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Edited by Léo-Paul Dana
Chapter 25: Greek Perspectives of International Entrepreneurship
Pavlos Dimitratos and Spyros Lioukas Should ﬁrms concentrate their international operations on established or emerging markets? This chapter addresses this theme by examining internationalization ventures of small and medium-sized manufacturing ﬁrms based in a smaller EU country in south-east Europe with an advancing economy, namely Greece.* Preliminary evidence, from a study that includes both quantitative and qualitative aspects, suggests that investigated ﬁrms tend to achieve superior performance in established rather than in emerging markets. However, it may still be premature to make such a performance comparison between the two country categories. In established markets, implementation of foreign direct investment modes, that is joint ventures and subsidiaries, and enterprise experience in the foreign market can have a positive inﬂuence on performance; uncertainty about the foreign country may have a negative inﬂuence on performance. In emerging markets, adoption of low, ‘penetration’ prices and strategic signiﬁcance of the country to the international growth of the ﬁrm can have a positive inﬂuence on performance. Interestingly, ﬁrms which operate in both market categories seem to achieve poorer performance than ﬁrms which operate in only one of them. The evidence of this study also suggests that particular organizational variables, such as entrepreneurial style, do not apply to operations in speciﬁc countries but rather to foreign operations or even the whole range of operations of the ﬁrm. This fact implies that ‘international’ entrepreneurship may be an inappropriate term to use for the ventures of ﬁrms at a speciﬁc foreign country level....
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