What and how do SMEs gain by going international? A longitudinal investigation of financial and intellectual resource growth
This study examines the accumulation of financial and intellectual resources of U.S.-based biopharmaceutical SMEs. We find that internationalized SMEs experience better financial resource growth than domestic market-focused SMEs only in the long run. While international expansion per se does not ena...
Main Authors: | , , , |
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Format: | Article |
Language: | English |
Published: |
Elsevier Inc.
2018
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Subjects: | |
Online Access: | View Fulltext in Publisher |
Summary: | This study examines the accumulation of financial and intellectual resources of U.S.-based biopharmaceutical SMEs. We find that internationalized SMEs experience better financial resource growth than domestic market-focused SMEs only in the long run. While international expansion per se does not enable SMEs to accumulate more intellectual resources than via domestic expansion, it exerts a positive impact over time for SMEs with strong alliance capabilities. Moreover, we show that alliance capabilities are more important than in-house technological capabilities for key resource accumulation of internationalized SMEs over time. Our results infer that SMEs gain the benefits of resource exploration via international expansion. © 2018 Elsevier Inc. |
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ISBN: | 10909516 (ISSN) |
DOI: | 10.1016/j.jwb.2018.07.001 |