The Effect of Intangible Resources and Competitive Strategies on the Export Performance of Small and Medium Sized Enterprises

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Regression Model	Independent Variable	Dependent Variable	R²	B	t value	ρ value	VIF	CD
CI
Intellectual Property Assets (IPA)	LPR	PERFORMANCE	0,678	0,316	7,838	0,000^*	1,354	58	7,348
Intellectual Property Assets (IPA)	QUALITY	PERFORMANCE	0,678	0,616	15,290	0,000^*	1,1354	58	7,648
Managerial Assets (MA)	COMEX	PERFORMANCE	0,826	0,870	30,663	0,000^*	1,233	131	6,650
	RISK			0,040	1,012	0,313	1,190		7,049
	INNO			0,096	2,450	0,015^*	1,232		11,389
Network Assets (NA)	CO	PERFORMANCE	0,688	0,740	16,231	0,000^*	1,763	96	7,140
	AMC			-0,115	-3,207	0,002^*	1,096
	BMB			0,112	2,444	0,015^*	1,799		9,795
Differentiation Str.	DIFF	PERFORMANCE	0,019	0,135	2,282	0,023^*	1,000	27	5,184
Cost Leadership Str.	CL	PERFORMANCE	0,114	0,338	5,900	0,000^*	1,000	58	7,628
Competitive Export Strategies	DIFF	PERFORMANCE	0,217	0,358	5,943	0,000^*	1,508	81	4,177
Competitive Export Strategies	CL	PERFORMANCE		0,497	8,250	0,000^*	1,508		7,678

Table 7: Regression Analysis Results of the Effect of Intangible Resources and Competitive Export Strategies on the Export Performance

Hiararchical Regression Model	Dependent Variable	R	R²	R² Change	F Change	ρ value
a. Predictors: (Costant), LPR, Quality	PERFORMANCE	0,825^a	0,681		184,691	0,000^*
b. Predictors: (Costant), LPR, Quality, Risk, Inno, Comex		0,912^b	0,829	0,1480	78,966	0,000^*
c. Predictors: (Costant), LPR, Quality,		0,916^c	0,835	0,1540	4,303	0,006^*

32 Ömer Kumlu / Procedia - Social and Behavioral Sciences 150 ( 2014 ) 24 – 34

Risk, Inno, Comex, CO, AMC, BMB
a. Predictors: (Costant), IR	PERFORMANCE	0,916^a	0,835		170,869	0,000^*
b. Predictors: (Costant), IR and CES	PERFORMANCE	0,921^b	0,843	0,008	7,730	0,01^*

LPR: Legally Protected Rights, QUALITY: Quality Focus, COMEX: Committed Experience, RISK: Risk Handling, INNO: Innovativeness, CO: Customer (Export) Orientation, BMB: Being a Member of Business Group, AMC: Ability to Monitor Competitors, IR: Intangible Resources, CES: Competitive Export Strategeis, *Significant at 0,05

The Model Equation: PER = -0,711+ 0,748COMEX+ 0,173CO + 0,135LPR - 0,116QUALITY + 0,088CL

According to multiple regression results (see table 8) the variables “Innovativeness”, “Risk Handling” “Ability to Monitor Competitors”, “Being a Member of Business Group”, and “Differentiation” strategy are excluded from the model equation as they have statistically insignificant constants. The R² of final regression model is 0,849 so the model equation has very high explanation power with a statistically high significance. The model equation is as follows. As it can be seen from the equation the biggest contribution on PER comes from “Export Committed Experience” (COMEX). It’s constant (0,748) which is significantly higher than that of other variables. Second important one is “Export Customer Orientation” (CO) with the coefficient of 0,173. Interestingly it is found that PER decreases with “Quality Focus” (QUALITY). And finally "Cost Leadership" (CL) has very little effect on PER.

Table 8 Multiple Regression Output of All Independent and Dependent Variables

Regression Model	Independent Variable	Dependent Variable	R²	B	t value	ρ value	VIF
Multiple Regression Output of All Independent and Dependent Variables	CONSTANT	EXPORT PERFORMANCE (PER)	0,849	-0,711	-3,863	0,000^*
	QUALITY			0,116	-2,131	0,034^*	5,035
	LPR			0,135	4,337	0,000^*	1,646
	CO			0,173	3,192	0,002^*	4,967
	COMEX			0,748	13,139	0,000^*	5,547
	CL			0,088	3,337	0,001^*	1,172

*Significant at 0.05 Level

4. Conclusion

This paper provides an explanation for export process of SMEs from resource-based perspective. On the contrary to large firms, SMEs usually have limited resources, which restrain them to have a domestic focus and stay within their national boundaries. Therefore Aulakh et al. (2000) argued that many models developed based on large firms in the literature are not good fit for SMEs’ export business. In order to make a contribution to this deficiency the author of this paper proposed a model which explains the critical intangible resources and important competitive export strategies that influence export performance of small and medium-sized enterprises. According to regression analysis we found that eight out of nine hypotheses were supported. Only our hypothesis H_2.1 that is; “Differentiation strategy makes more contribution than Cost Leadership strategy on export performance” was not supported and “Cost Leadership” strategy comes out to have more contribution on perceived export performance. The results indicate that all the intangible resources (IPA, MA, and NA) and competitive export strategies (CES) play an important role on perceived export performance and intangible resources make more contribution than competitive export. Combination of intangible resources makes more contribution than the individual intangible resources on perceived export performance. On the contrary to Porter 's (1980) argument, our results showed that combination of competitive export strategies makes more contribution than individual strategies on export performance. In sum we may conclude that; companies which hold or gather these intangible resources and apply both differentiation and cost leadership strategy at the same time most probably reach its best export performance. In the final regression equation, we obtained very high explanation power with the R² of 0,849. As it can be seen from the equation the biggest contribution on “Perceived Export Performance” comes from “Export Committed Experience” with the coefficient of 0,748. This result strongly concludes that highly export committed firms with sufficient export experience will most probably succeed in exporting. The coefficient of “Quality Focus” comes out to be -0,116, which means that “Export Performance” decreases with “Quality Focus”. This result seems illogical and not confers with the previous researches. In our research “Cost Leadership” strategy comes out to have more contribution on perceived export performance. Therefore we may conclude that overemphasizing quality may be perceived by Turkish SMEs as increasing the cost and which result in low export performance.

This study and the developed export model for SMEs have important contributions to the world academy, companies and governments. From academic perspective this study brings additional steps for the theory development on the theory of export process of SMEs. As difference to previous studies intangible resources and competitive export strategies are integrated in the same setting and investigate their link to export performance. In international business literature researches about the link between competitive strategy and export performance is very rare and generally the market entry modes are accepted as strategy, our study contributes additional knowledge to this defficiency. Network

Ömer Kumlu / Procedia - Social and Behavioral Sciences 150 ( 2014 ) 24 – 34

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Resources are also included into the model, which is generally lacking in the literature. The proposed model and findings are also very helpful for the SMEs managers, and the government export officers. SME owners and/or managers may use the proposed model to their firms and pay particular attention to develope these intangible resources to improve their export performance.

There may be some limitations to this study. First, the questionnaires were being sent to managers of the exporters from the list obtained from IGEME's website so self-selection bias may exist because the randomness of the respondent firms cannot be assured. Second limitation may arouse from measurement scales as the scales were obtained from literature which are English in language, they were translated into Turkish. These translated questions may be perceived as different by the respondents. In order to generalize the results further researches needed. Future studies might consider conducting a cross national study or focus on firms from other sectors. It is possible to re-evaluate the literature to find other critical resources or competitive export strategies or find other appropriate scales. In this research intangible resources and competitive export strategies are used as independent variable, another research may be designed as assigning one of them as moderator or mediator variable to other.

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