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- A process view of new ventures internationalization: capabilities, alertness and the moderating role of technological turbulencePublication . Crespo, Nuno Fernandes; Simões, Vitor Corado; Fontes, MargaridaThis research is based on the perception that the explanation of International New Ventures’ (INVs) performance demands a process view, going deeper than the standard approach, in empirical papers, of testing a direct relationship between individual- and company-level antecedents, and performance. In line with Aspelund, Madsen & Moen (2007) and Keupp & Gassmann (2009) arguments, a three-tier model was developed to investigate the process leading to INVs international performance. Based on the dynamic capabilities framework, entrepreneurial alertness was envisaged as the mediating element between firms’capabilities and their international performance. Empirical research confirmed the hypothesized model. Firms’capabilities (entrepreneurial orientation, foreign market knowledge, and absorptive capacity) significantly influence the level of entrepreneurial alertness, which impacts on company international performance. The paper makes three contributions to International Entrepreneurship literature. First, it highlights the key role played by entrepreneurial alertness in explaining INVs’ international performance. This is convergent with the dynamic capabilities view on firms’ ability to sense and seize specific international business opportunities. Second, it shows that alertness is based on a set of first order capabilities, namely entrepreneurial orientation, foreign market knowledge, and absorptive capacity that simultaneously leverage and constrain alertness. is a key element to foster INVs’ higher performance. Third, it underlines the role of technological turbulence as a moderator of the relationship between entrepreneurial alertness and INVs’ international performance.
- Uncovering the factors behind new ventures' international performance: capabilities, alertness and technological turbulencePublication . Crespo, Nuno Fernandes; Corado-Simões, Vítor; Fontes, MargaridaABSTRACT: This research is based on the perception that the explanation of International New Ventures’ (INVs) performance demands a process view, going deeper than the standard approach, in empirical papers, of testing a direct relationship between company-level antecedents and performance. A three-tier model was developed to investigate the process leading to INVs international performance, emphasizing the role of entrepreneurial alertness. Based on the dynamic capabilities framework, entrepreneurial alertness was envisaged as the mediating element between firms’ capabilities and their international performance. Empirical research confirmed the hypothesized model. Firms’ capabilities (entrepreneurial orientation, foreign market knowledge, and absorptive capacity) significantly influence the level of entrepreneurial alertness, which impacts on the levels of self-reported satis faction with the company’s international performance. The paper makes four contributions to International Entrepreneurship literature. First, it highlights the key role played by entrepreneurial alertness in explaining INVs’ international performance. This is convergent with the dynamic capabilities view on firms’ ability to sense and seize specific international business opportunities. Second, this study considers entrepreneurial alertness as a capability that is not limited to the entrepreneur, but it is an organizational capability. Third, it shows that entrepreneurial alertness does not exist in the vacuum, is based on a set of base capabilities, namely entrepreneurial orientation, foreign market knowledge, and absorptive capacity, that simultaneously leverage the INVs to sense possible opportunities and constrain the focus of opportunities to international markets, as a key element to foster INVs’ higher performance. Fourth, it underlines the role of technological turbulence as a moderator of the relationship between entrepreneurial alertness and INVs’ international performance.
- Competitive strategies and international new ventures’ performance: Exploring the moderating effects of internationalization duration and preparationPublication . Crespo, Nuno Fernandes; Simões, Vitor Corado; Fontes, MargaridaABSTRACT: The purpose of this article is twofold: to bring back to discussion the importance of strategy as a key element for international new ventures (INVs) to achieve higher international performance and to assess the relevance of contingency perspective, particularly two organizational contingency factors (internationalization duration and internationalization preparation), in moderating the strategy–performance relationship. The framework developed addresses the effects of four competitive strategies (cost leadership and innovation-based, marketing-based, and quality- and service-based differentiation) as determinants of INVs’ international performance. In addition, internationalization duration and internationalization preparation are included as moderators of these relationships. The hypotheses were tested using a sample of 319 INVs. The findings show that marketing and quality and service differentiation strategies are associated with higher INVs’ international performance and that internationalization duration and internationalization preparation play relevant moderating effects.