International corporate venturing: an empirical study of SMEs pursuing opportunities in international markets

Little is known about international small and medium sized firms (SMEs) venturing into foreign markets. This paper contributes to the body of knowledge at the entrepreneurship-internationalization interface by applying the opportunity-based conceptualization of entrepreneurship initially developed by Howard Stevenson to corporate venturing activities of SMEs in foreign markets. Using data from a representative sample of 468 international SMEs, we found that international corporate venturing activities are enhanced by an entrepreneurial management structure, an entrepreneurial growth orientation, as well as an entrepreneurial culture.

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