Authors: João Santos; Manuel Ferreira; Nuno Reis; Sandra Alves
ABSTRACT
The network approach to internationalization of firms has warranted the research focus of many international business scholars. Firms are increasingly involved in international business endeavors and arguably need to learn to adapt to idiosyncratic milieus they encounter in the foreign markets. This paper proposes a conceptual model suggesting that membership in industrial networks strengthens corporate competitiveness in international markets. Network membership provides access to market-related knowledge and a wider array of physical, technical, financial and other tangible resources, and social and reputational endorsement provided by the networks that facilitates adaptation to the various dimensions – economic, political, legal, and cultural – of the international business environments. Membership in social and business networks is likely to improve performance in foreign markets by easing internationalization and reducing firms‟ perceived psychic distance.
Keywords: Networks, internationalization theories, psychic distance.
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Conference: Glasgow, Scotland (2011)