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Risk Management in the Internationalization of Small and Medium-Sized Spanish Companies

Author

Listed:
  • Ana Cruz González Calzadilla

    (Department of Financial Economics and Accounting, University Pablo of Olavide of Seville, Ctra. Utrera, Km. 1, 41013 Sevilla, Spain)

  • María Segovia Villarreal

    (Department of Financial Economics and Accounting, University Pablo of Olavide of Seville, Ctra. Utrera, Km. 1, 41013 Sevilla, Spain)

  • Juan Manuel Ramón Jerónimo

    (Department of Financial Economics and Accounting, University Pablo of Olavide of Seville, Ctra. Utrera, Km. 1, 41013 Sevilla, Spain)

  • Raquel Flórez López

    (Department of Financial Economics and Accounting, University Pablo of Olavide of Seville, Ctra. Utrera, Km. 1, 41013 Sevilla, Spain)

Abstract

The aim of this study is to analyze how Spanish small and medium-sized enterprises (hereinafter SMEs) manage risks derived from internationalization to improve performance. For this purpose, a case study was elaborated to understand the different risk management strategies used by Spanish SMEs in order to improve performance. Data were collected through sixteen semi-structured interviews. Findings suggest that although the internationalization process involves risk, SMEs, despite their size, can develop a proper risk management which leads to improve performance. Additionally, it is suggested that internationalization risks are not an impediment for SMEs to become involved in international activity, but that it is the way they manage them which makes SMEs improve their performance. Furthermore, the internationalization strategy becomes more efficient when a differentiation and innovation strategy are followed simultaneously.

Suggested Citation

  • Ana Cruz González Calzadilla & María Segovia Villarreal & Juan Manuel Ramón Jerónimo & Raquel Flórez López, 2022. "Risk Management in the Internationalization of Small and Medium-Sized Spanish Companies," JRFM, MDPI, vol. 15(8), pages 1-21, August.
    • Handle: RePEc:gam:jjrfmx:v:15:y:2022:i:8:p:361-:d:888360
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    References listed on IDEAS

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    Cited by:

    1. Valentin Nikolaenko & Anatoly Sidorov, 2023. "Assessing the Maturity Level of Risk Management in IT Projects," Sustainability, MDPI, vol. 15(17), pages 1-19, August.
    2. Mehmet Civelek & Michal Erben & Michal Kuděj & Zuzana Vincúrová & Wan Mohd Hirwani Wan Hussain, 2024. "Exploring the influence of risk management capabilities on SMEs’ export intentions: a cross-country analysis," International Entrepreneurship and Management Journal, Springer, vol. 20(3), pages 2369-2396, September.

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