Beating competitors to international markets: The value of geographically balanced networks for innovation

P.C. Patel (Corresponding Author), S.A. Fernhaber, P.P. McDougall-Covin, Robert van der Have

    Research output: Contribution to journalArticleScientificpeer-review

    42 Citations (Scopus)

    Abstract

    Being able to launch new products internationally is critical for technology-based ventures to recoup the high costs of R&D and to exploit their innovations fully. Despite the widely recognized importance of networks within the innovation development process, there appear to be contrasting viewpoints as to whether local or foreign network partners contribute more in the race to internationalize. Drawing on the theoretical underpinnings of comparative advantage, we propose and empirically confirm that ventures pursuing a balance of local and foreign network connections for the development of an innovation are able to bring the product more rapidly into the international marketplace. Furthermore, both innovation complexity and industry clockspeed heighten the importance of geographic network balance to the speed of product internationalization.
    Original languageEnglish
    Pages (from-to)691-711
    JournalStrategic Management Journal
    Volume35
    Issue number5
    DOIs
    Publication statusPublished - 2014
    MoE publication typeA1 Journal article-refereed

    Fingerprint

    Competitors
    Innovation
    International markets
    Venture
    Internationalization
    Development process
    Industry
    Costs
    Comparative advantage
    New products

    Keywords

    • internationalisation
    • ventures
    • innovation
    • network balance
    • clockspeed

    Cite this

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    title = "Beating competitors to international markets: The value of geographically balanced networks for innovation",
    abstract = "Being able to launch new products internationally is critical for technology-based ventures to recoup the high costs of R&D and to exploit their innovations fully. Despite the widely recognized importance of networks within the innovation development process, there appear to be contrasting viewpoints as to whether local or foreign network partners contribute more in the race to internationalize. Drawing on the theoretical underpinnings of comparative advantage, we propose and empirically confirm that ventures pursuing a balance of local and foreign network connections for the development of an innovation are able to bring the product more rapidly into the international marketplace. Furthermore, both innovation complexity and industry clockspeed heighten the importance of geographic network balance to the speed of product internationalization.",
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    Beating competitors to international markets : The value of geographically balanced networks for innovation. / Patel, P.C. (Corresponding Author); Fernhaber, S.A.; McDougall-Covin, P.P.; van der Have, Robert.

    In: Strategic Management Journal, Vol. 35, No. 5, 2014, p. 691-711.

    Research output: Contribution to journalArticleScientificpeer-review

    TY - JOUR

    T1 - Beating competitors to international markets

    T2 - The value of geographically balanced networks for innovation

    AU - Patel, P.C.

    AU - Fernhaber, S.A.

    AU - McDougall-Covin, P.P.

    AU - van der Have, Robert

    N1 - Project code: 35827

    PY - 2014

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    KW - internationalisation

    KW - ventures

    KW - innovation

    KW - network balance

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