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| Research on the Impact of the Internationalization Rhythm on Firm Performance |
| ZHANG Zhen’gang，HU Antao， ZHANG Junqiu |
| 1. South China University of Technology, Guangzhou, China；2. Guangzhou Digital Innovation Research Center, Guangzhou, China |
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Abstract From the dynamic perspective with time dimension, the research on the relationship between the internationalization rhythm and firm performance is relatively deficient. Combining absorptive capacity theory and the institution-based view, this study establishes a contingency model of the relationship among the internationalization rhythm, institutional environment and firm performance. The findings of empirical evidence of Chinese listed firms have shown that there is a significantly negative relationship between an irregular and incoherent internationalization rhythm and firm performance, and the degree of marketization weakens the negative influence of internationalization rhythm on firm performance, while the economic policy uncertainty increases the negative correlation between them. In view of the further test of influencing mechanism and firm heterogeneity, it is found that absorptive capacity plays a partial mediating effect, and compared with large firms, state-owned firms and non-high-tech firms, the negative impact of irregular internationalization rhythm on firm performance could be alleviated in small and medium enterprises (SMEs), private firms and high-tech firms to a certain extent.
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Received: 10 August 2020
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