Abstract
A large number of theoretical publications and empirical studies are devoted to the analysis of the internationalization of companies. Many conceptual frameworks have been adopted to understand this phenomenon. The internationalization of enterprises is a field of research that has shaped several developments in the last decade. Several authors have developed different models with the objective of analyzing factors of international development. This article deals with a literature review of the main models of internationalization. Two typologies of models are analyzed. Models qualified as behavioral and models qualified as Economics. Keywords: Internalization, Economic model, Behavioral model, comparative analysis. JEL Classifications : F11, F20, F21, F2 DOI: https://doi.org/10.32479/irmm.11038
Highlights
The transaction costs approach views internationalization as an attempt to minimize costsand increase internalization (Buckley and Casson, 1998)
There is a division between economic models and behavioral models
Several limitations have been observed with regard to behavioral models as well as the economist models used in this research
Summary
The transaction costs approach views internationalization as an attempt to minimize costsand increase internalization (Buckley and Casson, 1998). Economic models or classic models focus on the economic logic emitted by these models on a company X that wants to internationalize. In this sense, by using basic economic models, an unprecedented logic takes hold and focuses on elements that are almost mathematically sound (Coughlin and Cartwright, 1987). Behavioral models focus on the behavior of human elements within the company and these elements result in decisional and even economic volatility depending on the behavior of each decision-maker within the company who wants to internationalize. The “social preferences,” such as a taste for cooperation, fairness, reciprocity that make us conform to social rules and norms
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