FIRM FUNCTIONS AND THE NATURE OF COMPETITIVE ADVANTAGE IN INTERNATIONALIZING SMEs

Prior literature suggests that dynamic capabilities enable, on the one hand, firms to respond successfully to the changes in the markets, and on the other hand, to embrace firms’ ability to shape their business environments. However, existing studies have not fully considered how some firms within the same industry are able to shape markets, and why others need to adapt to these changes in a Kirznerian manner. We make an attempt, based on...