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Title:	The determinants of small-medium firm internationalisation and its effects on productive efficiency
Authors:	Becchetti, Leonardo Santoro, Marika
Issue Date:	Sep-2000
Publisher:	CEIS
Series/Report no.:	Quaderni CEIS; 125
Abstract:	The creation of sale structures abroad (CSSA) is an important intermediate stage in the process of internationalisation when firms are small and foreign direct investments entail high sunk costs. This paper investigates the determinants of this form of internationalisation and its correlation with firm productive efficiency on a large sample of small and medium sized firms for which it represents the most advanced form of access to foreign markets. It finds that ownership concentration (technological innovation, size and age) negatively (positively) affect the CSSA decision and that, after controlling for the effect of access to foreign markets under the form of exports, CSSA firms are significantly more efficient than the control sample when efficiency is measured with a stochastic frontier approach. The result on ownership structure is consistent with the following theoretical interpretations: i) ownership concentration reduces wealth diversification of the control group and leads to...
URI:	http://hdl.handle.net/2108/138
Appears in Collections:	Quaderni

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