• Journal of Korea Technology Innovation Society
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• v.8 no.2
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• pp.809-831
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• 2005

This paper explores the difference between domestic new ventures(DNV) and international new ventures (INV). New ventures pursue business opportunities in their target markets armed with experienced founding team, distinctive competitive strategies, and different entry time at foreign market. As a result, INVs were founded by larger number of founding team and more experienced in international business. Also INVs enter earlier global market and pursue business opportunities than DNVs. in In terms of competitive strategy, INVs highlight continuous quality improvement and diverse customers compared to DNVs focused on intellectual property rights. INVs get higher profitabilities in financial performance. Finally, this paper suggests some managerial implications for new venture to explore business opportunities in the global markets.

• Asia-Pacific Journal of Business
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• v.9 no.3
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• pp.25-35
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• 2018

Research addressing international new ventures' social responsibility activities is scarce. Specifically, researchers have little account for the effects of an international new venture's social responsibility efforts on the outcomes of relationships with local customers in emerging economies. Against this background, we attempt to extend the boundaries of an understanding of the effects of international new ventures' social responsibility engagement on local customers' loyalty through customer trust and customer identification in emerging economies. Based mainly on the stakeholder theory and the relationship marketing theory, our study conceptualize two facets of international new ventures' social responsibility efforts: ethical and philanthropic corporate social responsibility engagement. In addition, we identify positive customer relationship-building mechanisms for each facet. Furthermore, our study presents an empirically testable propositions that would explain how international new ventures' social responsibility efforts influence the outcomes of relationships with local customers in emerging economies. Finally, this manuscript provides a discussion of the present study' implications for theory and practice and limitations that naturally lead to future research on international new ventures' social responsibility activities in developing economies.

• Journal of Korea Trade
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• v.26 no.7
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• pp.59-76
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• 2022

Purpose - As ahigher-order ability, improvisational capability is often employed to help a firm cope with unexpected or unanticipated issues. In light of the severe global business challenges and turbulent environmental changes, this study aimed to explore whether home-based network ties could shape the influence of improvisational capability on international entrepreneurship, alongside investigating the boundary conditions of competitive turbulence in their moderating effects. Design/methodology - The sample for the international entrepreneurship sector was obtained from the Industry and Information Technology Department of Jiangsu. In September 2021, the questionnaires were sent to the targeted ventures and required the top managers to complete the survey by email or telephone. The final research sample comprised 113 international new ventures. To test the hypotheses, moderated hierarchical regression analysis was conducted. Findings - Our empirical results suggested that (1) unlike some previous literature, a positive effect of improvisational capability on the performance of international new ventures was not found; (2) home country-based networks (both political ties and business ties) are contingent factors that may partially stimulate the value creation of improvisational capability; and (3) in a highly competitive environment, the moderating role of business ties at home may become much stronger, however, the contingent role of political ties at home was not found. Originality/value - This study mainly concentrates on the two important types of home country-based networks, political and business ties at home, that may help international new ventures access strategic resources necessary for supporting the performance implications of improvisational capability. Thus, it extends the existing improvisational theory to encompass international entrepreneurship.

• Asia-Pacific Journal of Business
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• v.8 no.1
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• pp.33-44
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• 2017

The present study aims to examine the role of market orientation as an international partnership property. This property, labeled export-venture market orientation, is at the inter-firm level and is related to the new market development (NMD) activities of export-ventures. Specifically, this article is to define the export-venture market orientation; to argue that it is a major factor in NMD export-venture success; and to argue that the resource-advantage (R-A) theory of competition can provide a theoretical foundation for this concept and explain its contribution to export-ventures' international expansion success. This manuscript is conceptual in approach. In their efforts to strengthen relationships, export-ventures may tend to focus so much time on the partnership factors that they miss market opportunities. As a spanning process, NMD should be informed by both external and internal activities. In an export-venture, market orientation helps guide NMD activities from outside to inside and vice versa. As a dynamic and disequilibrium provoking process, the R-A theory can theoretically ground the concept of export-venture market orientation and explain its role in NMD export-venture success. The current study contributes to business marketing theory in three ways: it extends the concept of intra-organizational market orientation to an inter-organizational context; contributes to understanding the role of idiosyncratic resources in export-ventures; and theoretically explains the concept of export-venture market orientation. The present study is the first to extend the concept of market orientation into inter-organizational NMD framework and to examine the role of export-venture market orientation in NMD export-venture success.

• Journal of Korea Trade
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• v.27 no.4
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• pp.61-76
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• 2023

Purpose - Along with emerging international entrepreneurship, there is a need for exploring the influencing mechanism of dual network embeddedness of the host country on international entrepreneurial performance. Drawing on network embeddedness theory and organizational improvisational theory, the present study constructs a theoretical model regarding the logic relationships between the dual network embeddedness of the host country, organizational improvisational capability, and international entrepreneurial performance. Design/methodology - Using a questionnaire survey, our study conducted data in two ways. The final research sample comprised 129 international new ventures. To test the hypotheses, a three-step mediation test method was conducted. Findings - Our empirical results suggested that both host-country social network embeddedness and industrial network embeddedness significantly affected the international entrepreneurial performance. Organizational improvisational capability significantly affected the international entrepreneurial performance. Third, organizational improvisational capability partially played mediating role in the relationship between the dual network embeddedness of the host country and international entrepreneurial performance. Originality/value - This study mainly concentrates on the two important types of host-country networks, host-country social network embeddedness and industrial network embeddedness, that may help international new ventures access the strategic resources necessary to support performance. Thus, it extends the existing network embeddedness theory and improvisational theory to encompass international entrepreneurship.

• International Commerce and Information Review
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• v.16 no.4
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• pp.103-123
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• 2014

Export performance has been a core topic in export marketing research. This study aims to investigate the relationship between adaptation/standardization strategies and export performance obtained after implementing each of these strategies to marketing mix variables. It is expected that the study results will help companies better understand an efficient marketing mix and applicability of adaptation/standardization approaches in their export ventures. New Zealand exporting firms which actively seek for export markets in Korea are selected for empirical analysis of this study. Adaptation and standardization are concepts that signify the level of intensity in each strategy; both have advantages and weaknesses. In the case of adaptation approach, it is shown that the difference in export performance between satisfactory and non satisfactory export ventures is statistically significant in marketing mix variables such as price, place and promotion. However, product variables affect statistical significance on export performance between satisfactory and non satisfactory export ventures in standardization approach. This study implies that when a company exports its product overseas, standardization effort is more important for product variables whereas much effort needed in adapting marketing variables such as price, place, and promotion to get satisfactory export performance.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.749-758
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• 2007

Learning has become an important aspect for any organization to stay relevant and competitive in the corporate world of survival. In construction industry, the international construction joint ventures (ICJVs) provide an excellent platform with opportunity of learning among partners seeking to develop new area of competency and improve their overall competitiveness for their next project endeavor. This paper discusses the development of a conceptual model of effective learning in ICJVs using four major stages of development in a typical joint venture (JV) 's process. The study identified that there are three key constructs that contribute to effective learning comprising learning conditions in the JV's pre-inception stage, success factors of JV for learning in the forming & organizing stage, and learning actions in the implementation & adjustment stage. The effective learning outcomes are measured by the characteristics of learning organization during the JV's completion & evaluation stage. Details and issues of each stage and the methodology of research will be presented and discussed.

• International Commerce and Information Review
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• v.9 no.4
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• pp.41-66
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• 2007

This paper develops a model of the export timing and export performance of venture firms by drawing by resource based view and born-global firm theory. The model aims at explaining the role of internal resources of small new venture firms and environment factors in accelerating the firm's export timing and achieving export growth. Hypothesses were developed around the following factors: management characteristics in terms of CEO's foreign experience and export commitment; organizational characteristics in terms of technological competence and marketing competence, and inter-functional cooperation; and finally environmental factors in terms of domestic and market attractiveness and foreign market attractiveness influence both the export timing and export performance. Structural equation modeling analysis by using 214 small new ventures provides a partial supports for the hypotheses. The result showed that technological competence have an influence on early export timing and that CEO's foreign experience and export commitment, technological competence and foreign market attractiveness are related export performance significantly. It also showed the significant relationship between export timing and export performance.

• International Commerce and Information Review
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• v.15 no.2
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• pp.129-162
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• 2013

The purpose of this work is to explore the role of international entrepreneurship(IE) in explaining internationalization process of Korean ventures and to structure the model of IE with the logics of effectuation. The internationalization of entrepreneurial company is regarded as the realization of entrepreneurship which find out and use opportunities across borders in this point of view, and the realization process gets more realistic and applicable to the internationalization of ventures by effectuation. So we constructed the new concepts of the generating-internationalization-outcome capability(GIOC), which is the effectual capability allowing ventures to go international despite their lack of internal resources and experiences. Its sub-capabilities of GIOC are extemporaneous coping capability, perform-resource-in-hand capability and network-use capability. The empirical analyses of the relations among the capabilities and the performances of internationalization are performed in order to prove the rationale of the model, which provides finally significant evidences of the relationships. The key contribution of this study is that it highlights the important role of IE in internationalization of ventures and shows the possible role of effectuation in explaining the realization process of IE.

• International Area Studies Review
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• v.13 no.2
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• pp.445-474
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• 2009

This study tries to investigate the factors influenced on the performance by top management team's(TMT's) international entrepreneurship(IE) and firm's capabilities(marketing capability and R&D capability) of Korean Ventures. The research model and hypothesis set that TMT's IE directly affect to the performance directly affects and TMT's IE indirectly affect to the performance through the capabilities(marketing capability and R&D capability) by research prior studies. To verify research model, 115 high-technology based Korean ventures survey to be as samples by structured questionnaires and the data is tested by SEM(structural equation modeling) analysis. The results of analysis are as follow. First, there was no relationship between TMT's IE and performance. Second, the IE positively affected to firm's capabilities(marketing capability and R&D capability). Third, firm's internal capabilities positively affected to performance. These results only few TMT's IE cannot sufficiently affect to performance but IE should be propagated to marketing and R&D departments and then firm's performance can improved. This study respect to provide a meaningful implication to globalization and performance of Korean Ventures.