What and how do SMEs gain by going international? A longitudinal investigation of financial and intellectual resource growth
Anthony Goerzen and
Shi, Weilei (Stone)
Journal of World Business, 2018, vol. 53, issue 6, 817-834
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)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:worbus:v:53:y:2018:i:6:p:817-834
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