Effect of SMEs' international experience on foreign intensity and economic performance : the mediating role of internationally exploitable assets and competitive strategy

In this paper, we study the relationship between the international experience of small and medium-sized enterprises (SMEs) and their economic performance using intangible and financial asset stock, competitive strategy, and international intensity as mediating factors. The RBV provides the theoretical framework to develop a theoretical model postulating that international experience has an indirect effect on foreign growth and economic performance. This model was used to test a sample of 394 Spanish SMEs through the modelization of a structura equations system. Results show that superior economic performance is only achieved by SMEs that can turn the knowledge they gain from international experience into a large endowment of internationally expoitable intangible assets (irrespective of the fact that these assets form the bais for strengthening international intensity) and into a differentiation competitive strategy.