{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,6,2]],"date-time":"2026-06-02T20:15:35Z","timestamp":1780431335823,"version":"3.54.1"},"reference-count":53,"publisher":"MDPI AG","issue":"7","license":[{"start":{"date-parts":[[2021,11,13]],"date-time":"2021-11-13T00:00:00Z","timestamp":1636761600000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"funder":[{"DOI":"10.13039\/501100001809","name":"National Natural Science Foundation of China","doi-asserted-by":"publisher","award":["71972075"],"award-info":[{"award-number":["71972075"]}],"id":[{"id":"10.13039\/501100001809","id-type":"DOI","asserted-by":"publisher"}]},{"name":"the Humanities and Social Science Fund of Ministry of Education in China","award":["19C10276025"],"award-info":[{"award-number":["19C10276025"]}]},{"name":"Science Research Program of The East China University of Political Science and Law","award":["20HZK017"],"award-info":[{"award-number":["20HZK017"]}]}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["JTAER"],"abstract":"<jats:p>Implementing international strategy is essential to enhance corporate innovation and achieve sustainable development. Existing research has theoretically illustrated the concept and importance of carrying out both exploratory and exploitative internationalization, yet our understanding of the antecedents and consequences of both activities remains unclear. Based on the data of Chinese international manufacturing firms, this paper examines the differential effects of business, government and knowledge network capital on exploratory and exploitative internationalization, and probes into how organizational, strategic, and environmental factors moderate the innovation effectiveness of exploratory and exploitative internationalization. Results indicate that business network capital has the same positive impact on exploratory and exploitative internationalization; government network capital influences the implementation of exploratory internationalization, whereas knowledge network capital influences the execution of exploitative internationalization. Furthermore, our findings reveal that, to maximize innovation performance, pursuing exploratory internationalization is more beneficial for firms with older age, firms entering into countries with low host\u2013home country similarity, and operating in a more dynamic international environment. By contrast, pursuing exploitative internationalization is more effective for younger firms, firms entering into countries with high host\u2013home country similarity, and in more stable international environment. Theoretical and managerial implications are discussed.<\/jats:p>","DOI":"10.3390\/jtaer16070170","type":"journal-article","created":{"date-parts":[[2021,11,14]],"date-time":"2021-11-14T20:48:36Z","timestamp":1636922916000},"page":"3120-3135","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":2,"title":["Exploratory and Exploitative Internationalization: Effects of Social Capital Antecedents and Fit Moderators of Innovation Consequence"],"prefix":"10.3390","volume":"16","author":[{"given":"Hang","family":"Wu","sequence":"first","affiliation":[{"name":"School of Economics, Jiaxing University, Jiaxing 314001, China"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Yiying","family":"Qu","sequence":"additional","affiliation":[{"name":"Business School, East China University of Political Science and Law, Shanghai 200042, China"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"1968","published-online":{"date-parts":[[2021,11,13]]},"reference":[{"key":"ref_1","doi-asserted-by":"crossref","first-page":"2678","DOI":"10.1016\/j.jbusres.2015.11.003","article-title":"Dynamic capabilities as a mediator linking international diversification and innovation performance of firms in an emerging economy","volume":"69","author":"Wu","year":"2016","journal-title":"J. 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