Author:
Miklós Stocker Corvinus University of Budapest, Hungary

Search for other papers by Miklós Stocker in
Current site
Google Scholar
PubMed
Close
Open access

There is a growing debate in the literature about International New Ventures (INV). Survival of INVs – along with their growth and financial performance – seems to be an interesting phenomenon, but it has only been tackled in a small sample of studies. This study examines Hungarian INVs and some of their key characteristics in the years 2009–2014. The Hungarian Corporate Tax Database was used to analyse the entire population of Hungarian companies during that period. The database consists of 385,723 companies in 2009 and 422,500 companies in 2014, and comprises the whole Hungarian private sector. Of these companies, 6,547 can be identified as INVs in the period under analysis. In this paper, the survival, growth, and business performance characteristics of Hungarian INVs are examined. Hungarian INVs recorded an exceptionally high survival rate; after five business years, 70% of the INVs remained in business, but nearly half of them withdrew to the home market, which means that only 35% of the Hungarian INVs became Sustainable International New Ventures (SINVs). Hungarian SINVs employed on average about 25 employees, registered extremely high (around 75%) export intensity, had steadily growing earnings and equity (43.6% and 56.3% mean CAGR), showed a stable return on equity of about 10% after their first year in existence, and created added value of approximately 37,000 EUR per employee.

  • Autio, E.Sapienza, H. J.Almeida, J. G. (2000): Effects of Age at Entry, Knowledge Intensity, and Imitability on International Growth. Academy of Management Journal 43(5): 909924.

    • Search Google Scholar
    • Export Citation
  • Caves, R. E. (1998): Industrial Organization and New Findings on the Turnover and Mobility of Firms. Journal of Economic Literature 36(4): 19471982.

    • Search Google Scholar
    • Export Citation
  • Deng, Z.Guo, H.Zhang, W.Wang, C. (2014): Innovation and Survival of Exporters: A Contingency Perspective. International Business Review 23(2): 396406.

    • Search Google Scholar
    • Export Citation
  • Gerschewski, S.Xiao, S. S. (2015): Beyond Financial Indicators: An Assessment of the Measurement of Performance for International New Ventures. International Business Review 24(4): 615629.

    • Search Google Scholar
    • Export Citation
  • Johanson, J.Vahlne, J. E. (1977): The Internationalization Process of the Firm – A Model of Knowledge Development and Increasing Foreign Market Commitments. Journal of International Business Studies 8(1): 2332.

    • Search Google Scholar
    • Export Citation
  • Johanson, J.Vahlne, J. E. (2009): The Uppsala Internationalization Process Model Revisited: From Liability of Foreignness to Liability of Outsidership. Journal of International Business Studies 40(9): 14111431.

    • Search Google Scholar
    • Export Citation
  • Klepper, S. (2002): Firm Survival and the Evolution of Oligopoly. RAND Journal of Economics 33(1): 3761.

  • Mudambi, R.Zahra, S. A. (2007): The Survival of International New Ventures. Journal of International Business Studies 38(2): 333352.

    • Search Google Scholar
    • Export Citation
  • Oviatt, B. M.McDougall, P. P. (1994): Toward a Theory of International New Ventures. Journal of International Business Studies 25(1): 4564.

    • Search Google Scholar
    • Export Citation
  • Puig, F.González-Loureiro, M.Ghauri, P. N. (2014): Internationalisation for Survival: The Case of New Ventures. Management International Review 54(5): 653673.

    • Search Google Scholar
    • Export Citation
  • Sapienza, H.Autio, E.George, G.Zahra, S. (2006): The Effect of Early Internationalization on Firm Profitability and Growth. Academy of Management Review 31(4): 914933.

    • Search Google Scholar
    • Export Citation
  • Zahra, S.Ireland, D. R.Hitt, M. (2000): International Expansion by New Venture Firms: International Diversity, Mode of Market Entry, Technological Learning and Performance. Academy of Management Journal 43(5): 925950.

    • Search Google Scholar
    • Export Citation
  • Zahra, S. A. (2005): A Theory of International New Ventures: A Decade of Research. Journal of International Business Studies 36(1): 2028.

    • Search Google Scholar
    • Export Citation
  • Zimmerman, M.Zeitz, G. (2002): Beyond Survival: Achieving New Venture Growth by Building Legitimacy. Academy of Management Review 27(3): 414431.

    • Search Google Scholar
    • Export Citation
  • Collapse
  • Expand

Editor-in-chief: Balázs SZENT-IVÁNYI

Co-Editors:

  • Péter MARTON (Corvinus University, Budapest)
  • István KÓNYA (Corvinus University, Budapest)
  • László SAJTOS (The University of Auckland)
  • Gábor VIRÁG (University of Toronto)

Associate Editors:

  • Tamás BOKOR (Corvinus University, Budapest)
  • Sándor BOZÓKI (Corvinus University Budapest)
  • Bronwyn HOWELL (Victoria University of Wellington)
  • Hintea CALIN (Babeş-Bolyai University)
  • Christian EWERHART (University of Zürich)
  • Clemens PUPPE (Karlsruhe Institute of Technology)
  • Zsolt DARVAS (Bruegel)
  • Szabina FODOR (Corvinus University Budapest)
  • Sándor GALLAI (Corvinus University Budapest)
  • László GULÁCSI (Óbuda University)
  • Dóra GYŐRFFY (Corvinus University Budapest)
  • György HAJNAL (Corvinus University Budapest)
  • Krisztina KOLOS (Corvinus University Budapest)
  • Alexandra KÖVES (Corvinus University Budapest)
  • Lacina LUBOR (Mendel University in Brno)
  • Péter MEDVEGYEV (Corvinus University Budapest)
  • Miroslava RAJČÁNIOVÁ (Slovak University of Agriculture)
  • Ariel MITEV (Corvinus University Budapest)
  • Éva PERPÉK (Corvinus University Budapest)
  • Petrus H. POTGIETER (University of South Africa)
  • Sergei IZMALKOV (MIT Economics)
  • Anita SZŰCS (Corvinus University Budapest)
  • László TRAUTMANN (Corvinus University Budapest)
  • Trenton G. SMITH (University of Otago)
  • György WALTER (Corvinus University Budapest)
  • Zoltán CSEDŐ (Corvinus University Budapest)
  • Zoltán LŐRINCZI (Ministry of Human Capacities)

Society and Economy
Institute: Corvinus University of Budapest
Address: Fővám tér 8. H-1093 Budapest, Hungary
Phone: (36 1) 482 5406
E-mail: balazs.szentivanyi@uni-corvinus.hu

Indexing and Abstracting Services:

  • CABELLS Journalytics
  • DOAJ
  • International Bibliographies IBZ and IBR
  • International Political Science Abstracts
  • JSTOR
  • SCOPUS
  • RePEc
  • Referativnyi Zhurnal

 

2023  
Scopus  
CiteScore 1.5
CiteScore rank Q2 (Sociology and Political Science)
SNIP 0.496
Scimago  
SJR index 0.243
SJR Q rank Q3

Society and Economy
Publication Model Gold Open Access
Submission Fee none
Article Processing Charge 900 EUR/article with enough waivers
Regional discounts on country of the funding agency World Bank Lower-middle-income economies: 50%
World Bank Low-income economies: 100%
Further Discounts Sufficient number of full waiver available. Editorial Board / Advisory Board members: 50%
Corresponding authors, affiliated to an EISZ member institution subscribing to the journal package of Akadémiai Kiadó: 100%
Subscription Information Gold Open Access

Society and Economy
Language English
Size B5
Year of
Foundation
1972
Volumes
per Year
1
Issues
per Year
4
Founder Budapesti Corvinus Egyetem
Founder's
Address
H-1093 Budapest, Hungary Fővám tér 8.
Publisher Akadémiai Kiadó
Publisher's
Address
H-1117 Budapest, Hungary 1516 Budapest, PO Box 245.
Responsible
Publisher
Chief Executive Officer, Akadémiai Kiadó
ISSN 1588-9726 (Print)
ISSN 1588-970X (Online)