英文文献翻译.doc

英文文献翻译 PAGE \* MERGEFORMAT 13 The impact of geographic diversification on export performance of small and medium-sized enterprises (SMEs) Published online: 12 February 2012 # The Author(s) 2012. This article is published with open access at S Jerzy Cie?lik Eugene Kaciak Dianne H. B. Welsh 1. Abstract Two alternative diversification strategies—the geographic diversification of export sales and key market concentration—are extensively discussed in management, strategy, entrepreneurship, and economics literature. However, no conclusive evidence currently exists as to how either of these strategies affects the performance of international sales. This paper contributes to a better understanding of geographic diversification as a key dimension of the internationalization process for small and medium-sized enterprises (SMEs). In it, we analyze a comprehensive database of Polish exporters over a 3-year period to better understand the geographic diversification patterns of exporters. Based on this analysis, six propositions emerged from the export patterns examined and two viable strategies for exporting SMEs are identified: (1) concentrating on a single market and (2) a balanced approach aimed at targeting a small number of key markets, combined with a strategy of penetrating other markets. Implications for practice and future research are also discussed herein. Keywords：Exports，Geographic diversification，Market concentration，High-growth firms 2. Introduction The scope of geographic diversification of the international operations of firms is discussed in management, strategy, entrepreneurship, and economics literature as a key dimension of the internationalization process. It has been argued that by increase ing the number of export markets (i.e., adding to the breadth of internationalization),a company’s internationalization effort becomes more intense and deepens, a process that is typically measured by foreign sales/total sales ratio (FSTS, Thomas and Eden 200