This article aims to identify the relationship between the Affordable Loss Principle and International Orientation, moderated by psychic distance. Examining this relationship provides insights into entrepreneurs' decision-making processes and risk tolerance in international ventures. The analysis of small and medium-sized enterprises highlights particular nuances, while recent research suggests employing the effectuation process lens for understanding entrepreneurial decisions in an international orientation. With this study, we want to contribute to practical strategies for small and medium-sized companies and advance theoretical frameworks, bridging the gap between entrepreneurship theory and international business studies. This understanding is essential to promote international entrepreneurship, foster new business creation, and contribute to economic development.

SMEs are increasingly being enticed by overseas expansion opportunities. In this context, alliances are a feasible strategic option for SMEs. Yet, studies looking at how some soft issues (e.g. local legitimacy) affect the SME entry strategy into emerging markets are scarce. This is particularly the case regarding the SME’s potential for alliances with local firms. We propose a conceptual model and proposition regarding the effect of local legitimacy on alliance formation. More specifically, we look at the effect of local legitimacy in attracting a suitable alliance partner We provide implications for practitioners and policy makers.

The study aims to investigate the relationship between the liability of foreignness (LOF), business model adaptation and performance outcomes of Russian small and medium-sized enterprises (SMEs) with international operations in the post-2022 environment. The research poses two research questions: How does the liability of foreignness affect company performance? What is the role of business model adaptation in the relationship between the liability of foreignness and performance outcomes of Russian companies with international operations in the post-2022 environment? The analysis using structural equation modeling (SEM) revealed that LOF has a significant negative impact on company performance. At the same time, LOF positively affects business model adaptation, indicating that companies adapt their business models in response to challenges related to foreign status. In turn, it was found that business model adaptation mitigates the negative impact of LOF on company performance, suggesting that SMEs that adapt their business models are better able to cope with the negative consequences of foreign status. Additionally, the study showed that LOF increases with the company's international experience, and Russian companies with international operations in countries included in the list of countries that joined sanctions are more likely to face the effects of LOF.

The Nordic region has the potential to become a hub for space innovation in Europe, with an

ecosystem of startups and established companies pushing the boundaries of satellite technology,

space exploration, and space-based applications. This region has a long tradition for space research

and exploration, dating back to the 1960’s with Denmark and Sweden. However, small space firms

in this region face various challenges to internationalize. Strict regulations, international and

national laws covering technology development, satellite launches and operations, pose challenges

for small firms to expand globally beyond the startup phase. Additionally, the high capital and

technology costs makes it difficult for these firms to internationalize. Despite these challenges,

there are promising opportunities for these firms to grow and internationalize. The goal of this

study is to understand the internationalization process for these space firms and present a model

of the internationalization processes. This paper employs qualitative research methodology,

combining interviews, case studies, and literature analysis.

Abstract: The aim of this chapter is to light how the relationship between firms’ internationalization and environmental responsibility. We expected firms with export activities might adopt proactive environmental strategies, eco-innovation plans, and improve environmental performance. A sample of 100 exporting Ecuadorian SMEs was used to test these relationships. The results show that export ratio does not influence or have a significant relationship with the adoption of environmental strategies, eco-innovation plans, and environmental performance. However, top management commitment and organizational learning capability have shown a positive link with the three dependent variables.