The M Curve and the Performance of Spanish International New Ventures

In this paper we address three challenges. First, we discuss how international new ventures ( INVs ) are probably not explained by the U ppsala model as there is no time for learning about foreign markets in newly born and small firms. Only in the longer term can INVs develop experiential learning to overcome the liability of foreignness as they expand abroad. Second, we advance theoretically on previous research demonstrating that the...