Key findings on research on emotions in SMEs internationalisation
| Authors (Year) | Article's focus | Key theories | Discrete emotions/Emotional constructs | Internationalisation process | Method | Key findings related to emotions |
|---|---|---|---|---|---|---|
| Mammadov and Wald (2025a) | Examines how SME owner-managers’ individual capabilities shape foreign market entry mode choice | Upper echelons theory | Emotional Intelligence | general | Quantitative |
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| Mammadov and Wald (2025b) | Examines whether SME owner-managers’ cultural intelligence and emotional intelligence help explain how internationalised their SMEs are, and whether global mindset is a mechanism linking these manager capabilities to the firm's degree of internationalisation | Upper echelons theory | Emotional intelligence | General | Quantitative |
|
| Kampouri and Hajidimitriou (2025) | Explores decision modes (bounded rationality vs real options reasoning) in post-entry foreign partner decisions, and how these relate to SEW differences | SEW | Emotional attachment | Initial and post-entry | Qualitative |
|
| Emotional endowment | ||||||
| Efrat and Asseraf (2024) | Examines how “born global” firms evolve as they mature, and which strategic choices are associated with performance at different maturity levels | Orientation-strategy-performance framework | Emotional branding | Post-entry | Quantitative |
|
| Alayo et al. (2023) | Examines how family members' identification with the firm influences the degree of internationalisation in family firms, and under what governance conditions this influence changes | SEW and Uppsala internationalisation model | Identification of family members with the firm | general | Quantitative |
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| González-Márquez et al. (2023) | Explores which factors drive foreign market (country) selection and how the decision process unfolds in the early internationalisation stages of SMEs | International market selection/internationalisation process | Intuition | Pre-entry/initial entry | Qualitative |
|
| de Groote et al. (2023) | Explores how family firms' top management teams make internationalisation decisions, emphasising how collaboration between family owner-managers and nonfamily managers shapes choices such as foreign expansion, configuration, and post-entry adjustments | Upper-echelons logic | Emotional attachment | General | Qualitative |
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| Cirillo et al. (2022) | Examines how family firms' employee downsizing decisions relate to their sales internationalisation strategy | Socioemotional wealth perspective | Emotional endowment | General | Quantitative |
|
| Emotional-related goals | ||||||
| Dong (2022) | Focuses on how a specific emotion (i.e., fear of failure) can shape internationalisation decisions | Uppsala/Internationalisation process model | Fear of failure | Pre-entry/initial entry | Conceptual |
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| Schweizer and Vahlne (2022) | Explain how the Uppsala internationalisation process model can accommodate non-linear/discontinuous internationalisation outcomes | Uppsala model | General affect | General | Conceptual |
|
| Emotions and mood | ||||||
| Barron and Boutary (2021) | Examines how small European firms respond strategically to Brexit-related uncertainty in their UK business activities | Stage model of internationalisation and behavioural strategy and cognitive perspective | Confidence is treated as the “emotion of assured expectation” | Post-entry | Qualitative |
|
| Benevolo et al. (2021) | To propose an integrated decision-making framework for entrepreneurial firms pursuing global strategies, explicitly combining “head” (cognitive/analytical aspects) and “heart” (emotions) in how entrepreneurs evaluate contexts, choose strategic levers, and implement global strategies | Entrepreneurial decision-making perspectives | Discrete emotions: fear, joy, anger and entrepreneurial passion | General | Conceptual paper |
|
| Emotional intelligence | ||||||
| Castiglioni et al. (2021) | Examines how socio-emotional wealth influences the speed of export development, comparing family vs non-family firms | SEW perspective | SEW | General | Quantitative |
|
| Leonidou et al. (2021) | Investigates whether export managers' emotional intelligence helps them build higher-quality relationships with foreign buyers and whether this, in turn, supports a more future-oriented/continuing relationship posture. It also examines whether the strength of these links varies across different foreign cultural contexts | Emotion regulation theory | Emotional intelligence | General | Quantitative |
|
| Mariotti et al. (2021) | Examines how family-firm heterogeneity – specifically the generation in control and the presence of non-family board directors – shapes the choice between greenfield vs cross-border acquisition when entering foreign markets | SEW perspective | SEW emotional attachment identification with the firm | General | Quantitative |
|
| Cabral et al. (2020) | Examines whether top managers' psychological characteristics – especially emotional intelligence and cultural intelligence – help explain differences in SMEs' international exposure | Upper echelons theory and resource-based view | Emotional intelligence | General | Quantitative |
|
| Kurt et al. (2020) | Examines how religion vs spirituality shape tie strength and commitment in Islamic business associations, and how this affects SMEs' access to tangible/intangible network resources and, ultimately, their internationalisation performance | Network theory (homophily and tie strength) | Spirituality | General | Mixed |
|
| Quintillán and Peña-Legazkue (2020) | Examines whether entrepreneurs' emotional intelligence competences help explain who internationalises (exports) during/after an economic recession | Human capital theory and theory of international entrepreneurship | Emotional intelligence | Pre-entry/initial entry | Quantitative survey |
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| Basly and Saunier (2020) | Examines how familiness shapes family SMEs' socio-emotional goals and how those goals, in turn, relate to the firm's export intensity | SEW and familiness | SEW | General | Quantitative |
|
| Efrat and Asseraf (2019) | Examines whether emotional branding (vs functional branding) improves born globals' international performance, and how market intelligence and innovativeness relate to these branding approaches | Brand image theory | Emotional branding image | Post-entry | Mixed |
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| Leonidou et al. (2019) | Focuses on whether exporters' emotional intelligence helps them build and manage relationships with foreign customers | Emotion regulation theory | Emotional intelligence | General | Quantitative |
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| Santulli et al. (2019) | Examines how family ownership concentration relates to internationalisation (export intensity) | Agency theory perspective and SEW perspective | SEW | General | Quantitative |
|
| Xu et al. (2019) | To provide an understanding of immigrant entrepreneurs' cross-cultural capabilities and how these capabilities enable them to adapt to new cultural environments and achieve success in international business | Acculturation theory | discrete emotions: frustration, loneliness, anger, stress; and related states like feeling “sad and down”, gratitude | post-entry | Qualitative |
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| Hassett et al. (2018) | Explores which emotions acquired top managers/key persons experience during post mergers and acquisitions integration, what triggers those emotions over time, and what consequences/behavioural outcomes follow | Cognitive appraisal theory and affective events theory | Discrete/basic emotions (positive and negative) such as happiness/contentment/pride/affection and anger/fear/sadness | Post-entry | Qualitative |
|
| Stieg et al. (2018) | Focuses on what combinations of knowledge resources and collaboration intensity lead to high international performance, and whether these “success patterns” differ between family and non-family firms | Revised Uppsala model and SEW perspective | SEW | General | Quantitative |
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| Cesinger et al. (2016) | Explain how collaboration intensity and network trust shape international market knowledge and, ultimately, family firms' multinationality | Internationalisation model of Johanson and Vahlne and SEW theory | SEW | General | Quantitative |
|
| Ngoma (2016) | Focuses on how foreign entrepreneurs running SMEs in Shanghai build close guanxi relationships with key local partners | Network perspectives and trust theory | Emotional connection/emotional bond (in relationship-building) | General | Mixed |
|
| Affect-based trust (vs cognitive trust) | ||||||
| Scholes et al. (2016) | Explores how small family firms internationalise and how family-driven socioemotional wealth priorities – especially trust and family harmony – shape that process | Uppsala model and SEW | SEW | General | Qualitative |
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| Sinkovics et al. (2011) | Explores how emotions shape what happens during cross-border mergers and acquisitions, especially during the post–deal integration period | Cognitive appraisal theory and affective events theory | Affective states | Post-entry | Qualitative |
|
| Meyer and Gelbuda (2006) | Focuses on process perspectives in international business research in Central and Eastern Europe. It discusses how international business scholars can better study internationalisation as a dynamic process in transition contexts, and it highlights ways to extend process models (e.g. Uppsala/IP) to include mechanisms such as learning, opportunity development and emotions within evolving internationalisation paths | Uppsala/Internationalisation process model | Emotional attachment | General | Conceptual |
|
| Van de Laar and De Neubourg (2006) | Examines how emotions influence foreign direct investment (FDI) decisions; it develops a model that explicitly adds the decision-maker's emotional utility to the firm's economic evaluation, and then tests whether emotion-linked personal motivations help explain which firms proceed with FDI | Microeconomic utility | General positive emotions | Post-entry | Quantitative |
|
| Authors (Year) | Article's focus | Key theories | Discrete emotions/Emotional constructs | Internationalisation process | Method | Key findings related to emotions |
|---|---|---|---|---|---|---|
| Examines how SME owner-managers’ individual capabilities shape foreign market entry mode choice | Upper echelons theory | Emotional Intelligence | general | Quantitative | Emotional intelligence strengthens the link between owner-managers’ leadership self-efficacy and choosing equity (higher-commitment) entry modes (i.e., when emotional intelligence is higher, self-efficacy is more strongly associated with selecting equity-based entry) | |
| Examines whether SME owner-managers’ cultural intelligence and emotional intelligence help explain how internationalised their SMEs are, and whether global mindset is a mechanism linking these manager capabilities to the firm's degree of internationalisation | Upper echelons theory | Emotional intelligence | General | Quantitative | SME owner-managers’ emotional intelligence is positively associated with their firms' degree of internationalisation (more international sales and wider geographic spread) Emotional intelligence is linked to a stronger global mindset, and global mindset partly explains why higher emotional intelligent owner-managers lead more internationalised SMEs | |
| Explores decision modes (bounded rationality vs real options reasoning) in post-entry foreign partner decisions, and how these relate to SEW differences | SEW | Emotional attachment | Initial and post-entry | Qualitative | In highly family-involved SMEs, SEW-linked belongingness/attachment can bias firms towards partner engagement/maintenance under bounded rationality, potentially slowing internationalisation growth; in lower-involvement types, such SEW tendencies may be absent, enabling more switching partners | |
| Emotional endowment | ||||||
| Examines how “born global” firms evolve as they mature, and which strategic choices are associated with performance at different maturity levels | Orientation-strategy-performance framework | Emotional branding | Post-entry | Quantitative | Among mature born globals, an emphasis on emotional brand meaning is associated with stronger performance outcomes (e.g. sales volume and profitability) than a predominantly functional/technological brand emphasis | |
| Examines how family members' identification with the firm influences the degree of internationalisation in family firms, and under what governance conditions this influence changes | SEW and Uppsala internationalisation model | Identification of family members with the firm | general | Quantitative | Stronger identification is associated with a lower degree of internationalisation. Yet this pattern shifts in more supportive governance contexts; it becomes more favourable when family involvement on the board is higher and when CEO tenure is longer | |
| Explores which factors drive foreign market (country) selection and how the decision process unfolds in the early internationalisation stages of SMEs | International market selection/internationalisation process | Intuition | Pre-entry/initial entry | Qualitative | Early country selection in SME restaurant franchises is often shaped by subjective/intuition-based motives (e.g. personal attraction or partner-driven enthusiasm) when expansion is opportunistic rather than planned | |
| Explores how family firms' top management teams make internationalisation decisions, emphasising how collaboration between family owner-managers and nonfamily managers shapes choices such as foreign expansion, configuration, and post-entry adjustments | Upper-echelons logic | Emotional attachment | General | Qualitative | Aligned emotional attachment within the family firm top management team (e.g. pride in international success and ties to foreign partners) can enable internationalisation decisions and commitment Misaligned attachment to legacy routines or past choices creates collaboration frictions that can constrain, or distort decisions such as entry mode and location choices, as well as post-entry commitment changes (including withdrawal/closure) | |
| Examines how family firms' employee downsizing decisions relate to their sales internationalisation strategy | Socioemotional wealth perspective | Emotional endowment | General | Quantitative | Family firms place high value on non-financial, relationship- and identity-related considerations, which helps explain why they are generally less likely to downsize employees than non-family firms. This tendency becomes less pronounced when firms pursue a more internationally advanced sales approach – higher export intensity, broader geographic reach beyond the home region and direct exporting – suggesting that stronger international engagement shifts the trade-offs family firms make | |
| Emotional-related goals | ||||||
| Focuses on how a specific emotion (i.e., fear of failure) can shape internationalisation decisions | Uppsala/Internationalisation process model | Fear of failure | Pre-entry/initial entry | Conceptual | Internationalisation choices are influenced not only by reasoning and information, but also by fear of failure, which can be triggered when managers face high uncertainty and the possibility of negative consequences Proposes that this fear can shape commitment decisions – for example, making firms more likely to delay, scale back or even reverse international involvement after setbacks – thereby linking an individual emotional response to firm-level internationalisation patterns within the Uppsala/process framework | |
| Explain how the Uppsala internationalisation process model can accommodate non-linear/discontinuous internationalisation outcomes | Uppsala model | General affect | General | Conceptual | Managers' emotions and mood can shape how they judge uncertainty and risk, which then influences commitment decisions (whether to add, maintain, reduce or redirect resources in foreign markets) Because judgments are emotion-influenced, internationalisation often proceeds through small commitment steps, yet these can still accumulate into patterns that look “non-linear” over time More sudden changes in internationalisation are portrayed as more likely when a high-pressure shock shifts decision-making towards fast, intuitive reactions – where emotions can carry more weight – or when new decision-makers with different emotional/cognitive tendencies take over | |
| Emotions and mood | ||||||
| Examines how small European firms respond strategically to Brexit-related uncertainty in their UK business activities | Stage model of internationalisation and behavioural strategy and cognitive perspective | Confidence is treated as the “emotion of assured expectation” | Post-entry | Qualitative | Managerial confidence is a key emotion shaping post-entry internationalisation decisions under Brexit uncertainty: it influences how managers interpret the shock and whether they maintain/increase or scale back commitment to the market | |
| To propose an integrated decision-making framework for entrepreneurial firms pursuing global strategies, explicitly combining “head” (cognitive/analytical aspects) and “heart” (emotions) in how entrepreneurs evaluate contexts, choose strategic levers, and implement global strategies | Entrepreneurial decision-making perspectives | Discrete emotions: fear, joy, anger and entrepreneurial passion | General | Conceptual paper | Emotions shape how entrepreneurs interpret information, evaluate opportunities and commit to action, working alongside cognitive reasoning Different emotions push decision-making in different directions (some discouraging risk-taking, others encouraging persistence) Entrepreneurial passion and emotional intelligence as resources that can support sustained effort and effective interaction in international contexts | |
| Emotional intelligence | ||||||
| Examines how socio-emotional wealth influences the speed of export development, comparing family vs non-family firms | SEW perspective | SEW | General | Quantitative | Family firms expand their exports more slowly than non-family firms, consistent with a more cautious, step-by-step approach linked to preserving SEW | |
| Investigates whether export managers' emotional intelligence helps them build higher-quality relationships with foreign buyers and whether this, in turn, supports a more future-oriented/continuing relationship posture. It also examines whether the strength of these links varies across different foreign cultural contexts | Emotion regulation theory | Emotional intelligence | General | Quantitative | Higher emotional intelligence is associated with better international relationship quality with foreign buyers (stronger trust, commitment, cooperation and satisfaction), and these relationship-quality improvements are linked to a stronger long-term orientation towards continuing the cross-border relationship | |
| Examines how family-firm heterogeneity – specifically the generation in control and the presence of non-family board directors – shapes the choice between greenfield vs cross-border acquisition when entering foreign markets | SEW perspective | SEW emotional attachment identification with the firm | General | Quantitative | Founder-led family firms are more likely to choose greenfields over acquisitions when entering foreign markets. The presence of non-family directors generally shifts firms towards acquisitions, and this influence is strongest in second-generation firms but weakens in later generations, which is linked to stronger SEW preservation tendencies among long-surviving family firms | |
| Examines whether top managers' psychological characteristics – especially emotional intelligence and cultural intelligence – help explain differences in SMEs' international exposure | Upper echelons theory and resource-based view | Emotional intelligence | General | Quantitative | Emotional intelligence does not significantly differentiate SMEs with low vs medium vs high degree of internationalisation, even though managers report relatively high emotional intelligence across groups Emotional intelligence is positively related to external networking behaviour, but this networking does not translate into (or mediate) higher internationalisation levels in their results | |
| Examines how religion vs spirituality shape tie strength and commitment in Islamic business associations, and how this affects SMEs' access to tangible/intangible network resources and, ultimately, their internationalisation performance | Network theory (homophily and tie strength) | Spirituality | General | Mixed | SMEs whose owners/managers show higher applied spirituality tend to feel more committed to their business network, especially in more conservative regions. This stronger commitment is linked to gaining more useful non-material support from the network (e.g. knowledge and information), which is then associated with better internationalisation performance | |
| Examines whether entrepreneurs' emotional intelligence competences help explain who internationalises (exports) during/after an economic recession | Human capital theory and theory of international entrepreneurship | Emotional intelligence | Pre-entry/initial entry | Quantitative survey | Entrepreneurs with higher personal and social emotional intelligence are more likely to internationalise via exporting during recession conditions | |
| Examines how familiness shapes family SMEs' socio-emotional goals and how those goals, in turn, relate to the firm's export intensity | SEW and familiness | SEW | General | Quantitative | Family SMEs' internationalisation intensity is linked to socio-emotional goals rather than purely economic considerations: some goals appear to constrain exporting while others support stronger export engagement Identification with the firm is associated with lower export intensity, whereas the goal of renewing family bonds across generations is associated with higher export intensity, highlighting that different SEW dimensions can push internationalisation in opposite directions | |
| Examines whether emotional branding (vs functional branding) improves born globals' international performance, and how market intelligence and innovativeness relate to these branding approaches | Brand image theory | Emotional branding image | Post-entry | Mixed | Born globals with a stronger emotional branding orientation tend to report better international performance In contrast, a more functional branding emphasis does not show a comparable performance benefit in their results | |
| Focuses on whether exporters' emotional intelligence helps them build and manage relationships with foreign customers | Emotion regulation theory | Emotional intelligence | General | Quantitative | Higher emotional intelligence is associated with a more constructive relationship climate with foreign customers – stronger communication and social bonding and lower conflict (and generally lower relational distance) – which in turn relates to better relationship performance Emotional intelligence's benefits can be weaker when the foreign customer behaves more opportunistically or when the exporter–buyer pair is more incompatible | |
| Examines how family ownership concentration relates to internationalisation (export intensity) | Agency theory perspective and SEW perspective | SEW | General | Quantitative | Family pride influences how ownership structure relates to exporting. Export intensity is lowest when family ownership is more evenly split, but this drop is much smaller when SEW is high – high-SEW families with shared ownership tend to export more than low-SEW families with shared ownership | |
| To provide an understanding of immigrant entrepreneurs' cross-cultural capabilities and how these capabilities enable them to adapt to new cultural environments and achieve success in international business | Acculturation theory | discrete emotions: frustration, loneliness, anger, stress; and related states like feeling “sad and down”, gratitude | post-entry | Qualitative | Internationally active immigrant entrepreneurs often face stressful cross-cultural incidents that trigger negative feelings (e.g. frustration, loneliness, anger, stress), and that their ability to manage/regulate these emotions is a key capability for staying effective in cross-border business A positive mindset supports the emotion-management capacity and helps entrepreneurs handle setbacks and interactions more constructively, which supports ongoing international activity and relationship building | |
| Explores which emotions acquired top managers/key persons experience during post mergers and acquisitions integration, what triggers those emotions over time, and what consequences/behavioural outcomes follow | Cognitive appraisal theory and affective events theory | Discrete/basic emotions (positive and negative) such as happiness/contentment/pride/affection and anger/fear/sadness | Post-entry | Qualitative | During a cross-border acquisition's integration phase, top managers and key people experience a shifting mix of positive and negative emotions, with negative feelings – especially anger – tending to become more prominent as integration unfolds. These emotions are triggered by both personal concerns (e.g. loss of ownership/control, career uncertainty) and firm-level developments (e.g. cultural/managerial differences, unmet expectations, uncertainty about the future) and the same event can be interpreted differently by different individuals Even when emotions run high, managers' behaviour may be constrained (for example by contractual arrangements), which can limit how emotions translate into visible action | |
| Focuses on what combinations of knowledge resources and collaboration intensity lead to high international performance, and whether these “success patterns” differ between family and non-family firms | Revised Uppsala model and SEW perspective | SEW | General | Quantitative | Family firms' pathways to high international performance are shaped by SEW preservation motives (e.g. protecting family control/identity and avoiding situations that could threaten SEW). This is used to explain why family firms more often achieve high performance through simpler, control-preserving paths (relying strongly on one key lever) rather than needing multiple conditions at once | |
| Explain how collaboration intensity and network trust shape international market knowledge and, ultimately, family firms' multinationality | Internationalisation model of Johanson and Vahlne and SEW theory | SEW | General | Quantitative | Family firms' international expansion depends on whether they can access and use international market knowledge without threatening socio-emotional priorities Collaboration intensity supports multinationality mainly through building international market knowledge, and this indirect effect is stronger when network trust is high; suggesting that trust helps family firms translate partner ties into international growth | |
| Focuses on how foreign entrepreneurs running SMEs in Shanghai build close guanxi relationships with key local partners | Network perspectives and trust theory | Emotional connection/emotional bond (in relationship-building) | General | Mixed | Foreign entrepreneurs running SMEs in Shanghai strengthen guanxi by moving beyond initial contact to a deeper relationship stage where they invest more in an emotional bond and develop affect-based trust Stronger ties are characterised less by purely instrumental assessments and more by relationship-building behaviours that support emotion-laden trust, which helps entrepreneurs access local support and resources | |
| Affect-based trust (vs cognitive trust) | ||||||
| Explores how small family firms internationalise and how family-driven socioemotional wealth priorities – especially trust and family harmony – shape that process | Uppsala model and SEW | SEW | General | Qualitative | In small family firms, SEW-related priorities – especially family trust and harmony – can support initial internationalisation by enabling early exporting through trusted family ties and familiar contacts. However, the same priorities can later constrain post-entry expansion: protecting harmony and avoiding “outsider” risk tends to limit broader networking and capability building, making it harder to move beyond exporting into more committed modes or more distant markets | |
| Explores how emotions shape what happens during cross-border mergers and acquisitions, especially during the post–deal integration period | Cognitive appraisal theory and affective events theory | Affective states | Post-entry | Qualitative | Across four cross-border mergers and acquisitions, employees' emotional reactions are strongly shaped by managerial communication and behaviour under uncertainty. These emotions then act as an intermediary mechanism, influencing employee attitudes and behaviours (often discussed as “merger syndrome” dynamics) that can ultimately affect integration progress and perceived mergers and acquisitions outcomes | |
| Focuses on process perspectives in international business research in Central and Eastern Europe. It discusses how international business scholars can better study internationalisation as a dynamic process in transition contexts, and it highlights ways to extend process models (e.g. Uppsala/IP) to include mechanisms such as learning, opportunity development and emotions within evolving internationalisation paths | Uppsala/Internationalisation process model | Emotional attachment | General | Conceptual | Emotions should be treated as a real part of how internationalisation happens; as firms gain experience and commit resources abroad, decision-makers can develop emotional attachment (or negative feelings), and these emotions can then influence what they learn and how willing they are to increase, maintain or reduce their international commitments later on | |
| Examines how emotions influence foreign direct investment (FDI) decisions; it develops a model that explicitly adds the decision-maker's emotional utility to the firm's economic evaluation, and then tests whether emotion-linked personal motivations help explain which firms proceed with FDI | Microeconomic utility | General positive emotions | Post-entry | Quantitative | Emotions can matter in pre-entry foreign direct investment decisions: when decision-makers have positive, personally rooted motivations towards a target country (captured through factors like personal experience, nationality links or personal contacts), firms are more likely to proceed with foreign direct investment |
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