This study explores the exporting-performance (EP) relationship by analysing a sample of 546Italian manufacturing SMEs for the period 2009-2011. We hypothesize a positive relationshipbetween export intensity and profitability: the data support this hypothesis, verified by an OLSregression in which we control for past performance, size, age, leverage and industry and weintroduce capital intensity and intangible assets intensity as explanatory variables in light of a RBVapproach.Our verified second hypothesis concerns the negative moderating effect of capital intensity on therelationship between exporting and profitability: for firms with a low level of capital intensityincreasing exporting intensity is beneficial, while firms with a greater stock of technical assets donot experience a positive marginal “learning-by-exporting” effect; this results have relevantpractical implications as they indicate that less structured SMEs can benefit more from exportingthan those with higher capital intensity.
Internationalisation and performance of SMEs: exploring the moderating effects of intangible assets and capital intensity
CANTELE, SILVIA;CAMPEDELLI, Bettina
2016-01-01
Abstract
This study explores the exporting-performance (EP) relationship by analysing a sample of 546Italian manufacturing SMEs for the period 2009-2011. We hypothesize a positive relationshipbetween export intensity and profitability: the data support this hypothesis, verified by an OLSregression in which we control for past performance, size, age, leverage and industry and weintroduce capital intensity and intangible assets intensity as explanatory variables in light of a RBVapproach.Our verified second hypothesis concerns the negative moderating effect of capital intensity on therelationship between exporting and profitability: for firms with a low level of capital intensityincreasing exporting intensity is beneficial, while firms with a greater stock of technical assets donot experience a positive marginal “learning-by-exporting” effect; this results have relevantpractical implications as they indicate that less structured SMEs can benefit more from exportingthan those with higher capital intensity.
| File | Dimensione | Formato | |
|---|---|---|---|
|
2016_IJBG.pdf
non disponibili
Tipologia:
Altro materiale allegato
Licenza:
Accesso ristretto
Dimensione
718.95 kB
Formato
Adobe PDF
|
718.95 kB | Adobe PDF | Visualizza/Apri Richiedi una copia |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
