Sustainability-driven entrepreneurial internationalization : exports, outward FDI and divestment
| dc.contributor.advisor | Kottaridi, Konstantina | |
| dc.contributor.advisor | Κοτταρίδη, Κωνσταντίνα | |
| dc.contributor.author | Grigoriadi, Dafni | |
| dc.contributor.author | Γρηγοριάδη, Δάφνη | |
| dc.date.accessioned | 2025-11-05T09:25:47Z | |
| dc.date.available | 2025-11-05T09:25:47Z | |
| dc.date.issued | 2025-10-24 | |
| dc.identifier.uri | https://dione.lib.unipi.gr/xmlui/handle/unipi/18329 | |
| dc.format.extent | 158 | el |
| dc.language.iso | en | el |
| dc.publisher | Πανεπιστήμιο Πειραιώς | el |
| dc.rights | Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα | * |
| dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/3.0/gr/ | * |
| dc.title | Sustainability-driven entrepreneurial internationalization : exports, outward FDI and divestment | el |
| dc.type | Doctoral Thesis | el |
| dc.contributor.department | Σχολή Οικονομικών, Επιχειρηματικών και Διεθνών Σπουδών. Τμήμα Οικονομικής Επιστήμης | el |
| dc.description.abstractEN | This series of papers explores the determinants of extroversion, focusing on outward foreign direct investments (OFDI) and exports and its relationship with sustainable practices and entrepreneurship in Greece, a small Mediterranean country dominated by SMEs. In the current landscape of International Business (IB), data is constantly changing due to the complexity of global market operations, rising geopolitical and geo-economic risks, but also due to the challenges of sustainable development, such as climate change, regional regulatory variations, increasing pressure from investors, consumers, and stakeholders for sustainability commitment. In the first part of the research, we examine the link between sustainable development and internationalization (via OFDI and Exports). In recent years, there is increasing interest in understanding the reasons behind firms' engagement with ESG criteria. Sustainability and internationalization are not two separate paths – as companies with an international presence, both those with export activity and those with Outward Foreign Direct Investment (OFDI), are expected to grow globally and act responsibly. In order to confirm the positive impact of sustainable principles in extroversion and to assess whether this also applies to companies based in Greece, where academic research on the relationship between internalization and ESG is almost absent, we examine the performance of companies across the three core pillars of sustainable development Environmental, Social, Governance, while also including Economic Pillar. Results highlights that ESG functions as a mode-contingent set of capabilities rather than a uniform ownership advantage. For Greek firms, exports are strengthened by governance transparency, financial stability, and selected environmental initiatives, whereas outward FDI is mainly shaped by practices that build social legitimacy. In the second part, we investigate the impact of environmental sustainability practices on company’s divestment decision, a field that has not been extensively explored in the international literature. While divestment increasingly intrigues researchers (Alexander, Quinn, & Cairns, 2005; Arte &Larimo, 2019), we don’t know many about the reasons for market withdrawals (Arte &Larimo, 2019; Welch & Welch, 2009; Yayla, Yeniyurt, Uslay, & Cavusgil, 2018). According to Ameyaw et al (2023) researchers Kotabe&Ketkar, 2009; Silva & Moreira, (2019) support that foreign divestment theories remain relatively underdeveloped, primarily due to the challenges associated with collecting divestment data, whether qualitative or quantitative. By making the distinction between Innovation Environmental Sustainability (IES) and Business Environmental Sustainability (BES) proposing a new typology of disinvestment strategies based on business objectives. Results clearly indicate that Business Environmental Sustainability (BES) is a significant predictor of the divestment decisions. The study also investigates the philosophical exploration of ESG motivations. Specifically, we examine Greek companies, both those with OFDI and those without, to determine what is the main reason for following sustainable development standards, defining three types of motivations. Economic, ethical and necessity driven. Their average scores indicate that Greek companies, especially those with OFDI, have stronger financial incentives than ethical ones. Going further, we created the Moral ESG Index for each of the groups, as it appears that the ethical commitment to implementation of ESG criteria differs depending on whether the company operates internationally or operates in the domestic market, proposing a new typology of ESG motivations based on moral objectives. | el |
| dc.subject.keyword | OFDI | el |
| dc.subject.keyword | Exports | el |
| dc.subject.keyword | ESG | el |
| dc.subject.keyword | Divestment | el |
| dc.subject.keyword | Sustainability | el |
| dc.subject.keyword | Internationalization | el |
| dc.date.defense | 2025-10-24 |
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Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα