Every cloud has a silver lining: The role of business digitalization and early internationalization strategies to overcome cloudy times

Crespo, Cátia Fernandes; Silva, Graça Miranda

http://hdl.handle.net/10400.8/14840

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Authors

Crespo, Cátia Fernandes

Silva, Graça Miranda

Abstract(s)

In this research we explore, building on dynamic capabilities, the influence that certain strategies followed by international new ventures (INVs) have on their responses to the COVID-19 crisis. Specifically, we access the effect of business digitalization, early internationalization and internet international strategy on two possible responses to the crisis. Through the data gathered by a survey of 153 INVs, we were able to test the hypothesized framework using partial least squares structural equation modeling (PLS-SEM) technique. We find that all the hypothesized relationships were confirmed. Therefore, business digitalization strategy, early internationalization strategy and internet international strategy have a positive effect of both responses to the crisis: production recovery (short-term response) and digital transformation (long-term response). This study provides two insightful contributes to the international entrepreneurship field: i) these three strategies (business digitalization, early internationalization and internet international focus) incorporate dynamic capabilities that give INVs ad- vantages in reacting to a crisis; and ii) faced with a crisis situation, INVs simultaneously implement short-term and long-term responses.

Description

Article number - 123084

Keywords

Business digitalization strategy Early internationalization strategy Internet international strategy Crisis responses COVID-19 crisis International new ventures

URI

http://hdl.handle.net/10400.8/14840

Citation

Crespo, N. F., Crespo, C. F., & Silva, G. M. (2024). Every cloud has a silver lining: The role of business digitalization and early internationalization strategies to overcome cloudy times. Technological Forecasting and Social Change, 200, 123084.