دانلود رایگان مقاله انگلیسی شرکت های نوظهور جهانی - حضور، عملکرد و دیدگاه ها - الزویر 2019

ABSTRACT

The concept born global firms has gained a spectacular increase in interest from both academic and political circles. Rigorous quantitative treatment of born global firms are however rare in the international business/ economics literature. Implementing unique data on all Swedish start-ups during 1998–2008 in the manufacturing sector, we conclude that born global firms are a very rare event, that their prevalence seems invariant to time, and that they perform similar to other matched “twin” firms with regard to profitability and productivity but report a considerably higher growth in employment and sales. These results are robust to a wider definition of born global firms and to the timing of performance measurements.

7. Concluding remarks

We present a first attempt towards analyzing how a country’s total stock of born global firms in a given industry has evolved and performed, implementing a carefully designed econometric technique to assess the conceivable counter-factual development, that is, if firms had not adopted born global strategies. This extends previous studies that have predominantly focused on selected cases, survey data or other subsamples on born global firms and complements some recent studies using longitudinal data but different methods to select control groups. No matter which definition of born global firms that is implemented, or which estimation technique or period that is used in the analysis, the results basically remain the same. We conclude that it takes time before strategies to internationalize rapidly pay off in terms of increased productivity and higher profits, whereas a positive effect is obtained for employment and sales. This is confirmed for profitability when we expand the years of the analysis, whereas a more positive effect on productivity is revealed. It is noteworthy that the quantitative effects of choosing a born global strategy decrease when we use the control group of matched firms, in some cases by about 50 percent. This suggests that firms´ adopting global strategies from inception are more likely to be dependent on access to financial resources to cover short- to medium-run costs, such as venture capital, in order to bridge possible losses. That is further supported by the negative impact of size on profitability whereas it is shown to have a positive effect on the other performance variables. Similarly, the negative effect on profitability of having Swedish affiliates indicates management or organizational weaknesses, i.e. rapid growth may strain young and small firms’ resources (compare Freeman et al., 2006).