The impact of home institutions on the internationalization of emerging market SMEs: a systematic review

Abstract

Purpose The purpose of this paper is to review literature on home-country institutional factors influencing the internationalization of small and medium-sized enterprises (SMEs) from emerging markets. Based on the analysis, the authors propose a research agenda to guide future studies in this field. Design/methodology/approach This paper follows a systematic procedure to review 58 selected articles on how institutional contexts in emerging economies impact SME internationalization, covering studies from 1999 to 2023. This period was chosen to capture recent research following the post-1990 market liberalization in most emerging economies, which has shaped new opportunities and challenges for SMEs expanding abroad. Findings This literature review shows that SMEs’ internationalization knowledge in emerging markets is strongly shaped by home-country institutional conditions. Key mechanisms include imprinting by home institutions and learning from domestic institutional sources, both critical yet underexplored areas in SME development. These processes offer substantial opportunities for future research into how institutional contexts influence SMEs’ global growth. Originality/value This research builds on previous studies that have emphasized firm-level and external factors such as host market appeal, consumer needs and resource availability driving SMEs’ internationalization. Focusing on home institutional factors, the authors provide a comprehensive review of academic studies and propose a future research agenda on the external institutional influences shaping emerging market SMEs’ global expansion.

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