Cognition and international entrepreneurship: implications for research on international opportunity recognition and exploitation

International entrepreneurship (IE) research has grown rapidly, encompassing many industries and world regions. Past IE research has examined the macro, industry and firm-specific variables that lead to companies' early internationalization and its financial and non-financial outcomes. Most prior IE research has been correlational in focus and static in design. Focusing on early internationalization, we propose that a significant shift can occur in IE research by applying a cognitive perspective and examining how entrepreneurs recognize and exploit opportunities in international markets. A cognitive approach will allow researchers to probe entrepreneurs' motivations to internationalize and capture their mental models. The article highlights the benefits to be gained from and the challenges associated with using a cognitive approach to IE research. (c) 2004 Published by Elsevier Ltd.