The determinants of international new venture performance: a review and future research agenda

Abstract

PurposeThe purpose of this paper is to critically review and synthesize the articles on determinants of international new venture (INV) performance to identify the research gaps in this area and develop a future research agenda.Design/methodology/approachAdopting a semi-systematic review approach with a fucus on using a vote-counting technique, this paper reviews 99 journal articles published between 1994 and 2019 to assess the determinants of INV performance.FindingsThe results indicate that the majority of the INV performance articles employ a clearly specified theoretical foundation, focus on INVs in developed economies and non-service sectors, identify numerous firm-level determinants of INV performance and use advanced statistical methods (e.g. structural equation modeling and panel data models). However, the research of INV performance is still limited by a lack of a broader integration of theories at different levels, inconsistent theoretical predictions and empirical results, knowledge gaps, and estimation biases (e.g. endogeneity).Originality/valueINV performance has received increasing attention over recent decades, but this area is still characterized by fragmentation and inconsistency. This paper provides a comprehensive and nuanced review that synthesizes and clarifies our current knowledge on the determinants of INV performance, provides further discussion with deeper insights from both theoretical and methodological aspects, and points out some directions for future research.