Pre-Liberalization Foundations and the FDI-Based Internationalization of SMEs from Emerging Markets
研究了新兴市场中小企业在市场自由化前创立是否降低其通过外商直接投资进行国际化的可能性，并考察企业规模和所有权分散度的调节作用。
Abstract Research on the internationalization of small and medium enterprises based in emerging markets (EM-SMEs) is gaining momentum, yet, less is known about the specific factors that deter EM-SMEs’ from internationalizing via foreign direct investment (FDI). In this paper, using institutional and organizational imprinting perspectives, we argue that EM-SMEs founded in the era prior to market liberalization are less likely to internationalize via FDI than those founded during or after market liberalization. We also argue that this effect is moderated by EM-SMEs’ size and ownership dispersion. Our data used to test our hypotheses is based on 2277 SMEs from 14 emerging markets. Overall, we contribute to an improved understanding of the factors that determine the FDI-based internationalization of SMEs from emerging markets.