An empirical study on correlative factors in internationalized growth of Chinese Small and Median-sized enterprises

The paper explores factors that are expected to influence the internationalization process of Chinese small and median-sized enterprises in a sample of 71 Chinese companies listing in Small and Median Enterprise Board of Shenzhen Stock Exchange.The results reveal that internationalization process is positively related to international knowledge and experience of top management team, and the firm's background of direct foreign investment, and is negatively related to the ratio of capital per labor of the firm and the technology level.Firm age has no correlation to the internationalization process.Labor-intensive SMEs pace better in internationalization than capital-intensive and high-tech ones.Chinese SMEs should improve the international knowledge and experience level of top management team and fully exert learning advantage of newness.FDI and inward internationalization is suggested as an efficient way to upgrade the outward internationalization of Chinese SMEs.