Foreign market entry decision-making: what do we know so far?

Abstract

The paper proposes a systematic review of the literature on foreign market entry decision-making. The decision-making process in this area is particularly challenging for companies, given the lack of familiarity with an international environment characterized by increasing complexity and, therefore, a high level of uncertainty. The article adopts a systematic approach to reviewing the literature, to investigate the state of research on the topic, as well as the main theoretical approaches and decision-making processes for entering foreign markets. A total of 64 articles published in international business and international marketing journals are examined. The paper proposes a descriptive and thematic analysis of the articles and highlights the main theoretical approaches adopted, the declinations of the concept of uncertainty, and the entry modes as decision-making contexts. Finally, the paper suggests future directions for research.