The Uppsala process theory of internationalization predicts an ever increasing international presence and foreign involvement through slow and iterative state changes. We study the reasons behind the rise to global dominance of a set of four relatively small manufacturing firms, through a comparative case study of fast and slow internationalization. We follow their internationalization journey and observe an increase in involvement without a matching growing international footprint: global consumer knowledge is decoupled from a local presence. Nonetheless, the firms’ internationalization paths were marked by slow and iterative adaptations to their business model and therefore their international value proposition. Our findings have implications on how we look at the Uppsala model and on our understanding of what it can and cannot explain and predict, extending its scope to include a business model view of the internationalization process.

The literature on diversification has largely focused on firm-side characteristics, neglecting stakeholder-side influences and missing the “micro-mechanism” through which diversification adds or subtracts value. To fill these gaps, this study explores how emerging market categorizations influence investor and analyst reactions to product diversification. By analyzing 1,700 US-listed manufacturing firms from 2004 to 2016, we found that the negative relationship between diversification and market value is mitigated for firms categorized as emerging markets, particularly those from core emerging markets. Our study extends category theory by focusing on institutional-based market categories and underscores the role of audience evaluation in international business settings.

This research investigates the influence of state ownership on internationalization. By conducting a comprehensive meta-analysis of 234 primary studies, we aim to clarify the unclear relationship between State ownership and internationalization found in existing literature. Our findings indicate that state ownership generally has a negative impact on internationalization, with State-owned enterprises showing a preference for collaborative entry modes such as joint ventures over non-collaborative modes like wholly-owned subsidiaries and exports. This study provides valuable insights to the theory of State-owned enterprises internationalization, unveiling the role of governments in international entry mode decisions.

Understanding the varied behaviors of new internationalizers enhances the ability to predict and analyze the key factors influencing internationalization more effectively. This research addresses a significant gap in both empirical and theoretical perspectives by investigating how the risk variable influences early internationalisation trajectories. While existing literature often neglects the dynamic aspects of risk, this study emphasizes its crucial role. Utilizing data from 394 new exporters, we employ the Latent Trajectory Model to examine the changes in efficiency, international engagement, speed of internationalization, geographic diversification, profitability, and risk over time. Our analysis identifies and classifies four unique internationalization pathways: 'Risk Expectant,' 'Risk Maximizer,' 'Risk Control,' and 'Risk Reactive.' Each pathway displays distinct patterns during the early stages of internationalization. The results provide a comprehensive understanding of the effects of risk on internationalization strategies and outcomes. This research offers managers, investors, and policymakers valuable insights by illustrating the relationship between risk and key performance

This study investigates the de-internationalization process of born global (BG) firms, specifically examining how a reduction in geographic scope affects the international scale in the remaining foreign markets. Our research addresses two key questions: (1) Does the reduction of a BG's scope impact its scale in remaining foreign countries? (2) How do various distances (psychic, market size, and technological) moderate this relationship? Drawing on a sample of BGs from the Italian high-tech cluster "Tiburtina Valley," we conducted a longitudinal analysis over three periods: 2010, 2015, and 2021. Our findings suggest that a decrease in geographic scope can positively impact the scale of remaining international activities, as measured by export value and the number of foreign customers. This phenomenon is driven by the efficient allocation of resources, allowing BGs to concentrate on fewer but more profitable markets. Furthermore, the study reveals that psychic, market size, and technological distances play significant moderating roles. The positive effects of de-internationalization strategy on the international scale is lower when the remaining countries are more psychic and technological distant. This research contributes to the literature on BGs by highlighting the non-linear and intermittent nature of their internationalization process, challenging the assumption of its persistency.