Purpose – The purpose of this study is to investigate the multinationality‐performance (M‐P) relationship in the context of US biopharmaceutical small‐ and medium‐sized enterprises (SMEs). Design/methodology/approach – The study examines the M‐P relationship of SMEs from a single...

We contend that the international strategy adopted by and the international experience of top executives in parent firms, as well as the embeddedness of foreign subsidiaries in host countries, moderate the impact of institutional distance between home and host countries on the divergence of...