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This study aims to obtain insights based on empirical evidence that identify the key drivers and obstacles that lead companies to (re)/enter markets and distinguish the different paths SMEs take. This also provides deeper insights into internationalisation, success, failure and the potential for the re-internationalisation of the SMEs.

The authors used a qualitative research methodology based on six case studies and with recourse to semi-structured interviews with the senior managers of exporting SMEs.

The results report that SMEs with major investments deployed in their internationalisation processes, through recourse to high levels of bank financing, in association with the COVID-19 pandemic period, were not able to successfully overcome the process of internationalisation and culminating in their own bankruptcies.

This study shows how, despite such failures, the attractiveness and reputation of the brand, supported by the strategic vision and perseverance of new investors (entrepreneurs), enabled the rebirth of the brands and opening the door to their re-entering international markets.

Este estudio pretende obtener perspectivas basadas en pruebas empíricas que identifiquen los motores y obstáculos clave que llevan a las empresas a (re)/entrar en los mercados y distinguir los distintos caminos que siguen las PYME. Asimismo, se profundiza en la internacionalización, el éxito, el fracaso y el potencial de reinternacionalización de las PYME.

Los autores utilizaron una metodología de investigación cualitativa basada en seis estudios de casos y con recurso a entrevistas semiestructuradas con altos directivos de PYME exportadoras.

Los resultados informan de que PYMEs con grandes inversiones desplegadas en sus procesos de internacionalización, a través del recurso a altos niveles de financiación bancaria, en asociación con el periodo de pandemia COVID-19, no fueron capaces de superar con éxito el proceso de internacionalización y culminaron en sus propias quiebras.

Este estudio muestra cómo, a pesar de tales fracasos, el atractivo y la reputación de la marca, apoyados por la visión estratégica y la perseverancia de los nuevos inversores (empresarios), permitieron el renacimiento de las marcas y abrieron la puerta a su reentrada en los mercados internacionales.

Este estudo procura obter insights com base em evidências empíricas que identifiquem os principais drivers e obstáculos que levam as empresas a (re)/entrar nos mercados e distinguir os diferentes caminhos percorridos pelas PME . Isso também fornece insights mais profundos sobre internacionalização, sucesso, fracasso e o potencial para a re-internacionalização das PMEs.

Os autores utilizaram uma metodologia de investigação qualitativa baseada em seis estudos de caso e com recurso a entrevistas semiestruturadas a quadros superiores de PME exportadoras.

Os resultados dão conta de que as PME com grandes investimentos efetuados nos seus processos de internacionalização, através do recurso a elevados níveis de financiamento bancário, em associação com o período de pandemia COVID-19, não conseguiram ultrapassar com sucesso o processo de internacionalização e culminando na sua própria falências.

Este estudo mostra como, apesar de tais falhas, a atratividade e a reputação da marca, apoiadas na visão estratégica e na perseverança de novos investidores (empreendedores), permitiram o renascimento das marcas e abriram as portas à sua reentrada nos mercados internacionais.

This study aims to propose a framework based on the main theoretical and empirical contributions present in the literature and articulate the main paths for future studies in knowledge-intensive entrepreneurship (KIE).

Using the systematic review method from a survey of 85 articles, related to the KIE focal issue, originated from the Web of Science, it was possible to exhaustively analyze the studies and to divide the theme into key categories.

The present research has raised the relationship of five categories to KIE conceptualizations; the data suggest that although the literature indicates a distancing from KIE research, there are multidisciplinary themes and approaches interlinked in the studies.

The systematic approach in the main theoretical and empirical contributions in KIE enabled us to relate five categories (entrepreneurs, innovation, internationalization, location and triple alliance), and finally, to understand the gaps suggested by the researchers.

El objetivo de este estudio es proponer un marco basado en las principales aportaciones teóricas y empíricas presentes en la literatura y articular los principales caminos para estudios futuros en Emprendimiento Intensivo y Conocimiento-EIC.

Una revisión sistemática de 85 artículos, relacionados con el tema focal del EIC, se originó en la Web of Science, permitió analizar exhaustivamente los estudios y dividir el tema en categorías clave.

La presente investigación ha planteado la relación de cinco categorías con las conceptualizaciones EIC; nuestros datos sugieren que aunque la literatura indica un distanciamiento de la investigación EIC, hay temas y enfoques multidisciplinares interrelacionados en los estudios.

El enfoque sistemático en las principales contribuciones teóricas y empíricas en EIC nos permitió relacionar cinco categorías (empresarios, innovación, internacionalización, ubicación y triple alianza) y, finalmente, comprender las brechas sugeridas por los investigadores.

Emprendimiento intensivo en conocimiento, Revisión sistemática, Agenda de investigación

Artículo de investigación

O objetivo deste estudo é propor uma estrutura baseada nas principais contribuições teóricas e empíricas presentes na literatura e articular os principais caminhos para futuros estudos em Empreendedorismo Intensivo em Conhecimento-EIC.

Utilizando o método de revisão sistemática a partir de uma pesquisa de 85 artigos, relacionada à questão focal do EIC originada da Web of Science, foi possível analisar exaustivamente os estudos e dividir o tema em categorias-chave.

A presente pesquisa levantou a relação de cinco categorias para conceituações EIC. Nossos dados sugerem que, embora a literatura indique um distanciamento da pesquisa do EIC, existem temas e abordagens multidisciplinares interligadas nos estudos.

A abordagem sistemática nas principais contribuições teóricas e empíricas do EIC permitiu relacionar cinco categorias (empreendedores, inovação, internacionalização, localização e tripla aliança) e, finalmente, compreender as lacunas sugeridas pelos pesquisadores.

Empreendedorismo intensivo em conhecimento, Revisão sistemática, Agenda de pesquisa

Revisão Geral

Technological entrepreneurship is distinguished from other types of initiatives by its innovative characteristics and rapid growth, as well as by the high uncertainty it faces, both in terms of investment cost and capacity for continuous adaptation. The purpose of this study is to investigate the definitions, measures and methods that have been used to investigate the phenomenon and to define the process of the “entrepreneurial journey” and the associated typologies according to the technological level.

This paper provides a systematic review of the literature on technological entrepreneurship focusing on emerging economies in Latin America. Based on the review of 62 papers, it analyses the current state and future research perspectives on the topic.

The authors can conclude that technological entrepreneurship in Latin America has great opportunities, especially linked to growth, but faces the threats of an uncertain and dynamic environment. Taking advantage of technologies allows the formulation of unique value propositions linked to the environment through innovation that improves the quality of life of the population.

This study is a starting point for the development of research on resilient technology ventures. Latin America represents a limited location but offers insight into the developing phenomenon to measure the impacts that this phenomenon generates in society.

Considering the possibilities offered by technology and its continuous evolution, the impact that this type of entrepreneurship generates on the environment can be on a global scale. However, high growth and success are as likely as a failure and this is part of the improvement process.

El emprendimiento tecnológico se distingue de otros tipos de iniciativas por sus características innovadoras y su rápido crecimiento, así como por la elevada incertidumbre a la que se enfrenta, tanto en términos de coste de inversión como de capacidad de adaptación continua. El objetivo es investigar las definiciones, medidas y métodos que se han utilizado para investigar el fenómeno y definir el proceso del “viaje emprendedor” y las tipologías asociadas según el nivel tecnológico.

Este artículo ofrece una revisión sistemática de la literatura sobre emprendimiento tecnológico centrada en las economías emergentes de América Latina. A partir de la revisión de 62 artículos, se analiza el estado actual y las perspectivas futuras de investigación sobre el tema.

Al comparar nuestros hallazgos con los trabajos existentes, podemos concluir que el emprendimiento tecnológico en América Latina tiene grandes oportunidades, especialmente vinculadas al crecimiento, pero se enfrenta a las amenazas de un entorno incierto y dinámico. El aprovechamiento de las tecnologías permite formular propuestas de valor únicas vinculadas al entorno a través de la innovación que mejora la calidad de vida de la población.

Considerando las posibilidades que ofrece la tecnología y su continua evolución, el impacto que este tipo de emprendimiento genera en el entorno puede llegar a ser a escala global. Sin embargo, el alto crecimiento y el éxito son tan probables como el fracaso y esto forma parte del proceso de mejora.

Este estudio es un punto de partida para el desarrollo de investigación acerca de emprendimientos tecnológicos resilientes. Latinoamérica representa una locación límitada pero ofrece una visión del fenómeno en desarrollo para medir los impactos que este fenómeno genera en la sociedad.

Emprendimiento tecnológico, América Latina, Innovación, Tecnología, Internacionalización

Revisión de literatura

O empreendedorismo tecnológico distingue-se de outros tipos de iniciativas pelas suas características inovadoras e rápido crescimento, bem como pela elevada incerteza que enfrenta, tanto em termos de custo de investimento como de capacidade de adaptação contínua. O objectivo é investigar as definições, medidas e métodos que têm sido utilizados para investigar o fenómeno e definir o processo da “viagem empresarial” e as tipologias associadas de acordo com o nível de tecnologia.

Este artigo fornece uma revisão sistemática da literatura sobre empreendedorismo tecnológico centrada nas economias emergentes da América Latina. Com base na revisão de 62 artigos, analisa o estado actual e as perspectivas futuras da investigação sobre o tema.

Comparando as nossas conclusões com o trabalho existente, podemos concluir que o empreendedorismo tecnológico na América Latina tem grandes oportunidades, especialmente ligadas ao crescimento, mas enfrenta as ameaças de um ambiente incerto e dinâmico. O aproveitamento das tecnologias permite a formulação de propostas de valor únicas ligadas ao ambiente através da inovação que melhora a qualidade de vida da população.

Considerando as possibilidades oferecidas pela tecnologia e a sua contínua evolução, o impacto que este tipo de empreendimento gera no ambiente pode ser à escala global. No entanto, um crescimento e sucesso elevados são tão prováveis como um fracasso e isto faz parte do processo de melhoria.

Este estudo é um ponto de partida para o desenvolvimento da investigação em empreendimentos de tecnologia resiliente. A América Latina representa uma localização limitada, mas oferece uma visão do fenómeno em desenvolvimento a fim de medir os impactos que este fenómeno gera na sociedade.

Empreendedorismo tecnológico, América Latina, Inovação, Tecnologia, Internacionalização

Revisão da literatura

The purpose of this paper is to analyze the strategies and organizational forms used by large Brazilian pharmaceutical companies (LBPCs) in interaction with universities for the development of innovation.

In the pharmaceutical industry, a science-based sector, the source of new knowledge is often outside the company environment. Thus, the search for innovation depends on the company’s strategic decisions of cooperation. This research uses the case study method, with secondary data from the 2008, 2011 and 2014 Innovation Survey (Pintec) about the innovative efforts of LBPCs, as well as primary data from semi-structured interviews with six of them.

The most recent data on innovation in Brazil show changes in the innovative efforts of LBPCs, involving the raise in the interaction with universities. The results of the field research also show that the LBPCs have differentiated innovative structures and are effectively using strategies for partnerships with universities, through the creation of radical innovation departments, the establishment of internal scientific committees and the internationalization of research and development.

These findings contribute to the literature on the industry-university interactions in Brazil and in developing countries. However, this analysis cannot be generalized for the Brazilian pharmaceutical industry as it uses the case study method. Moreover, it is too early to determine if the identified strategies were successful. Nonetheless, it is worth mentioning that the strategies of the six interviewed companies differ greatly from the patterns of the Brazilian pharmaceutical industry and the manufacturing industry.

El objetivo de este artículo es analizar las estrategias y estructuras organizacionales de las grandes empresas farmacéuticas brasileñas (GEFBs) en la interacción con universidades para el desarrollo innovador. En la industria farmacéutica, un sector basado en la ciencia, la fuente del conocimiento suele estar fuera del ambiente de la empresa. Por lo tanto, la búsqueda de la innovación depende de las decisiones estratégicas de cooperación de la empresa.

Esta investigación utiliza el método de estudio de caso, a partir de datos secundarios de la Encuesta de Innovación (Pintec) de 2008, 2011 y 2014 sobre los esfuerzos innovadores de las GEFBs, así como datos primarios de entrevistas semiestructuradas con seis de ellas.

Los datos más recientes sobre innovación en Brasil muestran cambios en los esfuerzos innovadores de las GEFBs, incluyendo ampliación de la interacción con universidades. Los resultados de la investigación de campo también indican que las GEFBS poseen estructuras innovadoras diferenciadas y están aplicando estratégicas de alianzas con universidades, por la creación de departamentos de innovación radical, por el establecimiento de comités científicos internos y por la internacionalización de la investigación e innovación.

Este análisis no puede ser generalizado para la industria farmacéutica brasileña por utilizar el método de estudio de caso. Además, es muy temprano para determinar si las estrategias identificadas obtuvieron éxito.

Estrategias empresariales, interacción universidad-empresa, Brasil

Estudio de caso

Estos resultados contribuyen a la literatura sobre interacciones universidad-empresa en Brasil y en países en desarrollo. Asimismo, debe ser mencionado que las estrategias de las seis empresas entrevistadas difieren considerablemente de los padrones de la industria farmacéutica y de la industria de transformación brasileñas.

O objetivo deste artigo é analisar as estratégias e estruturas organizacionais das grandes empresas farmacêuticas brasileiras (GEFBs) na interação com universidades para o desenvolvimento inovativo. Na indústria farmacêutica, um setor baseado em ciência, a fonte do conhecimento costuma estar fora do ambiente da empresa. Portanto, a busca pela inovação depende das decisões estratégicas de cooperação da empresa.

Esta pesquisa utiliza o método de estudo de caso, a partir de dados secundários da Pesquisa de Inovação (Pintec) de 2008, 2011 e 2014 sobre os esforços inovativos das GEFBs, assim como dados primários de entrevistas semiestruturadas com seis delas. Os dados mais recentes sobre inovação no Brasil mostram mudanças nos esforços inovativos das GEFBs, incluindo a ampliação da interação com universidades.

Os resultados da pesquisa de campo também indicam que as GEFBs possuem estruturas inovativas diferenciadas e estão efetivamente aplicando estratégicas de parcerias com universidades, pela criação de departamentos de inovação radical, pelo estabelecimento de comitês científicos internos e pela internacionalização da pesquisa e inovação.

Esta análise não pode ser generalizada para a indústria farmacêutica brasileira por utilizar o método de estudo de caso. Ademais, é muito cedo para determinar se as estratégias identificadas obtiveram sucesso.

Esses resultados contribuem para a literatura sobre interações universidade-empresa no Brasil e em países em desenvolvimento. Outrossim, deve ser mencionado que as estratégias das seis empresas entrevistadas diferem consideravelmente do padrão da indústria farmacêutica e da indústria de transformação brasileiras.

Estratégias empresariais, interação universidade-empresa, indústria farmacêutica, Brasil

Estudo de caso

This study aims to analyse the relationship between the internationalisation performance of the company and, on the one hand, the factors that determine the internationalisation strategy and, on the other hand, the factors considered as inducers of this internationalisation process. The purpose of this study is to relate the determinants and inducing factors of the internationalisation process with the performance of internationalised companies, trying to assess how these determinants and these factors contribute to better performance.

The authors sent out a questionnaire to Portuguese exporting companies, containing questions regarding determinant factors associated with both the characteristics of origin market and target market of the internationalisation process and internationalisation inducing factors. The questionnaire results were subjected to a regression analysis.

The results indicate a positive relationship with the characteristics of the domestic market, more specifically with the need to reduce and diversify risk and the need to win new markets and consumers. Regarding the characteristics of the foreign market, there is a positive relationship with the determinants: follow customers and favourable perspectives of growth in the new market. In relation to the internationalisation inducing factors, those factors that the entrepreneur recognises as the triggers of the internationalisation strategy, the researchers found the existence of a positive relationship with formal and informal contact networks, as well as specific employee skills, international experience and strong propensity for entrepreneurship and risk-taking.

This study presents some limitations. On the one hand, the fact that the authors used the questionnaires, which seemed to be the most adequate approach, brings as a drawback the reduced number of answers. Further collection is in order to increase the sample under study. On the other hand, the literature presents different approaches that may be tested as well as the possibility of including other types of variables that the researchers will address in future studies.

By analysing the relationship between company performance in the internationalisation process and the factors that determine and induce this internationalisation process, this study seeks to identify which factors entrepreneurs should favour and strengthen to obtain a better performance in the internationalisation process. In addition, the authors use the concept of inducing factors that represent the firm's characteristics that trigger the internationalisation strategy. In a complementary perspective, the authors intend to contribute to the identification of the factors that new Portuguese entrepreneurs should pay more attention to, when starting their internationalisation process and that will improve their performance.

States that owing to foresight and planning by Portuguese business executives, most firms in Portugal survived the difficult 1970s and 1980s and, as a consequence, are stronger in today’s competitive internal and external challenges. Sets out the methodology used and gives data analysis and results in a descriptive way, with the use of explanatory tables. Closes by stating that time‐based differentiation may offer new ways for firms competing in highly differentiated markets.

This paper aims to investigate the influence of a corporate global mindset and international experience on the internationalization process of Brazilian franchisors. The purpose is to study the role played by global mindset in the internationalization process of franchisors from an emerging country by answering the question: What is the impact of a global mindset on the level of internationalization?

A survey of 104 companies was conducted with franchise managers to compare Brazilian (domestic-only and internationalized) franchisors to foreign franchisors with operations in Brazil. The collected data were analyzed through descriptive statistics, ANOVA and regression analysis.

Results showed that the firm’s experience in international markets (measured as the number of years in foreign countries) has a positive relation to corporate global mindset. Developing a corporate global mindset should help Brazilian franchises to grow internationally. The findings indicate that Brazilian franchisors fall behind their foreign counterparts in international experience, which affect the skills, knowledge, disposition and organizational structure needed to be successful outside their home market.

Franchisors who decide to internationalize should carefully consider the need for developing a global mindset, especially in terms of investing in communication technologies, adequate human resources and an organizational structure to support international operations.

This research contributes to the international franchising literature by exploring the role of a global mindset in the context of franchises from an emerging market. Using a multidimensional concept of corporate global mindset, comprised of global orientation, global knowledge and global skills, this study adds an aspect of international franchising beyond institutional and economic explanations.

This paper aims to analyze how the Brazilian and Chinese outward foreign direct investment (OFDI) policies can contribute to the economic development of their home countries.

The aforementioned objective is achieved through a comparative analysis of the Brazilian and Chinese OFDI policies within a new theoretical framework for examining the developmental implications of OFDI. Both primary and secondary data are utilized to compare Brazilian and Chinese strategies.

It was concluded that Brazil and China have shifted from a development strategy centered on internal market self-sufficiency to one that seeks international economic prominence by, among other strategies, adopting OFDI support as a part of their industrial policy agenda. However, while the Chinese Government has focused on cross-national acquisitions of assets that are scarce within the country, the Brazilian Government has preferred to support industries that are already highly competitive internationally. The Chinese strategy has a greater potential to generate positive spillovers to domestic economy.

This paper ends with recommendations on how Brazil, in particular, and emerging economies, in general, may improve their OFDI policies.

The contribution of this paper to the existent literature relies both on its approach and on its theoretical framework. Differing from the majority of the studies on the internationalization of companies from emerging economies, this paper emphasizes the importance of industrial policies to support OFDI and the developmental dimension of these policies. The authors believe that the theoretical framework developed here can be extended to further analysis of OFDI policies from other emerging economies. Policymakers may also benefit from the conclusions of this research.

The purpose of this paper is to analyze the determinants of the internationalization of small‐ and medium‐sized enterprises (SMEs). More specifically, it is to test the effects of entrepreneurship and networking relationship on the internationalization pattern of SMEs from an emerging economy, Brazil.

The study was designed to be qualitative, using a sample of three companies from the manufacturing industries, with significant involvement in foreign markets.

The study has shown that the importance of entrepreneurs and network relationship are important factors for the understanding of the internationalization's pattern of SMEs. Furthermore, the performance of internationalization depends largely on the ability of companies to relate innovative and proactive international behavior to learning's process through the maintenance of national and international networking.

Most empirical studies have been concentrated to evaluate and address this phenomenon of SMEs internationalization based on the experiences of developed countries. Although there is a growing interest on the internationalization of SMEs in less developed countries, they are still very limited empirical studies in this field. This research intends to fill this gap in two manners. First, in terms of focusing more specifically on the internationalization of the case of companies from a developing country, using a qualitative multi case analysis. Second, using a framework, which relates entrepreneurship and networking and how they affect the internationalization's strategy of SMEs.

The internationalization of local Brazilian firms is a very recent phenomenon, especially when considered in terms of the accelerated growth in the number of Brazilian‐owned multinational companies and the intensity of foreign investment that began in the year 2000. While the specialized literature has focused increasing attention on this new trend, the profound transformation of Brazilian production during the 1990s remains a challenging theme for researchers. This paper aims to analyze the changes undertaken by Brazilian firms in pursuit of competitiveness.

The data utilized were furnished by the Institute for Applied Economic Research, a governmental think tank, that has combined and expanded upon the main Brazilian databases that provide reliable information about industrial firms: the Annual Survey of Industry carried out by the Brazilian Institute of Geography and Statistics (IBGE); the Annual Social Information Report, conducted by the Ministry of Labor and Employment; the Foreign Trade Secretariat, under the Ministry of Development, Industry and Foreign Trade, and the Industrial Survey of Technological Innovation also sponsored by the IBGE. This procedure allows to access extremely wide‐ranging analyses covering businesses responsible for more than 90 percent of value added by Brazilian industry.

The principal finding of this paper indicates that enormous changes in business strategy occurred in the 1990s, modifying Brazilian companies' historical orientation towards the internal market. Significant increases in exports and outward foreign direct investment, consequently led a significant group of Brazilian companies to compete in more sophisticated markets. These new strategies of internationalization are supported by these companies' systematic pursuit of innovative processes. Aggregate data from internationalizing companies show that the most advanced group, characterized in this paper as “A‐class companies,” exhibit a standard of competitiveness, salaries, investment in R&D and new product launches found only in Brazil within the local subsidiaries of foreign multinationals.

Various studies have attempted to capture the difficulties and barriers that the Brazilian economy faced at the beginning of economic liberalization. Despite their differences, most of the analyses are confined at the macro level and make the ease and rapid expansion of internationalizing companies a surprising observation. In contrast, this paper emphasizes microeconomic factors and argues that the changes that occurred throughout the 1990s within the structure and strategies of Brazilian businesses were for the most part overshadowed by macro visions (especially those focused on fighting inflation). To capture these changes, especially those that had an impact on improved competitiveness, a new methodological approach has been designed.