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What and how do SMEs gain by going international? A longitudinal investigation of financial and intellectual resource growth

Lei Li, Dan Li, Anthony Goerzen and Shi, Weilei (Stone)

Journal of World Business, 2018, vol. 53, issue 6, 817-834

Abstract: 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.

Keywords: Internationalization; Dynamic capability; Technological capability; Alliance capability; SME; Biopharmaceutical industry (search for similar items in EconPapers)
Date: 2018
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