The Role of Entrepreneurial Ecosystem Actors and Resources in Shaping the Non-Financial Performance of European Born Globals
Abstract
Nowadays, globalization with the support of advancements in communication and logistics has paved the way for many companies to embark on the internationalization journey faster than ever before. These companies that internationalize rapidly after establishment are known as born globals. (Wictor, 2012, p. 15; Knight & Cavusgil, 2004, p. 125) Recent studies have looked at the entrepreneurial ecosystem as an important pillar of success for born globals (Velt, Torkkeli & Saarenketo, 2018a, p. 317; Gueguen, Delanoe-Gueguen & Lechner, 2021, p. 116). More specifically, Efrat and Wald (2024) identify the ecosystem actors and the resources they provide at the critical initial stages which aid born globals to succeed internationally (Efrat & Wald, 2024, p. 1) However, literature linking these two concepts is still in its early stages. The purpose of this master’s thesis is to contribute new knowledge and narrow the gaps in the literature by investigating how entrepreneurial ecosystem actors contribute to the non-financial performance of European-born globals.
The Resource-Based View (RBV) theory has been employed in this study as a theoretical foundation for understanding how facilitators, investors, and industry actors contribute valuable resources that enhance the non-financial performance of born globals. The thesis performed descriptive exploratory research following a deductive approach. A quantitative data collection method in the format of an online questionnaire was administered to collect primary data from founders and CEOs of European-born globals founded between 2016 and 2023. The data was analyzed through the IBM SPSS program and a confirmatory factor analysis was performed on the IBM SPSS Amos software.
In agreement with the RBV framework, the results revealed that born globals who acquire the intangible resource of corporate reputation through ecosystem actors can create a competitive advantage that fosters significant positive non-financial performance. However, the unexpected results for quality capability and brand awareness indicate that there may be other resources significant for born globals’ non-financial performance, than the ones analyzed. Lastly, the study concludes with practical and theoretical implications for entrepreneurs and other stakeholders and suggests the possibilities to further explore the unexpected results of this study. The thesis presents originality by exploring underlying factors beyond the conventional financial aspects and physical resources of born globals.