Abstract
The literature on Chinese firms suggests that a major objective of internationalization is to compensate for latecomer disadvantages. Thus, asset exploration rather than asset exploitation is the dominant motive for moving abroad. In doing so, companies need to engage constantly in innovation, or, more generally, value-creation trajectories to develop cutting-edge technology and enhance their product portfolio. In this article, I introduce a model with research propositions on how firms engage in internationalization-innovation trajectories. An ambidexterity perspective is suggested to balance these strategies. Insights from 30 companies’ annual reports over five years are presented. Results confirm that Chinese firms follow ambidextrous strategies and complement internal process-oriented with external product-focused innovation.