Relying on the accounting data of a panel of 403 Italian manufacturing SMEs collected over a period of 5 years, we find results suggesting that multinationality per se does not impact on the economic performance of international small and medium sized firms. It is the characteristics of the country selected i.e. the political hazard, the financial stability and the economic performance that significantly influence SMEs financial performance. The management implication for small and medium sized firms selecting and entering new geographic markets is significant, since our results show that for SMEs it is the market selection process that really matters and not the degree of multinationality.

Internationalisation, cultural distance and country characteristics: A Bayesian analysis of SMEs financial performance / Majocchi, Antonio; Dalla Valle, Luciana; D'Angelo, Alfredo. - In: JOURNAL OF BUSINESS ECONOMICS AND MANAGEMENT. - ISSN 1611-1699. - 16:2(2015), pp. 307-324. [10.3846/16111699.2012.720600]

Internationalisation, cultural distance and country characteristics: A Bayesian analysis of SMEs financial performance

MAJOCCHI, ANTONIO;
2015

Abstract

Relying on the accounting data of a panel of 403 Italian manufacturing SMEs collected over a period of 5 years, we find results suggesting that multinationality per se does not impact on the economic performance of international small and medium sized firms. It is the characteristics of the country selected i.e. the political hazard, the financial stability and the economic performance that significantly influence SMEs financial performance. The management implication for small and medium sized firms selecting and entering new geographic markets is significant, since our results show that for SMEs it is the market selection process that really matters and not the degree of multinationality.
Internationalisation SMEs, financial performance, host country characteristics, Bayesian statistics.
Internationalisation, cultural distance and country characteristics: A Bayesian analysis of SMEs financial performance / Majocchi, Antonio; Dalla Valle, Luciana; D'Angelo, Alfredo. - In: JOURNAL OF BUSINESS ECONOMICS AND MANAGEMENT. - ISSN 1611-1699. - 16:2(2015), pp. 307-324. [10.3846/16111699.2012.720600]
File in questo prodotto:
File Dimensione Formato  
Jou of Bus Economics & Mng - 2013 - d'Angelo Dalla Valle.pdf

Open Access

Descrizione: paper
Tipologia: Documento in Post-print
Licenza: Creative commons
Dimensione 1.23 MB
Formato Adobe PDF
1.23 MB Adobe PDF Visualizza/Apri
Pubblicazioni consigliate

Caricamento pubblicazioni consigliate

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11385/196818
Citazioni
  • Scopus 19
  • ???jsp.display-item.citation.isi??? 15
social impact