Abstract

Management decision to initiate or develop internationalization depends on the ability to take advantage of opportunities afforded by foreign markets. Factors determining whether these opportunities may be profited from are: access to information and the cognitive approach of the decision-making agent, namely the manager. In our research we explore which sources of information provide the stimuli impacting the decision to internationalize and assess the influence of management’s cognitive approach. To achieve this we conducted a survey amongst Spanish firms in the region of Castilla and León in two specific areas: “information technologies” and “natural stone”. Informative stimuli are split into three concepts (appealing factors, barriers and support) and we draw on several sources of information (Icex, Excal, Chambers of Commerce and trade associations). We address two cognitive areas: proactivity and level of knowledge. Findings highlight the relative importance of the different sources of information explored in the analysis. Our research also evidences how the information received by managers merges with their own cognitive approaches forming the basis to assess the factors impacting the decision to internationalize.