The Interplay of Internationalization Drivers in Enhancing SME Resilience: Evidence From the Brazilian Market

Global markets have become increasingly volatile due to disruptions such as economic crises, the pandemic, and recent geopolitical tensions. Given their limited resources, internationalized Small and Medium-sized Enterprises (SMEs) are considered particularly vulnerable when engaged in cross-border activities. Despite this, some of these firms exhibit notable resilience, prompting academic inquiry into the factors behind such heterogeneity. While prior studies investigated the effects of key internationalization factors on the firm’s resilience using linear models, they often overlooked how the combination of these factors yields a resilient presence abroad. As a result, it fails at capturing the configurational and non-linear nature of resilience. This study addresses that gap by adopting a Qualitative Comparative Analysis (QCA) approach to examine how combinations of internationalization-related capabilities contribute to SME resilience. This study offers a deeper understanding of causal complexity among internationalization factors and pathways SMEs can leverage to enhance resilience in the face of global disruptions.