In recent years, the concept of business models has gained substantial attention in strategic management literature, as researchers and management practitioners realize that business model is the primary mechanism for value creation and appropriation by firms in a market economy. As such, a...

One of the main challenges for scholars studying micro-level international expansion is to identify new proxies for firm-specific advantages (FSAs), in lieu of - or in addition to - strengths in R&D/patents and advertising/brand names, and to predict which firms are most likely to engage earlier...

Purpose Good companies innovate. In the process, they consider target markets, target customers, new product or service offerings, and the positioning of these relative to competitors. This forms a basic strategy for the innovation. However, the lesson of competitive dynamics today is that...

Purpose – The aim of the article is to establish robust linkages between internalization theory and the empirical phenomenon of international new ventures (INVs). Here, the focus is on firm-specific advantages (FSAs) critical to early new venture internationalization....

Transaction Cost Economics (TCE) as developed by Williamson, builds upon two behavioral assumptions: bounded rationality and opportunism. TCE studies governance mechanisms that “organize transactions so as to economize on bounded rationality while simultaneously safeguarding them against the...