How to cite this paper
Phan, A., and, T & Lu, T. (2020). The existence of W-shaped relationship between internationalization and firm performance: An empirical study of enterprises in Cameroon.Decision Science Letters , 9(4), 573-580.
Refrences
Almodovar, P. & Rugman, A. M. (2014). The M Curve and the Performance of Spanish International New Venture. British Journal of Management, 25, 6-23.
Altaf, N. & Shah, F. A. (2015). Internationalization and firm performance of Indian Firms: Does product diversity matter?’, Pacific Science Review B: Humanities and Social Sciences, 1, 76-84.
Bausch, A. & Krist, M. (2007). The effect of context-related moderators on the internationalization-performance relationship: Evidence from meta-analysis. Management International Review, 47, 319-347.
Benito-Osorio, D., Colino, A., Guerras-Martın, L. A. & Zuniga-Vicente, J. A. (2016). The international diversification-performance link in Spain: Does firm size really matter?’, International Business Review, 25, 548–558.
Bigsten, A., & Gebreeyesus, M. (2007). The small, the young, and the productive: Determinants of manufacturing firm growth in Ethiopia. Economic Development and Cultural Change, 55(4), 813-840.
Capar, N. & Kotabe, M. (2003). The relationship between international diversification and performance in service firms. Journal of International Business Studies, 34, 345– 355.
Chiao, Y. C. & Yang, K. P. (2011). Internationalization, intangible assets and Taiwanese SMEs’ performance: Evidence of an Asian newly-industrialized economy. African Journal of Business Management, 5(3), 641-655.
Contractor, F. J., Kundu, S. K., & Hsu, C. C. (2003). A three-stage theory of international expansion: The link between multinationality and performance in the service sector. Journal of International Business Studies, 34(1), 5-18.
De Jong, G., Tu, P. A., & van Ees, H. (2012). Which entrepreneurs bribe and what do they get from it? Exploratory evidence from Vietnam. Entrepreneurship Theory and Practice, 36(2), 323-345.
Doan, T. (2020). Financing decision and firm performance: Evidence from an emerging country. Management Science Letters, 10(4), 849-854.
Doan, T., & Bui, T. (2020). Nonlinear impact of supply chain finance on the performance of seafood firms: A case study from Vietnam. Uncertain Supply Chain Management, 8(2), 267-272.
Felson, M. & Gottfredson, M. (1984). Social indicators of adolescent activities near peers and parents. Journal of Marriage and the Family, 46, 709-14
Fernández-Olmos, M., Gargallo-Castel, A. & Giner-Bagües, E. (2016). Internationalisation and performance in Spanish family SMES: The W-curve. Business Research Quarterly, 19, 122-136.
Ferraris, A., Bresciani, S. & Giudice, M. D. (2015). International diversification and firm performance: a four-stage model. EuroMed Journal of Business, 11(3), 362-375.
Geringer, J.M., Tallman, S., & Olsen, D.M. (2000). Product and international diversification among Japanese multinationals firms. Strategic Management Journal, 21, 51-80.
Gomes, L.K & Ramaswamy, K. (1999). An emprical examination of the firm of the relationship between multinationality and performance. Journal of International Business Studies, 30(1), 173-188.
Grant, R.M. (1987). Multinationality and performance among British manufacturing firms. Journal of International Business Studies, 18(1), 79-89.
Gulati, R. (1998). Alliance and networks. Strategy Management Journal, 19, 293-317.
Hitt, M., Hoskisson, R. & Kim, H. (1997). International diversification: effects on innovation and firm performance in product-diversified firms. Academy Management Journal, 40(4), 767-798.
Krammer, S. M., Strange, R., & Lashitew, A. (2018). The export performance of emerging economy firms: The influence of firm capabilities and institutional environments. International Business Review, 27(1), 218-230.
Lee, I. H. (2013). The M Curve and the multinationality-performance relationship of Korean INVs. Multinational Business Review, 21(3), 214-231.
Lu, J. & Beamish, B. (2004). International Diversification and firm performance: the S curve hypothesis. Academy of Management Journal, 47(4), 598-609.
Osei-Bonsu, N. (2014). Understanding the internationalization process of small-to medium-sized manufacturing enterprises (SMEs): evidence from developing countries. Euroupean Journal of Business Management, 6(2), 167-186.
Pham, D., & Pham, Q. (2020). The impact of CEO duality on firm performance: Examining the life-cycle theory in Vietnam. Accounting, 6(5), 737-747.
Peng, M. W. (2002).Towards an institution-based view of business strategy. Asia Pacific Journal of Management, 19(2-3), 251-267.
Ramachandran, V. & Shah, M. K. (1999). Minority entrepreneurs and firm performance in sub-saharan Africa. The Journal of Development Studies, 36(2), 71.
Riahi-Belkaoui, A. (1998). The effects of the degree of internationalization on firm performance. International Business Review, 7, 315-321.
Rugman, A.M. (1979). International diversification and the multinational enterprise. Lexington.
Ruigrok, W., Aman, W. & Wagner, H. (2007). The internationalization -performance relationship at Swiss firms: A test of the S – Shape and extreme degrees of internationalization. Management International Review, 47(3), 349-368.
Ruigrok, W., Wagner, H. (2003). Internationalization and performance: an organizational learning perspective. Management International Review, 43, 63-83.
Thomas, D.E. & Eden, L. (2004). What is the shape of the multinationality- performance relationship?. The Multinational Business Review, 12(1), 89– 110.
Tu, P. A., & Uyen, T. T. T. (2017). A Study of the Relationship between Internationalization and Firm Performance A Case-study of Firms in the Service Sector in Indonesia. VNU Journal of Science: Economics and Business, 33(1).
World Bank, 2017. Cameroon Country Report. Available at: [Accessed 10 October 2019].
Wu, D., Wu, X. & Zhou, H. (2012). International expansion and firm performance in emerging markets: evidence from China. Chinese Management Studies, 6(3), 509-528.
Altaf, N. & Shah, F. A. (2015). Internationalization and firm performance of Indian Firms: Does product diversity matter?’, Pacific Science Review B: Humanities and Social Sciences, 1, 76-84.
Bausch, A. & Krist, M. (2007). The effect of context-related moderators on the internationalization-performance relationship: Evidence from meta-analysis. Management International Review, 47, 319-347.
Benito-Osorio, D., Colino, A., Guerras-Martın, L. A. & Zuniga-Vicente, J. A. (2016). The international diversification-performance link in Spain: Does firm size really matter?’, International Business Review, 25, 548–558.
Bigsten, A., & Gebreeyesus, M. (2007). The small, the young, and the productive: Determinants of manufacturing firm growth in Ethiopia. Economic Development and Cultural Change, 55(4), 813-840.
Capar, N. & Kotabe, M. (2003). The relationship between international diversification and performance in service firms. Journal of International Business Studies, 34, 345– 355.
Chiao, Y. C. & Yang, K. P. (2011). Internationalization, intangible assets and Taiwanese SMEs’ performance: Evidence of an Asian newly-industrialized economy. African Journal of Business Management, 5(3), 641-655.
Contractor, F. J., Kundu, S. K., & Hsu, C. C. (2003). A three-stage theory of international expansion: The link between multinationality and performance in the service sector. Journal of International Business Studies, 34(1), 5-18.
De Jong, G., Tu, P. A., & van Ees, H. (2012). Which entrepreneurs bribe and what do they get from it? Exploratory evidence from Vietnam. Entrepreneurship Theory and Practice, 36(2), 323-345.
Doan, T. (2020). Financing decision and firm performance: Evidence from an emerging country. Management Science Letters, 10(4), 849-854.
Doan, T., & Bui, T. (2020). Nonlinear impact of supply chain finance on the performance of seafood firms: A case study from Vietnam. Uncertain Supply Chain Management, 8(2), 267-272.
Felson, M. & Gottfredson, M. (1984). Social indicators of adolescent activities near peers and parents. Journal of Marriage and the Family, 46, 709-14
Fernández-Olmos, M., Gargallo-Castel, A. & Giner-Bagües, E. (2016). Internationalisation and performance in Spanish family SMES: The W-curve. Business Research Quarterly, 19, 122-136.
Ferraris, A., Bresciani, S. & Giudice, M. D. (2015). International diversification and firm performance: a four-stage model. EuroMed Journal of Business, 11(3), 362-375.
Geringer, J.M., Tallman, S., & Olsen, D.M. (2000). Product and international diversification among Japanese multinationals firms. Strategic Management Journal, 21, 51-80.
Gomes, L.K & Ramaswamy, K. (1999). An emprical examination of the firm of the relationship between multinationality and performance. Journal of International Business Studies, 30(1), 173-188.
Grant, R.M. (1987). Multinationality and performance among British manufacturing firms. Journal of International Business Studies, 18(1), 79-89.
Gulati, R. (1998). Alliance and networks. Strategy Management Journal, 19, 293-317.
Hitt, M., Hoskisson, R. & Kim, H. (1997). International diversification: effects on innovation and firm performance in product-diversified firms. Academy Management Journal, 40(4), 767-798.
Krammer, S. M., Strange, R., & Lashitew, A. (2018). The export performance of emerging economy firms: The influence of firm capabilities and institutional environments. International Business Review, 27(1), 218-230.
Lee, I. H. (2013). The M Curve and the multinationality-performance relationship of Korean INVs. Multinational Business Review, 21(3), 214-231.
Lu, J. & Beamish, B. (2004). International Diversification and firm performance: the S curve hypothesis. Academy of Management Journal, 47(4), 598-609.
Osei-Bonsu, N. (2014). Understanding the internationalization process of small-to medium-sized manufacturing enterprises (SMEs): evidence from developing countries. Euroupean Journal of Business Management, 6(2), 167-186.
Pham, D., & Pham, Q. (2020). The impact of CEO duality on firm performance: Examining the life-cycle theory in Vietnam. Accounting, 6(5), 737-747.
Peng, M. W. (2002).Towards an institution-based view of business strategy. Asia Pacific Journal of Management, 19(2-3), 251-267.
Ramachandran, V. & Shah, M. K. (1999). Minority entrepreneurs and firm performance in sub-saharan Africa. The Journal of Development Studies, 36(2), 71.
Riahi-Belkaoui, A. (1998). The effects of the degree of internationalization on firm performance. International Business Review, 7, 315-321.
Rugman, A.M. (1979). International diversification and the multinational enterprise. Lexington.
Ruigrok, W., Aman, W. & Wagner, H. (2007). The internationalization -performance relationship at Swiss firms: A test of the S – Shape and extreme degrees of internationalization. Management International Review, 47(3), 349-368.
Ruigrok, W., Wagner, H. (2003). Internationalization and performance: an organizational learning perspective. Management International Review, 43, 63-83.
Thomas, D.E. & Eden, L. (2004). What is the shape of the multinationality- performance relationship?. The Multinational Business Review, 12(1), 89– 110.
Tu, P. A., & Uyen, T. T. T. (2017). A Study of the Relationship between Internationalization and Firm Performance A Case-study of Firms in the Service Sector in Indonesia. VNU Journal of Science: Economics and Business, 33(1).
World Bank, 2017. Cameroon Country Report. Available at: [Accessed 10 October 2019].
Wu, D., Wu, X. & Zhou, H. (2012). International expansion and firm performance in emerging markets: evidence from China. Chinese Management Studies, 6(3), 509-528.