MODELLING INTERNATIONALIZATION OF HIGH GROWTH FIRMS: MICRO LEVEL APPROACH


Ekonomika a management

MODELLING INTERNATIONALIZATION OF HIGH GROWTH FIRMS: MICRO LEVEL APPROACH

High-g rowth firms (HGFs) make a significant impact on the development of countries’ economies and micro, or firm level, factors are vital in understanding this phenomenon. Indeed, HGFs are unique engine of national economies that contribute essentially to economic growth which is much sought after in internationally open economic environment. More specifically, HGFs internationalization is perceived as a source of productivity, export and employment growth in the country. Economic policies of countries, as a macro level stimulus, aim to provide impetus for HGFs development, however understanding micro level factors of HGFs creation, development and internationalization are the basis for macro level decisions. Studying and modelling of micro level factors not only provides an opportunity to understand the phenomenon of HGFs but also develops the basis for policy decisions especially in the field of business internationalization.
Jméno a příjmení autora:

Renata Korsakienė, Vratislav Kozak, Svajonė Bekešienė, Rasa Smaliukienė

Rok:
2019
Ročník:
22
Číslo:
1
Klíčová slova:
High growth firms, internationalization, entrepreneurial traits, entrepreneurial perceptions, management personnel
DOI (& full text):
Anotace:
The role of owners/professional managers has been recognized as a vital in the development processes of high growth firms (HGFs), contributing to countries’ productivity and competitiveness. The…více
The role of owners/professional managers has been recognized as a vital in the development processes of high growth firms (HGFs), contributing to countries’ productivity and competitiveness. The purpose of the paper is to identify and analyse some of the most significant factors, impacting internationalization of HGFs by investigating the attitudes of owners and professional managers. Theoretical discussion, related to international entrepreneurship, entrepreneurial traits and entrepreneurial perceptions, has led to the development of the research instrument. The analysis is based on a quantitative approach: the survey focuses on Lithuanian HGFs. The sample comprises 353 firms, included in the annual Gazelle list. The study does not reveal the difference between the attitudes of owners and professional managers. The results corroborate previous investigations disclosing that the traits of entrepreneurs and managers, matching entrepreneurial tasks, are good predictor of HGFs internationalization. The importance of external incentives, perceived by the owners and managers, are decreasing while HGFs internationalization is increasing. The joint effect of entrepreneurial traits and perceptions of internal and external barriers are good predictors of HGFs internationalization. The findings of the study are useful for the policy makers in the financial support decision making process and in the development of additional training programs. The implications for the managers of HGFs lie in the possibility to assess their personality traits and conclude about their suitability to that task. The research fills the gap in the extant knowledge by investigating micro-level factors and provides valuable findings on HGFs in Eastern European country.
Sekce:
Ekonomika a management

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