The convergence approach of institution based view toward the path of performance of the start-up in the foreign market

This study aims to converge the analysis of institution based view and knowledge based perspectives. Based on the literature review, this study proposed six hypotheses including the moderating effect of institutional characteristics. Hypothesis testing was conducted using PLS(Partial Least Square), which is a structural equation model for 101 start-ups sample. In empirical analysis, all external knowledge characteristics have a positive effect on the knowledge codification capacity. It also positively influenced the performance. The institutional characteristics showed a moderating effects with the novelty of external knowledge and knowledge codification capacity. This study contributes to integrating and analyzing the moderating effects of institution based characteristics with the factor of knowledge based view. Future research needs to analyze the institutional characteristics in a formal and informal way.