Abstract

Purpose: This study empirically examines the determinants of business performance among Korean export firms in the distribution sector during the COVID-19 pandemic. The study compares two types of internationalized firms—Traditional Internationalizers (TIs) and Born Globals (BGs)—based on different paths of internationalization. Research design, data and methodology: Drawing on the Resource-Based View, Dynamic Capabilities Theory, and Network Theory, this study uses Export Capability, Human Capital, and International Customer Quality as independent variables. Control variables include firm size, firm age, and export intensity. The analysis is based on 664 firms from KOTRA’s Global Competency Level Test data, using factor analysis, correlation, and multiple regression. Results: The findings show that Export Capability and International Customer Quality positively affect business performance in both TIs and BGs. Human Capital significantly influences BGs’ performance but not that of TIs. Firm size and export intensity were also found to be positively related to business performance. Conclusions: The results suggest that export-oriented capabilities and global buyer quality are key performance drivers regardless of internationalization type. For Born Globals in particular, securing globally competent human resources plays a critical role in overcoming structural limitations and enhancing early-stage international success.