The existence of W-shaped relationship between internationalization and firm performance An empirical study of enterprises in Cameroon

摘要

This study aims at investigating the relationship between the degree of internationalization and firm performance in Cameroon. Based on a panel dataset of 114 firms surveyed by the World Bank from 2009 to 2019, the regression results find evidence that there exists a relationship between internationalization and performance with respect to the W-shape while the model controls the characteristics of the business environment and firm characteristics. This result has confirmed the impact of internationalization on the firm performance going through 4 stages (W-shaped). We draw a number of implications for the study of internationalization in both theory and practice.