• East Asian Journal of Business Economics (EAJBE)
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• v.9 no.1
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• pp.17-26
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• 2021

Purpose-This study examines how financial slack resources and subcontracting of small and medium-sized enterprises (SMEs) affect their internationalization. To identify slack resources, subcontracting, and internationalization of SMEs, 1,062 SME samples in the electronics industry are used in the logistic regression analysis to analyze their relationship with SMEs' export. Research design, data, and methodology-This study conducted the empirical analysis on 1,062 SMEs in the electronics industry using the sample survey method. The samples were based on data selected and distributed by the Ministry SMEs and Startups. The data analysis methods were descriptive, correlation analysis, and logistics regression analysis. Result-The analysis shows that only available resources are negatively related to SMEs' internationalization. It can be interpreted as a high tendency for SMEs to avoid relatively risky choices such as entering overseas markets if they have enough financial resources. Moreover, subcontracting has a negative relationship with internationalization. Conclusion-This study broadened the scope of SME research by analyzing subcontracting and slack resources together and provides practical implications for policymakers and managers.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.287-300
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• 2021

The study is conducted to find out the impact of the country- and corporate-level governance and firm internationalization on stock liquidity of 120 listed firms in Japan, Hong Kong, Pakistan, and India. Panel data is used in the current study. The annual time span covered in the current study is 10 years. The current study explores results based on secondary data. The findings of the 'robust panel corrected standard error' estimator shows that the internationalization strategy of firms positively influences the stock liquidity. The internationalization strategy of multinational corporations proves to be an effective methodology for improving stock liquidity in the home market as well as abroad. The study also shows that a stronger relationship exists between stock liquidity and internationalization in those countries where the regulatory settings are effective, the judiciary system is efficient and shareholders' rights are protected. Corporate governance and stock liquidity are negatively associated. The study also finds a negative relationship between country-level governance mechanisms and stock liquidity. Whereas the 'robust panel corrected error' estimator shows a positive association between corporate governance mechanisms and firm internationalization. The study depicts that effective corporate governance motivates multinational companies to expand their business abroad.

• Journal of Distribution Science
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• v.12 no.7
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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.

• Journal of Korea Trade
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• v.24 no.7
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• pp.54-72
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• 2020

Purpose - This study explores the contextual factors that affect the relationship between CEO overseas experience and firm internationalization. This study incorporates a wide range of contextual factors, including mega, macro, and micro variables. In particular, this study goes a step further from prior studies by incorporating a higher-order variable i.e., the global financial crisis that can constrain the managerial discretion of a CEO. Design/methodology - To structure the balanced data set before and after the 2008 global financial crisis, we used the data for the years from 2002 to 2014 from a sample of Korean manufacturing firms. Ultimately, 1101 firm-year unbalanced panel observations from 101 firms were used for the analysis. Findings - Our main findings can be summarized as follows. CEO overseas experience is positively related to firm internationalization. However, this relationship varies depending on the CEOs level of managerial discretion. As for the constraining moderation, the global financial crisis weakened the positive relationship between CEO overseas experience and firm internationalization. As for the enabling moderation, the CEOs tenure strengthened the relationship. Originality/value - This study adopted the knowledge, skills, and abilities (KSA) framework to explain the relationship between CEO overseas experience and firm internationalization. Moreover, we argue that the CEO-internationalization relationship depends on the specific context of the managerial discretion, focusing on the 2008 global financial crisis. Empirically, this study adopted the 2SLS procedure to correct endogeneity. Instead of taking the actual value of prior internationalization as a control, we estimated prior internationalization using the instrument variables at an industry level. This procedure made our estimation more robust.

• Korea Trade Review
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• v.48 no.4
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• pp.1-21
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• 2023

This study investigates the effect of internationalization speed and scope on the performance in Korean SMEs. Through empirical regression analysis, the following results were identified. both the time-based speed of internationalization and the scope of internationalization by a geographical perspective have significant positive impacts on international performance. This implies that the earlier and wider in global market expansion, the more positive the effect on performance. It was also confirmed that the scope has a significantly greater effect on international performance than speed, which suggests that the geographical national scope is more meaningful for international performance than the initial foreign market entry speed. In addition, the characteristics of the CEO's international experience strengthened the positive relationship between internationalization speed and performance. In conclusion, it means that the internationalization speed and the scope after foreign market entry should be managed in a balanced way to enhance the level of SMEs internationalization.

• Asian Journal of Innovation and Policy
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• v.2 no.2
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• pp.173-193
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• 2013

This paper surveys the development of Asian universities and their path towards the American entrepreneurial type. The paper suggests Asian universities used internationalization and entrepreneurial missions to follow older American entrepreneurial universities with success towards world-class university status. Current studies are lacking on covering the significance of internationalization at Asian entrepreneurial universities and offer few typologies on the diverse Asian transformations of the past approximate thirty years. Thus, paper proposes a theoretical framework linking internationalization with innovation and classifies into 3 types, the various Asian entrepreneurial university transformations from an international comparative perspective. It then examines the type using case studies.

• International Commerce and Information Review
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• v.13 no.4
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• pp.435-462
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• 2011

Increased attention has worldwide been given to exporting SMEs pursuing the rapid internationalization from their inception. In spite of the limited resources, exporting SMEs have entered in global markets successfully and then improve their internationalization performance. Nevertheless, there is little empirical research regarding internationalization in exporting SMEs, Using a survey of 317 exporting SMEs, this study designated organizational, entrepreneurial, environmental, and technological characteristics as determinants of internationalization performance as well as investigates empirically the relationships among the determinants of internationalization performance, export Support programs of the government, and internationalization performance. According to the results of the study, firstly, R&D capacity, globalization-orientation, international market environment, and technological characteristics (e.g. technological capacity and imitation) have significant effects on international performances. Finally, it is found that export support programs moderated the relationships between market information management, R&D capacity, management capacity, international market information, and technological capacity, and internationalization performance. Above results indicate that if exporting SMEs would not use export support programs effectively, they could not improve internationalization performance. As well, several implications for researchers and practitioners, limitation of this study and future direction were suggested.

• Journal of Venture Innovation
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• v.6 no.2
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• pp.21-39
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• 2023

The study investigates the impact of family ownership heterogeneity on the internationalization decisions of family-owned enterprises from ICT sectors in South Korea. The study uses prospect theory to explore the relationship between ownership structure and internationalization. The study finds that as performance improves, the ultimate owner (CEO) is negatively related to internationalization, while other family members are positively related, demonstrating the heterogeneous behavior of family members. The study suggests that the ultimate owner (CEO) tends to avoid risks associated with internationalization, while other family members are willing to take risks. To better understand the various risk behaviors of family firms regarding internationalization, the inherent heterogeneity of family firms, particularly in light of different risk behaviors between the ultimate owner (CEO) and other family members, may explain the inconsistent results in studies on the effect of family ownership on internationalization.

• Asian Journal of Innovation and Policy
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• v.7 no.3
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• pp.461-488
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• 2018

This paper explores the relationship between network cooperation, innovation, internationalization and economic performance of manufacturing small and medium enterprises (SMEs) of engineering goods industry located in Bangalore city, India. At the outset, it is observed that SMEs receive the maximum assistance in the realm of product specifications. Moreover, they do not resort to manufacturing new products as much as they resort to product modifications or process improvements. Further, it is found (using Chi-square test of independence) that higher the network assistance received from an external network, greater is the innovation performance of SMEs. Subsequently, using analysis of variance (ANOVA), export intensity (proxy for internationalization performance) of SMEs is found to have a significant positive association with both the degree of their network cooperation and of their innovation performance. Lastly, it is observed that higher the degree of each of network cooperation, innovation performance and internationalization performance, better is the economic performance (measured by total sales turnover) of SMEs. These results have significant implications for the policy makers of the country to give due attention to network cooperation, innovation and internationalization as the means of enhancing the economic performance of SMEs.

• Journal of Distribution Science
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• v.14 no.11
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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.