Andreas Bausch

The effect of context-related moderators on the internationalization-performance relationship: Evidence from meta-analysis

Abstract Abstract and Key Results After thirty years of research on the relationship between internationalization and firm performance, findings on direction and magnitude are still contradictory. This paper quantitatively reviews prior research in an attempt to reconcile the fragmented results. We address the question if and how internationalization relates to firm performance by integrating findings from 36 studies (41 samples, N = 7,792) using the method of meta-analysis. We find empirical support for a significant positive relationship at the aggregate level. Equally important, meta-analysis reveals that the relationship is moderated by R&D intensity, product diversification, country of origin, and firm age and size.

The Mediating Role of Entrepreneurial Orientation in the Task Environment–Performance Relationship A Meta-Analysis

Despite the importance of the external task environment for firm performance, little is known about the mechanisms that enable firms to benefit from a specific environmental setting. The authors argue that firms adjust their entrepreneurial orientation (EO) to the external environment and use it as a mechanism to transform the advantages provided by the environment into above-average performance levels. Specifically, the authors use meta-analysis supplemented by structural equation modeling to explore the links among environmental munificence, hostility, dynamism and complexity, EO, and firm performance in a mediation model. The results suggest that environmental munificence, dynamism, and complexity affect EO and, in turn, firm performance. The authors discuss the meta-analytical findings with respect to their theoretical contribution and their practical implications.

Success Patterns of Exploratory and Exploitative Innovation A Meta-Analysis of the Influence of Institutional Factors

Research has frequently argued that firms need to pursue exploratory and exploitative innovation strategies to be viable in an environment of technological change and intensified competition. However, it remains unclear whether exploratory and exploitative innovations are equally successful in different institutional environments. This meta-analysis synthesizes previous empirical findings to reveal under which institutional conditions firms benefit most from exploratory or exploitative innovation. We distinguish between institutional conditions that affect the success derived from exploratory and exploitative innovations through (a) the availability of resources and (b) attitudes toward innovation and the willingness of stakeholders to allocate resources to both innovation types. Our results show that national culture has a strong impact on the success of exploratory innovations, whereas only uncertainty avoidance influences the benefits derived from exploitative innovations. Socioeconomic conditions are equally important for the success of both innovation types. Our findings are of high practical relevance as due to increasing globalization more and more firms operate internationally and managers have choices regarding the location of their exploratory and exploitative innovation activities.

Strategy Process: Shaping the Contours of the Field

The article presents a review of the book “Strategy Process: Shaping the Contours of the Field,” by Bala Chakravarthy.

Evidence-Based Entrepreneurship: Cumulative Science, Action Principles, and Bridging the Gap between Science and Practice

The concept and desiderata of an evidence-based entrepreneurship (EBE) is discussed as a strategy to overcome the gap between knowledge developed in the field of entrepreneurship and its use in practice. Evidence constitutes the best summary of knowledge based on several sources of information (several studies, several different research groups, several different methodological approaches, among them the best methods available) which clearly goes beyond individual experience and a few isolated studies. We argue that meta-analyses can and should be used in entrepreneurship research (and that they should also be used to review qualitative studies). Meta-analyses establish certain relationships; these should then be summarized in well-founded models and theories that can be translated into action principles. These action principles can then be used by various users of EBE. Users of EBE can be scientists, professionals who regularly deal with entrepreneurs (bankers, consultants, venture capital providers), policy makers (e.g., government), students of entrepreneurship, and last but not least the entrepreneurs themselves. Once a set of action principles has been developed from science, their application can be tested with the help of further evidence on the efficacy of interventions (including meta-analyses on the interventions). Evidence-based entrepreneurship (EBE) has the potential to change research, teaching, and practice.

Antecedents of MNE performance: blinded by the obvious in 35 years of literature

Purpose – The purpose of this paper is to summarize theoretical insights about key antecedents of multinational enterprise (MNE) performance and to review and synthesize empirically researched antecedents of MNE performance.Design/methodology/approach – Dominant strategic management approaches to explaining the performance of firms in general are the market‐based view and the resource‐based view. The dominant theory of the MNE from the field of international business is internalization theory. Integrating these three perspectives, this paper elaborates where key antecedents of MNE performance can be expected. Furthermore, this paper reviews empirical research on antecedents of MNE performance published in three top business journals of major importance to the field of international business between 1976 and 2010, thereby synthesizing the most widely accepted knowledge about antecedents of MNE performance.Findings – The paper reveals that theory suggests that key antecedents of MNE performance can be expec...

Research on export performance over the past 10 years: a narrative review

The export marketing literature has been criticised for not developing a widely accepted model of export performance, thereby limiting theoretical advancement in the export performance research field. This paper answers these criticisms by qualitatively reviewing existing research (n = 91) within the last decade to classify and reconcile obtained results, to formulate hypotheses based on the inference of three major theories and finally to provide a comprehensive list of variables influencing the companys export performance. The goal of this narrative review is twofold: to document export performance research within our timeframe and to develop an integrative, dynamic framework explaining the effects of various independent variables and their direction of influence on export performance. The hypotheses point to the conclusion that company, industry and institutional/market factors are major causes for variations in export performance.

Performance Effects of Internationalization Strategies: A Meta-Analysis

Our meta-analysis of 92 international samples, with a total sample size of 8,491, demonstrates that firms following internationalization strategies by means of external growth modes can realize a significant positive performance impact on firm performance (r=0.156). This performance effect is significantly stronger than for firms using external growth strategies in their home country (117 samples, with a total sample size of 29,998, r=0.077). Moderating effects are found for the type of international business combination (mergers and acquisitions versus alliance) and the internationalizing firms region of origin, whereas the relatedness of the firms and the region entered show no moderating impact.

The Mediating Role of Entrepreneurial Orientation in the Task Environment–Performance Relationship

Despite the importance of the external task environment for firm performance, little is known about the mechanisms that enable firms to benefit from a specific environmental setting. The authors argue that firms adjust their entrepreneurial orientation (EO) to the external environment and use it as a mechanism to transform the advantages provided by the environment into above-average performance levels. Specifically, the authors use meta-analysis supplemented by structural equation modeling to explore the links among environmental munificence, hostility, dynamism and complexity, EO, and firm performance in a mediation model. The results suggest that environmental munificence, dynamism, and complexity affect EO and, in turn, firm performance. The authors discuss the meta-analytical findings with respect to their theoretical contribution and their practical implications.

Superior Performance Through Value-based Management

Value-based management provides managers with tools and techniques supporting the development and implementation of value-creating strategies. It further offers incentives which encourage managers to realize only those strategies which create value. In this chapter we present a brief overview of four important concepts of value-based management and of their popularity among the DAX-23 companies. Because of its extreme importance we then portray the EVA/MVA concept of Stern/Stewart in more detail. Moreover, we outline selected applications and techniques of value-based management with reference to strategy development,mergers & acquisitions, and performance management. We substantiate our theoretical discussion with an empirical analysis of the value creation of the DAX-23 companies. Lastly, we evaluate German utility companies’ EVAs and compare them to EVAs of Austrian and Swiss utilities.