Internationalization and Firm Performance : The Role of Intangible Resources

A large body of strategy and international business literature has examined the relationship between internationalization (regional diversification) and firm perfo- ance over the last decades. In essence, the current state of research on the internati- alization-performance relationship must be characterized, however, as being hetero- neous and inconclusive. From a conceptual point of view, increasing levels of inter- tionalization should have positive effects on firm performance due to economies of scale, market power effects, and risk reduction effects, to name but a few. At the same time, f