Unveiling the Drivers of Entrepreneurial Internationalization: The Role of Human Capital, Digitalization, and Psychological Traits in Moroccan Early-stage Entrepreneurs

Abstract

This study examines the factors influencing the internationalization of early-stage Moroccan entrepreneurs, focusing on human capital, digitalization, and psychological traits. Drawing on Human Capital Theory, Dynamic Capability Theory, and Psychological Theories of Entrepreneurship, the research aims to explore how education, digitalization, fear of failure, self-efficacy, and opportunity perception impact export intensity. Using data from 524 early-stage entrepreneurs surveyed by the Global Entrepreneurship Monitor (GEM), the study employs multiple regression analysis to evaluate the relationships between these factors and export activity. The findings reveal that opportunity perception significantly and positively influences export intensity, highlighting the critical role of entrepreneurial alertness in fostering internationalization. Conversely, education demonstrates a significant negative effect, suggesting that higher education levels may increase risk aversion, potentially deterring engagement in global markets. Surprisingly, digitalization, fear of failure, and self-efficacy do not show significant direct effects on export intensity,  with the non-significant effect of digitalization reflecting context-specific challenges, such as limited strategic use, infrastructure gaps, and insufficient digital literacy. The study highlights the need for fostering opportunity recognition and aligning education with practical skills. It calls for investments in digital infrastructure, training, and entrepreneurial ecosystems to empower entrepreneurs in emerging economies.