Friends with money? Owner’s financial network and new venture internationalization in a transition economy
研究转型经济中创业企业国内金融网络多样性对国际化的促进作用，发现该作用随企业规模增大而增强，基于保加利亚新创企业调查数据。
This article explores the role of the diversity of the domestic financial networks for the internationalization of entrepreneurial ventures in transition economies. Building on network theories of social exchange and resource dependency, it hypothesizes that the diversity of the entrepreneurial venture’s financial network will have a positive effect on internationalization and this effect will be amplified by the diversity of the entrepreneur’s personal network and the size of the new venture. A survey data collection methodology is used and three hypotheses are tested on a sample of new and small ventures in Bulgaria. Regression results show that the diversity of the domestic financial network has a positive effect on internationalization, and that its role increases with the size of the new venture. Implications for the theory of small firm internationalization, managerial practice and public policy are discussed.