6 Limitations and Directions for Further Research
The fndings contribute to previous calls for analyses that include longitudinal information and frms from diferent industries, but this study has some limitations that point to areas for further research. First, our impact analysis is concentrated on exporting, the most common foreign market entry method. However, it does not explore the efects of MGO in relation to other foreign entry strategies, such as foreign direct investment, licensing, and joint ventures. Future studies could explore the impact of managers’ global orientation in the decision to enter into foreign markets through high investment/risk strategies such as production subsidiaries, and the management and proftability of those foreign establishments. Second, further research could assess the extent of the impact of MGO in listed large multinationals’ strategies and performance, by measuring the levels of global orientation of the entire top management team and the potentially moderating role of middle managers (Li 2017). For such companies, the combination of features from top and middle managers may play a major role in their international and overall economic performance.