The McGill International Entrepreneurship series
Edited by Hamid Etemad
Chapter 2: Internationalization theories and international growth of smaller firms from emerging markets
With the increasing pace of globalization (Levitt 1983; Perraton et al. 1997; Yip 2003), the prevalence of collaborative arrangements between local and foreign firms and the abundance of market information, the environment of small and medium-sized firms (SMEs) has dramatically changed both at home and abroad. This dramatic change calls for a reexamination of the extant theory as it pertains to the internationalization of SMEs, especially for emerging firms and economies. The dismantling of previous protective walls has lowered barriers to mobility (North 2005) and facilitated access of firms to other markets. It has empowered competitive firms to enter new markets, gain market knowledge and market share, increase their experiential knowledge and the scale and scope of their economies, and hence become even more competitive than ever before, both at home and in international markets. This has been achieved at much lower costs and with less risks due to the increasing use of collaborative arrangements, the higher availability of information (both online and offline) and the extensive use of information and communication technologies (ICTs) due to rapid technological developments and innovation (Perraton et al. 1997).
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