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Decision-makers' risk perception in the internationalisation of small and medium-sized firms

Jonas Eduardsen and Svetla Marinova

International Journal of Export Marketing, 2016, vol. 1, issue 1, 4-26

Abstract: This study examines the risk perception of decision-makers in small and medium sized enterprises (SMEs) and the factors underlying these perceptions in the process of internationalisation of their firms. While risk perception has been identified as a potential predictor variable in internationalisation research, very little work has been done exploring the factors and processes that shape decision-makers' perception of risk. A qualitative interview-based approach was adopted by collecting data from 32 Danish SMEs operating in four different industries. Findings suggest that while risk awareness exists, decision-makers do not perceive internationalisation as risky behaviour. Findings highlight the importance of decision-makers' background, including cognitive and psychological characteristics, such as self-efficacy and locus of control, and their experiences in explaining risk perceptions associated with firm internationalisation.

Keywords: risk perceptions; SME internationalisation; small and medium-sized enterprises; SMEs; self-efficacy; locus of control; experience; decision making; Denmark; risk awarenes; risky behaviour; cognitive characteristics; psychological characteristics; self-efficacy. (search for similar items in EconPapers)
Date: 2016
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Handle: RePEc:ids:ijexpo:v:1:y:2016:i:1:p:4-26