Digital platforms, internal digitalization, and internationalization of SMES
研究数字平台（商业平台和社交平台）对中小企业国际化的双重作用，发现两者均促进国际化，社交平台作用更强，而内部数字化会削弱商业平台的正面影响。
Digital platforms provide critical external resources for small and medium-sized enterprises (SMEs) seeking to internationalize. Drawing on the SME internationalization and platform literature, this study theorizes the dual role of digital platforms as both enablers and constraints for SMEs in pursuing internationalization. We distinguish between two types of digital platforms—commercial platforms and social platforms—and examine their distinct influences on SMEs’ internationalization. We further explore how internal digitalization, as a key internal resource, moderates these effects. Using a panel dataset of 714 publicly listed SMEs in China from 2009 to 2023, we find that both commercial and social platforms positively influence the internationalization of SMEs. Additionally, the positive effect of social platforms is stronger. Moreover, we find that internal digitalization has a negative moderating effect on the positive relationship between commercial platforms and SME internationalization. Our findings enrich theoretical discussions on SME internationalization and platform research, and offer practical implications for SMEs, platforms, and their stakeholders.