Abstract
ABSTRACT This paper studies the concept of distance and reviews the three important dimension of distance, namely psychic, cultural and geographic distance. Further this study reviews the impact of all these three distance dimensions and how they affect the ventures of firms in foreign markets. With the help of past studies and few current studies, this study conclude that physical distance is not the only factor which affects the firm in entering into new market but psychic and cultural aspects also tend to influence various costs of venturing and hinder in the way of a firm trying to venture with other firm in different foreign market. Keywords Distance; Distance Dimensions; Psychic Distance; Geographic Distance; Cultural Distance; Ventures; Alliances; Foreign Market; Internationalisation; Globalisation
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