Entry mode choices of rapidly internationalizing terminal operators:The determinants of the degree of control on foreign ventures

Giovanni Satta and Luca Persico
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Giovanni Satta: Department of Economics and Business Studies, University of Genoa, Via Vivaldi 5, 16126 Genova, Italy. E-mails: giovanni.satta@economia.unige.it; persico@economia.unige.it
Luca Persico: Department of Economics and Business Studies, University of Genoa, Via Vivaldi 5, 16126 Genova, Italy. E-mails: giovanni.satta@economia.unige.it; persico@economia.unige.it

Maritime Economics & Logistics, 2015, vol. 17, issue 1, 97-126

Abstract: The surge of international terminal operators (ITOs) gives momentum to the ongoing internationalization process in ports, and induces academic literature to investigate their overseas growth patterns. Empirical evidence shows that, although most container port operators experience regular internationalization drives, several firms pursue an unconventional and accelerated foreign expansion process. In this study, we label this new species of ITOs as ‘emerging ITOs’. They include players from developing countries and a handful of financial operators. Grounding on the ‘born-global’ perspective and the Linkage-Leverage-Learning model, the article investigates the antecedents of the degree of control in foreign ventures. It emphasizes the uniqueness of the ITOs undertaking accelerated path of expansions, in opposition to traditional firms. The outcomes demonstrate that cultural distance, relational capabilities and market knowledge are valuable predictors of the emerging ITOs’ entry mode choices.

Date: 2015
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