Frontiers in European Entrepreneurship Research
Edited by Hans Landström, Hans Crijns, Eddy Laveren and David Smallbone
Chapter 11: Direct and Indirect Effects of Entrepreneurial and Market Orientations on the International Performance of Spanish and Belgian International New Ventures
11. Direct and indirect eﬀects of entrepreneurial and market orientations on the international performance of Spanish and Belgian international new ventures María Ripollés, Andreu Blesa, Diego Monferrer and Ysabel Nauwelaerts INTRODUCTION An important body of research in international entrepreneurship has focused on the determination of the main factors that may explain the exceptional speed with which certain new ventures internationalize (Westhead et al., 2001; Zahra and George, 2002; Rialp et al., 2005; Oviatt and McDougall, 2005). However, the research on how international new ventures can develop positional advantages and grow in foreign markets has not attracted the same attention in the literature. According to Day and Wensley (1988, p. 1), positional advantage generally refers to what is observed in the market: ‘a positional superiority in relation to a few targets of competitors’. Some authors have examined how speed of market entry (Autio et al., 2000) and technical knowledge inﬂuence international growth in new ventures (Autio et al., 2000; Oviatt and McDougall, 1997; 2004; Congcong and Khavul, 2005). Others have examined how business networks contribute to success and international growth in new ventures (Chetty and Campbell-Hunt, 2003; Autio et al., 2005; Fernhaber and McDougall, 2005; Congcong and Khavul, 2005). But, in order to overcome the liabilities of newness and foreignness (Stinchcombe, 1965; Hymer, 1976) and to develop a positional advantage in international markets, new ventures must develop tacit market knowledge (Autio et al., 2005; Oviatt and McDougall, 2005). Adopting the resource based view of the ﬁrm and...
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