Effect of Entrepreneurship Moderates the Relationship of the Firm-Specific Advantage to smes’ Internationalization  

Oleh:

Lee, Wei-long ; Li, Yang ; Wang, Shih-Han ; Liu, Yi-Chun

Jenis: Article from Proceeding
Dalam koleksi: SIBR-Thammasat 2014 Conference on Interdisciplinary Business & Economics Research June 5th- 7th, 2014 di Emerald Hotel Bangkok, page 1-4.
Topik: SMEs; firm-specific advantage; entrepreneurship; internationalization
Fulltext: b14-109.pdf (148.74KB)

Isi artikel

Small and medium-sized enterprises (SMEs) nowadays have played an important role in the international market (Acs and Audretsch, 1991; Acs et al., 1997; Baldwin and Johnson, 1999; Andersson et al., 2004; Chiao et al., 2006; Jalali, 2012). Many studies argued that firms must have own-specific advantages in order to overcome the disadvantage when trying to operate in foreign markets (Hymer, 1960; Horsdt, 1972; Caves, 1982). However, it cannot explain why many SMEs without firm-specific advantage ventured abroad. This study proposes that the entrepreneurship moderates the relationship between the firm-specific advantages and internationalization of SMEs. Taiwan is a small open economy with a small domestic market and few natural resources. Her development therefore depends heavily on the global market. Lucas (1993) argued that Taiwan’s economic miracle came from the rapid accumulation of human capital pushing economic growth, which resulted from learning-by-doing through a huge volume of exports. During its period of economic development, Taiwan’s SMEs (which constitute more than 97 percent of all businesses and 78.11 percent of employment n 2012) have played a big role. Hence, it is worthwhile to investigate how the entrepreneurship moderates the relationship between the firm-specific advantages and internationalization of Taiwan’s SMEs. We employ a questionnaire survey to collect data. The sample frame is provided by the Small and Medium Enterprise Administration. Questionnaires are mailed to 1,000 randomly selected manufacturing firms and 161 were returned, making the 2 effective return 16.1%.The empirical results show that the entrepreneurship can substitute the contribution of firm-specific advantage to the internationalization of Taiwan’s SMEs. In other words, SMEs in Taiwan without enough firm-specific advantage can still successfully operate in foreign market if they have sufficient entrepreneurship.

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