Analysis shows cognitive diversity enhances financial returns in immigrant-owned ventures, indicating export strengths may change with non-immigrant partnerships.
Immigrant‐owned international new ventures (INVs) often partner with non‐immigrant entrepreneurs as co‐owners. Their mixed immigrant‐nonimmigrant teams could engender varied perspectives. But it is unclear whether such cognitive diversity improves their international strategy and performance. We develop a cognitive framework to resolve this issue. It relates the export and financial effects of INV teams to their cognitive diversity and flexibility. Based on an analysis of 524 Canadian new ventures from 2011 to 2015, we show that initial immigrant‐majority teams positively impact INVs' country‐of‐origin export intensity and the associated financial returns. Meanwhile, subsequent non‐immigrant co‐ownership reverses this export trend but amplifies the financial returns.
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Morgan et al. (2025) studied this question.
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