easily (Johanson and Mattson 1985;1988;Gajowiak 2013). Similarly, in the resource-based vision, which constitutes one of the most commonly used theoretical frameworks in internationalization research (Peng 2001;Mohr and Batsakis 2014;Kazlauskaitė et al 2015;Sánchez et al 2015;Pigatto et al 2019), the companies' possession of specific strategic resources has effects on the internationalization and speed of internationalization (Mohr and Batsakis 2014). Based on the resource-based view, the human, social, and psychological capital of the entrepreneur can be considered valuable resources that are rare assets and difficult to imitate, and, therefore, a source of sustainable competitive advantage (Luthans et al 2004;Luthans et al 2007a).…”

Section: Obstacles Of the Academic Entrepreneurs To Aso International...mentioning

confidence: 99%

The impact of human, social, and psychological capital on academic spin-off internationalization

et al. 2022

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Academic spin-offs (ASOs) are companies with a strong international vocation for two main reasons: first, they market their products and services in global market niches to profit from their high investment in R&D, characteristic of the sectors in which ASOs operate; and second, as a consequence of the international training and experience and of the international networks that the founding academic entrepreneurs of these companies tend to enjoy, derived from their scientific activity. Despite this natural tendency to internationalize, ASOs and specifically the founding academic entrepreneurs of these companies present certain difficulties in accessing resources for internationalization and in achieving credibility in foreign markets due to their university origins. Based on the resource-based view (RBV), and network theory (NT), this work proposes that the human capital, the social capital, and the psychological capital of the academic entrepreneur could compensate for these obstacles, providing key resources for the internationalization of their companies. The results contribute to the RBV, NT, and academic entrepreneurship and internationalization literature since they show that human capital, in terms of the international experience and training of the academic entrepreneur, their networks of relationships with international academic agents, and their psychological capital, are all antecedents of the internationalization of ASOs. However, the networks of academic entrepreneur relationships with international market agents appear to be irrelevant in the process of international expansion of ASOs.

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“…Despite globalization, which enables venture capitalists to invest abroad relatively easily, scholars still consider venture capital to be a geographically-bound local market (Bruton et al, 2005). Currently, private equity capital quickly gains popularity among new ventures and instant exporters (Kazlauskaitė et al, 2015).…”

Section: Venture Capital As a Form Of Financingmentioning

confidence: 99%

Venture Capital and Exporting – Some Evidence from EU Countries

Bigos¹

2019

JMBA.CE

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The aim of this article is to present the results of the research on the export of venture capi tal backed firms in the European Union countries. Methodology: For the purpose of this article, the author created four linear regression models. He decided for export revenue to be a dependent variable. Then, the author verified the influence of four independent variables on export value. Findings: The research found that the turnover of venture capital backed firms positively influences their export value. Moreover, the costs of employees also play an important role in export value explanation. Nevertheless, the empirical study did not confirm any strong positive correlation of analyzed firms' export value with the number of employees and their share of shareholders' funds in operating income. Limitations: The analyzed period was limited only to 2016. Second, the study used only one dependent and four independent variables. Further research must include other variables, especially moderating ones, such as entrepreneurship ratio or availability of external financing forms. Third, the regression models were based on data retrieved from Orbis Database and can induce uncertainty regarding its credibility. Originality: At present, there are still only few research studies that explore the export of venture capital backed firms.

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The Speed and Extent of New Venture Internationalisation in the Emerging Economy Context

Cited by 12 publications

References 28 publications

Factors leading to early internationalization in emerging Central and Eastern European economies

Factors leading to early internationalization in emerging Central and Eastern European economies

The impact of human, social, and psychological capital on academic spin-off internationalization

Venture Capital and Exporting – Some Evidence from EU Countries

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