Vol. 13 No. 3 (2025)
September 2025

Articles

Does international orientation intermediate in the relationship between entrepreneurial orientation and firm performance?

Published 2025-09-30

  • Gonçalo Rodrigues Brás
    • ,
  • Miguel Torres Preto
    • ,
  • Jacinta Chikaodi Nwachukwu

Gonçalo Rodrigues Brás
DINAMIA’CET-Iscte, University Institute of Lisbon

Miguel Torres Preto
Instituto Superior Técnico, University of Lisbon

Jacinta Chikaodi Nwachukwu
University of City Lancashire

Abstract

Objective: This article aims to augment the literature on entrepreneurial business primarily by assessing how the synergies between international orientation (IO) and entrepreneurial orientation (EO) promote the overall performance of Portuguese exporting companies after controlling for the effect of several firm and country characteristics commonly cited in the literature.

Research Design & Methods: The study considers the impact on overall firm performance of aggregated and individual dimensions of EO and IO using survey data collected from 341 companies through online questionnaires in 2015. We validated the proposed hypotheses using covariance-based structural equation modelling (CB-SEM).

Findings: We found three main relationships: (1) the positive impact of EO on firm performance is greater than the influences through the IO pathway; (2) the effect of firm innovativeness is noticeably higher than the proactiveness and risk-taking components of EO; and (3) IO positively and significantly reinforces the relationship between EO and firm performance.

Implications & Recommendations: Taken together, the results indicate that innovations to improve the international positioning of Portuguese exporters will make the greatest contribution to their overall performance. Thus, it is recommended that managers adopt governance structures that motivate and reward employees with novel ideas on how to foster penetration into new overseas markets.

Contribution & Value Added: This study fills the gap in the literature by emphasising: (1) the importance of combining IO with EO to boost the overall performance of risk-averse Portuguese exporters, and (2) the differential effects of the several EO dimensions on IO and overall firm performance.

Keywords

entrepreneurial orientation, international orientation, performance, exporting firms, structural equation modelling

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Author Biography

Gonçalo Rodrigues Brás

Contributing to academia as a visiting professor and research fellow at various higher education institutions in Portugal since 2006. He is currently an integrated researcher at DINÂMIA’CET–ISCTE, a research associate at the Center for Innovation, Technology and Policy Research (IN+), and a professor at Santarém Polytechnic University. With a diverse professional background in consultancy, banking, and accounting, he brings a wealth of practical experience to his academic pursuits. Gonçalo earned his PhD in Business Management from the University of Coimbra in 2016. As an economist with a specialisation in econometric modelling, his research interests include sustainable development, responsible innovation, and public policy and administration. Alongside his academic work, his contributions to Portuguese newspapers have made him a significant voice, especially in the field of public economics.

Miguel Torres Preto

Associate Professor with Habilitation in Engineering and Management of Organisations at the Department of Engineering and Management at the Instituto Superior Técnico (IST), Universidade de Lisboa. Since 2010, he has been a research associate at the Center for Innovation, Technology and Policy Research (IN+) and a member of the Associated Laboratory LARSyS. His research has been published in international peer-reviewed journals and focuses on the economic impact of entrepreneurship and innovation. He has successfully applied for several research grants in recent years, and his work has been nominated for some awards at international conferences. Miguel received his PhD in Engineering and Industrial Management from IST and also holds an MSc in Engineering Policy and Management of Technology, as well as a Bachelor’s Honours degree in Environmental Engineering.

Jacinta Chikaodi Nwachukwu

Deputy Head of School for Research at the University of City Lancashire. She also leads the module on Strategic Financial Management. Jacinta acts as a mentor to a number of Early Career Researchers (ECRs) and junior colleagues within the school. Jacinta teaches on Financial Management and Portfolio Investment modules. Her research interest is primarily on how access to financial services and the adoption of Agri-tech approaches might contribute to those sustainable development goals associated with human development and gender equality. Jacinta’s scholarship has resulted in grants from internal and external research funding bodies, including the British Academy. She has published widely in high-ranking journals. Jacinta also supervises postgraduate projects on finance and accounting topics. She received her PhD in Economics from the University of Lancaster, UK. Professor Jacinta’s research interests cut across Development Economics, Financial Markets, Accounting, Corporate Governance and Technological innovation.

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