This research is based on the perception that the explanation of International New Ventures' (INVs) performance demands a process view, going deeper than the standard approach, in empirical papers, of testing a direct relationship between company-level antecedents and performance. A three-tier model was developed to investigate the process leading to INVs international performance, emphasizing the role of entrepreneurial alertness. Based on the dynamic capabilities framework, entrepreneurial alertness was envisaged as the mediating element between firms' capabilities and their international performance. Empirical research confirmed the hypothesized model. Firms' capabilities (entrepreneurial orientation, foreign market knowledge, and absorptive capacity) significantly influence the level of entrepreneurial alertness, which impacts on the levels of self-reported satisfaction with the company's international performance. The paper makes four contributions to International Entrepreneurship literature. First, it highlights the key role played by entrepreneurial alertness in explaining INVs' international performance. This is convergent with the dynamic capabilities view on firms' ability to sense and seize specific international business opportunities. Second, this study considers entrepreneurial alertness as a capability that is not limited to the entrepreneur, but it is an organizational capability. Third, it shows that entrepreneurial alertness does not exist in the vacuum, is based on a set of base capabilities, namely entrepreneurial orientation, foreign market knowledge, and absorptive capacity, that simultaneously leverage the INVs to sense possible opportunities and constrain the focus of opportunities to international markets, as a key element to foster INVs' higher performance. Fourth, it underlines the role of technological turbulence as a moderator of the relationship between entrepreneurial alertness and INVs' international performance.

这项研究基于这样一种观点，即对国际新创企业 (INV) 绩效的解释需要一个过程视图，比实证论文中的标准方法更深入，以测试公司层面的前因与绩效之间的直接关系。开发了一个三层模型来调查导致 INV 国际表现的过程，强调企业家警觉性的作用。基于动态能力框架，企业家的警觉性被设想为公司能力与其国际绩效之间的中介因素。实证研究证实了假设的模型。企业的能力（创业导向、国外市场知识和吸收能力）显着影响创业警觉程度，这会影响自我报告对公司国际业绩的满意度。这篇论文对国际创业文学做出了四项贡献。首先，它强调了企业家的警觉性在解释 INV 的国际表现中所起的关键作用。这与关于公司感知和抓住特定国际商业机会的能力的动态能力观点趋同。其次，本研究将企业家的警觉性视为一种不限于企业家的能力，而是一种组织能力。第三，它表明创业警觉性并不存在于真空中，是建立在一套基础能力之上的，即创业导向、国外市场知识和吸收能力，同时利用 INVs 感知可能的机会并将机会的焦点限制在国际市场上，这是促进 INVs 更高绩效的关键因素。第四，它强调了技术动荡作为企业家警觉性与 INV 国际绩效之间关系的调节剂的作用。