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Internationalization and value orientation of entrepreneurial ventures—a Latin American perspective

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Abstract

Entrepreneurial ventures from Latin American emerging economies are underexplored on the current international entrepreneurship literature. This paper is aimed to contribute empirical evidence on entrepreneurial ventures from Latin American emerging economies and their internationalization and value orientation. Based on the 2009 Global Entrepreneurship Monitor data, we found that institutional voids on Latin American emerging economies were a double-edge sword: on one hand, inefficient and unregulated markets make ventures from Latin American emerging economies encounter the liability of their country of origin; on the other hand, less active governments and absence of influential NGOs alternatively trigger more social entrepreneurial opportunities, with some of them across the national border. Some entrepreneurs from Latin American emerging economies have been active in exploiting those international social opportunities. International social entrepreneurship can be regarded as an alternative solution to social problems which governments, NGOs, or for-profit ventures fail to tackle on Latin American emerging economies.

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Notes

  1. Twenty-five emerging economies listed by International Monetary Fund are Argentina, Brazil, Bulgaria, Chile, China, Colombia, Estonia, Hungary, India, Indonesia, Latvia, Lithuania, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Romania, Russia, South Africa, Thailand, Turkey, Ukraine, and Venezuela.

  2. Three of the seven Latin American emerging economies (Argentina, Brazil, and Venezuela), including the largest one are full members of Mercosur, with Chile, Colombia, and Peru as associate states and Mexico as an observer state.

  3. China and India signed free trade agreements with Association of South Eastern Asian Nations (ASEAN), which both came into effect in 2010. India is a part of South Asia Free Trade Area (SAFTA), which will come into effect in 2016. Neither of them can be comparable to Mercosur and CAN on scope and depth.

  4. For example, India and China were historically hostile toward the largest international markets on the same region, Pakistan and Japan, respectively. Movement of goods between Russian firms and their EU suppliers and customers is under the control of customs and tariffs.

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Authors and Affiliations

  1. School of Business and Management, Lappeenranta University of Technology, Lappeenranta, Finland

    Jie Chen, Sami Saarenketo & Kaisu Puumalainen

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  1. Jie Chen
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  2. Sami Saarenketo
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  3. Kaisu Puumalainen
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Correspondence to Jie Chen.

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Chen, J., Saarenketo, S. & Puumalainen, K. Internationalization and value orientation of entrepreneurial ventures—a Latin American perspective. J Int Entrep 14, 32–51 (2016). https://doi.org/10.1007/s10843-016-0169-9

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