Internationalization through investor, advisory board, and accountant networks: an exploratory study of Australian SMEs
This study investigates the likely effect of three different types of external network ties (external investors, advisory boards, and external accountants) on the likelihood of small and medium enterprises (SMEs) to venture beyond their domestic market. We explore whether Australian SMEs, which are typically constrained by limited resources, are willing to not only use internal knowledge and networks of the owner-manager and the top management team, but also leverage the external knowledge and networks of other partners within their value chain in enhancing internationalization. We find evidence that SMEs prefer to access the networks and resources of external investors and their advisory boards but not their external accountants for internationalization. We suggest that there are important roles for policy makers and industry groups to help facilitate SMEs in developing these networking strategies further to enhance the internationalization process.