Handbook of Research on International Entrepreneurship
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Handbook of Research on International Entrepreneurship

Edited by Léo-Paul Dana

This unique reference book provides an array of diverse perspectives on international entrepreneurship, a new and emerging field of research that blends concepts and methodologies from more traditional social sciences. The Handbook includes chapters written by top researchers of economics and sociology, as well as academic leaders in the fields of entrepreneurship and international business. State-of-the-art contributions provide up-to-date literature reviews, making this book essential for the researcher of entrepreneurship and the internationalisation of entrepreneurs.
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Chapter 25: Greek Perspectives of International Entrepreneurship

Pavlos Dimitratos and Spyros Lioukas


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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