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<p>This study investigates the decision criteria that entrepreneurs apply when choosing growth modes to internationalize their business. Specifically, we examine how market characteristics and experience impact the selection of organic, acquisitive, or collaborative growth strategies. Data on 1,080 mode decisions were collected in conjoint experiments and analyzed using hierarchical multinomial logistic regression. We find that barriers to entry and competitive intensity are the most determining market factors, and that international and mode-related experiences have considerable moderating effects. Our findings indicate that imitative behavior and normative preferences are less prevalent in entrepreneurial than in corporate decision-making.</p>

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Roles of Market Characteristics and Experience in Ventures’ International Growth Mode Choice: A Conjoint Experiment

  • 期刊论文

  • 出版模式：

    开放获取

  • 发表日期：

    2025年2月25日

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  • Philipp Ego,
  • Ulrich Pidun

摘要

This study investigates the decision criteria that entrepreneurs apply when choosing growth modes to internationalize their business. Specifically, we examine how market characteristics and experience impact the selection of organic, acquisitive, or collaborative growth strategies. Data on 1,080 mode decisions were collected in conjoint experiments and analyzed using hierarchical multinomial logistic regression. We find that barriers to entry and competitive intensity are the most determining market factors, and that international and mode-related experiences have considerable moderating effects. Our findings indicate that imitative behavior and normative preferences are less prevalent in entrepreneurial than in corporate decision-making.