Internationalization effects on financial performance: The case of Portuguese industrial SMEs
Autor(a) principal: | |
---|---|
Data de Publicação: | 2019 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/11328/2937 |
Resumo: | The objective of this paper is to empirically examine the relationship between the firms’ degree of internationalization and their financial performance. The literature about performance determinants is abundant however, the relation between internationalization and profitability in the context of Small and Medium Enterprises (SMEs) is much less studied. It is used an unbalanced panel data of 4.133 Portuguese industrial SMEs for the period from 2010 to 2016 and applied a random effects model. The results indicate that internationalization, measured as export intensity/diversity/distance, influences firm profitability, in particular when exports are directed to distant markets and conducted by small firms. Also, the presence of a non-linear relationship between internationalization and profitability calls for managers’ attention to its dysfunctional consequences for firm performance, especially at intermediate levels of internationalization. Due to SMEs relevance in the majority of the economies, our results and its implications can be generalized to other countries. |
id |
RCAP_bbf562a729d7542cb1b7192fc3cab690 |
---|---|
oai_identifier_str |
oai:repositorio.upt.pt:11328/2937 |
network_acronym_str |
RCAP |
network_name_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository_id_str |
7160 |
spelling |
Internationalization effects on financial performance: The case of Portuguese industrial SMEsInternationalizationFinancial performanceExport marketsSMEsPanel-data methodologyThe objective of this paper is to empirically examine the relationship between the firms’ degree of internationalization and their financial performance. The literature about performance determinants is abundant however, the relation between internationalization and profitability in the context of Small and Medium Enterprises (SMEs) is much less studied. It is used an unbalanced panel data of 4.133 Portuguese industrial SMEs for the period from 2010 to 2016 and applied a random effects model. The results indicate that internationalization, measured as export intensity/diversity/distance, influences firm profitability, in particular when exports are directed to distant markets and conducted by small firms. Also, the presence of a non-linear relationship between internationalization and profitability calls for managers’ attention to its dysfunctional consequences for firm performance, especially at intermediate levels of internationalization. Due to SMEs relevance in the majority of the economies, our results and its implications can be generalized to other countries.2019-11-12T11:34:54Z2019-11-122019-11-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfPacheco, L. (2019). Internationalization effects on financial performance: The case of Portuguese industrial SMEs. Journal of Small Business Strategy, 29(3), 97-116. Disponível no Repositório UPT, http://hdl.handle.net/11328/2937http://hdl.handle.net/11328/2937Pacheco, L. (2019). Internationalization effects on financial performance: The case of Portuguese industrial SMEs. Journal of Small Business Strategy, 29(3), 97-116. Disponível no Repositório UPT, http://hdl.handle.net/11328/2937http://hdl.handle.net/11328/2937eng2380-1751Pacheco, Luís Miguelinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-16T02:10:08Zoai:repositorio.upt.pt:11328/2937Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:40:40.651904Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Internationalization effects on financial performance: The case of Portuguese industrial SMEs |
title |
Internationalization effects on financial performance: The case of Portuguese industrial SMEs |
spellingShingle |
Internationalization effects on financial performance: The case of Portuguese industrial SMEs Pacheco, Luís Miguel Internationalization Financial performance Export markets SMEs Panel-data methodology |
title_short |
Internationalization effects on financial performance: The case of Portuguese industrial SMEs |
title_full |
Internationalization effects on financial performance: The case of Portuguese industrial SMEs |
title_fullStr |
Internationalization effects on financial performance: The case of Portuguese industrial SMEs |
title_full_unstemmed |
Internationalization effects on financial performance: The case of Portuguese industrial SMEs |
title_sort |
Internationalization effects on financial performance: The case of Portuguese industrial SMEs |
author |
Pacheco, Luís Miguel |
author_facet |
Pacheco, Luís Miguel |
author_role |
author |
dc.contributor.author.fl_str_mv |
Pacheco, Luís Miguel |
dc.subject.por.fl_str_mv |
Internationalization Financial performance Export markets SMEs Panel-data methodology |
topic |
Internationalization Financial performance Export markets SMEs Panel-data methodology |
description |
The objective of this paper is to empirically examine the relationship between the firms’ degree of internationalization and their financial performance. The literature about performance determinants is abundant however, the relation between internationalization and profitability in the context of Small and Medium Enterprises (SMEs) is much less studied. It is used an unbalanced panel data of 4.133 Portuguese industrial SMEs for the period from 2010 to 2016 and applied a random effects model. The results indicate that internationalization, measured as export intensity/diversity/distance, influences firm profitability, in particular when exports are directed to distant markets and conducted by small firms. Also, the presence of a non-linear relationship between internationalization and profitability calls for managers’ attention to its dysfunctional consequences for firm performance, especially at intermediate levels of internationalization. Due to SMEs relevance in the majority of the economies, our results and its implications can be generalized to other countries. |
publishDate |
2019 |
dc.date.none.fl_str_mv |
2019-11-12T11:34:54Z 2019-11-12 2019-11-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
Pacheco, L. (2019). Internationalization effects on financial performance: The case of Portuguese industrial SMEs. Journal of Small Business Strategy, 29(3), 97-116. Disponível no Repositório UPT, http://hdl.handle.net/11328/2937 http://hdl.handle.net/11328/2937 Pacheco, L. (2019). Internationalization effects on financial performance: The case of Portuguese industrial SMEs. Journal of Small Business Strategy, 29(3), 97-116. Disponível no Repositório UPT, http://hdl.handle.net/11328/2937 http://hdl.handle.net/11328/2937 |
identifier_str_mv |
Pacheco, L. (2019). Internationalization effects on financial performance: The case of Portuguese industrial SMEs. Journal of Small Business Strategy, 29(3), 97-116. Disponível no Repositório UPT, http://hdl.handle.net/11328/2937 |
url |
http://hdl.handle.net/11328/2937 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
2380-1751 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
|
_version_ |
1799134969418743808 |