Are entrepreneurial foreign activities of Peruvian SMNEs influenced by international certifications, corporate social responsibility and green management?

Given the crucial role of entrepreneurial foreign activity as a source of corporate profits and competitive advantage, it is of interest to investigate which factors may help promote it. This paper evaluates whether entrepreneurial foreign activities of small and medium-sized multinational enterprises (SMNEs) of Latin American developing countries are affected by international certifications, corporate social responsibility and green management. To that aim, we use a sample of 100 Peruvian exporting firms from several sectors and a methodology consisting of partial least squares structural equation modeling. Results reveal that, while acquiring and holding international certifications as well as the investments carried out in actions related to corporate social responsibility do not have positive effects on the performance of entrepreneurial foreign activities of Peruvian SMNEs, green management exerts a positive influence. Therefore, environmental management is revealed as an effective tool to help firms from developing countries compete successfully in the markets and, in turn, improve the economic situation in those regions.