Export commitment and the global financial crisis: perspectives from the New Zealand wine industry
The study investigates how firms adjusted their export commitment in response to the recent global financial crisis. Findings based on New Zealand wine companies suggest that firms' commitment to exporting is influenced by both their export performance achieved before the crisis and the negative effect that the crisis exerted on their subsequent export performance. These two performance-induced influences can be further moderated by managerial attitude toward exporting and managers' perceptions of export market uncertainty. Theoretically, the study builds on the behavioral theory of the firm and extends the past performance-strategy relationship to the situation of exporting in a financial crisis.