Internationalisation as a human capital adaptation journey: The case of returnee entrepreneurs in China
研究中国海归创业者在海外学习工作后回国创业过程中，人力资本如何适应不同环境，发现回国后存在适应不良，但被国际创业机会所激励。
Many studies examine the internationalisation processes of migrant entrepreneurs, whether they are moving to a new country or returning to their home country. However, research on the adaptation of their human capital throughout this journey remains limited. To advance understanding in this area, we investigate returnee entrepreneurs (REs) and their human capital adaptation journey between China, as their country of origin, and OECD countries. Applying a liminality lens, we commence with the individual dimension when they travel abroad to acquire education and experience, to then consider organisational factors when REs return home to start or invest in new business ventures with a new international outlook. Findings confirm that prospective entrepreneurs travelling abroad for school or work adapt their human capital to the new environment; we demonstrate how this happens. Our main contributions relate to the journey element when REs return experiencing a poor fit with their home business environment, but being motivated towards international entrepreneurship as an opportunity for personal validation and organisational impact. We propose a dynamic and holistic model of internationalisation as a human capital adaptation journey which contributes to human capital theory in international entrepreneurship research.