• Journal of Korea Trade
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• 제24권6호
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• pp.135-156
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• 2020

Purpose - This study investigates whether the internationalization process of traditional industry firms can be categorized as born global, early internationalization, or gradual internationalization, and examines what factors promote internationalization in traditional industries using a case study of two firms, one each in China and Korea. Design/methodology - This study elects to use case study methodology to determine the "how" and "why" of internationalization process of traditional industry firms. Taking into consideration that factors that impact the internationalization process of firms are diverse and unclear in terms of causality, this study utilizes exploratory case study methodology. This research performs a comparative two-case study of two firms in traditional industries, one each in China and Korea, to examine similarities and differences of study subjects in order to improve the validity and suitability of research results. Findings - The findings of this research are as follows: First, traditional industries are more likely go through early and rapid internationalization rather than being born global; born globals are far more likely to appear in high tech industries. Second, the internationalization process of companies that go through early and rapid internationalization differs from what is indicated by traditional internationalization theories, and are not limited by factors like psychological distance and lack of experiential knowledge. Third, international entrepreneurship, international market orientation, and imitation and learning are important internal driving factors for early and rapid internationalization. Fourth, conditions within the domestic market, policy support from the government, and pilot effect from industry leaders are external driving factors for early and rapid internationalization. Originality/value - This study shows that the internationalization process of traditional industry firms is more likely to be early and rapid internationalization rather than being born global and suggests answers to why this may be the case. In addition, through an examination of case studies, it reveals that the internationalization process of traditional industry firms that undergo early and rapid internationalization is different from traditional internationalization theory, in that they are not limited by the lack of psychological proximity and empirical knowledge, and are driven by international entrepreneurship, international market orientation, imitation and learning, competitive pressure within the domestic market, government's policy support, and the pilot effect of industry leaders. Therefore, this study contributes to literature by expanding the scope of application of born global theory to traditional industries, making born global theory more generalizable and identifying driving factors to internationalization of traditional industry firms.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.905-913
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• 2020

Internationalization of multinational companies in the globalized context is a popular topic in the academic world and it is also a strong concern of CEO/managers. However, this topic has not been well discussed in the academic community in Vietnam that can be contextualized in the typical transition economy. This paper is designed to explore critical success factors (CSF) of internationalization of large Vietnamese companies that have contributed major revenue from the international market. Through interviews with CEO/managers of successful companies geared toward world markets, the CSFs of internationalization have been identified and categorized into groups in which each CSF has interaction with each other, and together have combined impacts on the success of internationalization. The research results provide a conceptual framework to analyze factors affecting internationalization of large Vietnamese companies. Thank to this conceptual framework, further exploratory and/or confirmatory research can be developed to locate more success factors of internationalization. In addition, some particularly critical factors of internationalization success of Vietnamese companies are found to be useful to both CEO/managers and policymakers. CEO/managers can benefit from the research results by concentrate their limited efforts/resources in managing these CSFs, and policymaker may design CSF-based policies to boost the internationalization of domestic companies.

• Korean Journal of Comparative Education
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• 제18권4호
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• pp.83-111
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• 2008

This study examines internationalization index of higher education to draw implications for South Korea. To this end, this study first introduces the concept of internationalization of higher education, followed by the background of the development of internationalization index. Then examined are two internationalization index of higher education: one developed by American Council Education (ACE) and the other developed by OECD, which is known as IQRP (International Quality Review Process). ACE's international index of higher education is useful to governments when they assess the process of internationalization of universities. IQRP, on the other hand, is useful to universities and colleges when they evaluate their status of internationalization. Drawn implications are (1) it is important for universities to build a clear goal and implement appropriate strategies of internationalization, (2) policies on internationalization of higher education should concentrate on contents rather than forms, and (3) the efforts for internationalizing higher education should be made along with the efforts for improving the quality of education.

• East Asian Economic Review
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• 제18권4호
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• pp.339-366
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• 2014

This paper examines the impact of internationalization on the product, process and organizational innovations of Korean service firms. Despite the increasing importance of the service sector and the discrepancies in the natures of the manufacturing and service industries, the internationalization-innovation link in the context of service firms has rarely been examined empirically on a large sample. Based on the results of the logistic regressions using the 2006 Korean Innovation Survey data, we found that Korean service firms' international expansion is significantly and positively associated with their product and organizational innovations. In addition, the magnitude of the estimates in our models revealed that internationalization has a greater impact on product innovation than on process or organizational innovation.

• The Journal of Asian Finance, Economics and Business
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• 제7권8호
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• pp.473-483
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• 2020

Internationalization of SMEs has gathered pace in recent times with falling trade barriers and rising world trade encouraging small firms to seek profits and growth in foreign markets. This has attracted the attention of researchers, and several studies have been conducted in Western nations on the factors influencing the process of SME internationalization. However, hardly any study has been done on SME internationalization in the Gulf Cooperative Council (GCC) region, thus leaving a gap in the literature. This study investigates the influence of four factors, namely, human capital, network competency, entrepreneurial orientation, and market volatility on the degree of internationalization of SMEs in Oman. The study employs survey data collected from 150 SME owners and managers using a structured questionnaire having 27 items, and has been analyzed using correlation and logistic regression, as the dependent variable is binary in nature. The results reveal the impact of the chosen variables on the degree of internationalization of SMEs. The findings of the study suggest that network competency has the highest impact on degree of internationalization of Omani SMEs, followed by human capital and entrepreneurial orientation, while market volatility, though insignificant, moderated the relationship between entrepreneurial orientation and degree of internationalization of Omani SMEs.

• East Asian Economic Review
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• 제26권2호
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• pp.119-142
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• 2022

This paper uses social network theory and the internationalization process model (IPM) to determine how external network linkages influence the location choices of multinational enterprise from emerging economies (EMNEs); specifically, whether past alliance experience influences location choices and its impact on the subsequent entry of MNEs from emerging economies. This paper applies survival analysis using initial and secondary investments from 2,000 Chinese A-share listed companies that entered 90 countries between 1997 and 2018 to analyze both the initial and subsequent entries of Chinese outward foreign direct investments (OFDIs) in major host countries. The findings indicate that an MNE's previous experience with a company from a particular country will increase the likelihood of an initial investment in that country. Previous alliance experience may accelerate the foreign investment process of EMNE and stimulate firms making a commitment to a position in a foreign network, regardless of cultural distance and stage of internationalization. Alliance before initial investment may increase the likelihood and speed of entering a host country as wholly owned subsidiaries and that network linkages not only significantly influence the internationalization process of small and medium-sized enterprises, as indicated by the IPM, but also that of large listed firms.

• Journal of Distribution Science
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• 제12권7호
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• pp.5-12
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• 2014

Purpose - This study identified internationalization factors forKorean SMEs and explored factor differences between AEO and non-AEO authorized companies. Research design, data, and methodology - The study was designed to assess internationalization factors for AEO authorization in Korea through a questionnaire survey and an empirical analysis. The questionnaires were conducted for AEO and Non-AEO authorized companies that were undergoing AEO authorization. The study was conducted through e-mail and AEO manager education classes. Ninety-five questionnaires were collected. We employed the exploratory factor analysis methodology to derive internationalization factors for KoreanSMEs, and explored the factor differences between AEO and Non-AEO authorized companies. Results - AEO authorized companies outperformed Non-AEO authorized companies in R&D and technology. This indicated that AEO authorized companies were recognized as reliable and safe companies by the Korea Customs Service and other Customs services in trade facilitation and customs clearance processes. Conclusions - This study has some implications for AEO authorization and internationalization processes, and involved the empirical analysis of SMEs and the exploratory factor analysis in the internationalization process.

• The Journal of the Convergence on Culture Technology
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• 제8권6호
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• pp.269-274
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• 2022

Today, sports are becoming increasingly important for national development, with all countries raising the strategic goal of becoming a sports powerhouse. Among them, martial arts, which are active in China as the main stage among East Asian martial arts, have a long history and are meaningful, and the promotion of internationalization of martial arts is also important. In this study, major problems faced in the process of promoting martial arts internationalization in East Asia were analyzed in depth. Currently, the theoretical system of martial arts is inconsistent and insufficient, there is a big difference in cultural background from region to region, there is a lack of talent for internationalization, and innovative promotion methods are not yet mature. Based on the major problems encountered in the internationalization of each martial arts, we will analyze the internationalization strategy, establish a martial arts theory system, accept the diversity of martial arts culture, and supplement the internationalization talent supply mechanism to propose a martial arts internationalization promotion method. The future succession and development of Chinese martial arts on the global stage and the promotion of internationalization of the value of Chinese martial arts have important theoretical values and practical significance.

• Journal of Distribution Science
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• 제14권11호
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• pp.5-17
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• 2016

Purpose - The purpose of this study is to establish an conceptual framework to explain the mechanism of internationalization behavior being used by recently established retailer in emerging countries. Research design, data, and methodology - The existing research on retail internationalization has focused on global retailers located in advanced countries which have expanded their business to emerging countries. That is, "internationalization from top to bottom". However, recent years have seen a reversal in this trend, resulting in the emergence of "internationalization from bottom to top" by retailers based in emerging economies. In order to explore this reversal, this study attempts to develop an conceptual framework based on the theories of "innovation" and "retail format". Results - This study found an conceptual framework which was adopted both a concept of "formula" derived from the theory of retail format and a concept of "production and process innovation" derived from the theory of innovation as a core concept. Conclusions - The conceptual framework provided an understanding of how retailers in emerging countries have gained a competitive advantage over retail companies based in countries with advanced economies. It suggested that innovation that gave these companies a competitive edge was caused by competitive interaction which allowed them to expand to oversea markets.

• Journal of Distribution Science
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• 제11권3호
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• pp.23-29
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• 2013

Purpose - Recently, the Korean government is seeking to internationalize KRW and reduce its heavy reliance on the U.S. dollar and better cope with risks from external turbulence. However, there has been too little study on this subject in comparision with its importance. The main objective of the paper is to distinguish the descrete stages of the KRW internationalization and recognize the costs and benefits of each stage. Research design, data, methodology - In order to achieve its goal, this study accomplishes a formal policy analysis based on potential factors of currency internationalization and an examination of legal practices in relation to Foreign Exchange Transaction Regulation (the Regulation). Results - This study found that securing monetary policy may not be easy under liberalized capital account for a small open economy like Korea in view of the trillema. In addition, the inherent ambiguity of the Regulation may increase the costs of KRW internationalization. Conclusions-This study revealed the negative system for the control of foreign exchange of the Korean government. The excessive regulatory restrictions on foreign exchange may hinder the process of KRW internationalization. Some legal and policy reforms are needed to improve related regulation and infrastructure.