Small Firms in a Small Country: Managerial Factors, Internationalization and Performance of Slovenian SMEs

Abstract

International activities of small and medium enterprises (SMEs) constitute an important research area. To understand this phenomenon, researchers employ different theoretical perspectives. Among them, the resource-based theory has been given much attention. In this study three managerial factors: managerial attitude toward internationalization, internationalization knowledge and international experience, are seen as examples of the firm’s intangible assets. The objectives of this study are twofold. First, it aims to examine the significance of the mentioned managerial resources for smes’ internationalization. Second, it verifies the relationship between the level of the firm’s internationalization and performance. The study is based on a sample of highly-internationalized Slovenian companies. According to the findings, managerial attitudes towards internationalization and internationalization knowledge are significantly related to the level of SME internationalization. The statistical analysis also provides support for the relationship between the level of the firm’s internationalization and performance.