Microfoundations of network exploration and exploitation capabilities in international opportunity recognition

While international entrepreneurship (IE) recognizes opportunity recognition (OR) as a central activity and the prominent role of network capabilities in OR, it is not informative to how different influence OR markets. We utilize dual capability through lens exploration-exploitation better understand these two identification opportunities. Given that microfoundations perspective prior experience IE are under-developed under-theorized, we explore founder’s an essential microfoundation for capability. By employing structural equation modeling on sample 647 early internationalizing firms from developing country, study demonstrates founders’ significant OR. However, both exploration exploitation fail bring new opportunities changing market environment. A post-hoc analysis reveals at higher level change, younger benefit more exploration, whereas older achieve greater success when leveraging benefits exploitation. The concludes with implications future research avenues.