Digitalization, Services Export, and Fintech: The Second Seminar by IDLab and Iran University of Science and Technology Has Taken Place
On December 17, 2025, the second joint seminar between the International Laboratory of Intangible-driven Economy (IDLab) and Iran University of Science and Technology took place. The seminar was held as part of the research project titled “The Role of Intangible Resources in the Internationalization of Firms from Developing Countries under Exogenous Shocks,” implemented with the support of the Competition of Joint Basic Research Projects ‘International Academic Cooperation of HSE University’.
The purpose of this seminar was to discuss and synthesize findings from leading international studies of recent years that examine the impact of digital technologies, intellectual capital, and financial innovations on the international market entry strategies of firms from developing countries. The presentations were of a review-analytical nature and aimed at shaping a shared research agenda for future collaborative work.
Digitalization as a Prerequisite for Effective Internationalization
The first presentation was delivered by Egor Ivanov, Junior Research Fellow at IDLab, who reviewed the study by Bhandari et al. (2023), “Digitalization, Internationalization, and Firm Performance: A Resource-Orchestration Perspective on New OLI Advantage.” The authors demonstrate that digitalization alone does not guarantee improved firm performance — its effect is nonlinear. Substantial benefits emerge only once a firm reaches a high level of digital maturity. Furthermore, international engagement (measured by the share of foreign sales) and the scale of foreign direct investment (FDI) in the firm’s home country amplify the positive impact of digitalization on performance outcomes
How Digital Technologies Are Transforming Services Export
Evgenia Shenkman, Junior Research Fellow at IDLab, presented an analysis of the article by Kong et al. (2024), “How Does Digital Technology Affect Export in Services?”, published in the Journal of Asian Economics. The study demonstrates that digital technologies — both in a narrow sense (e.g., AI, blockchain, IoT) and a broad sense (digital infrastructure, platforms, and digital components) — have a positive impact on services exports. The effect is most pronounced in service formats that can be delivered remotely or through the establishment of overseas business operations. The authors identify key mechanisms driving this impact: enhanced cross-border “portability” of services, reduced information barriers through digital platforms, and the emergence of new business models. However, the influence of digitalization on services exports that require the physical movement of specialists abroad appears to be limited.
Fintech as a Driver of Small Business Internationalization
In the concluding presentation, Zeinab Zamani (PhD student at Iran University of Science and Technology) presented a systematic review of Cumming, Johan & Reardon (2023), “Global Fintech Trends and Their Impact on International Business,” published in the Multinational Business Review. The focus was on the role of fintech solutions — such as peer-to-peer (P2P) lending, crowdfunding, and mobile payments — in facilitating the internationalization of small and medium-sized enterprises (SMEs). These tools help reduce transaction costs, broaden access to financing, and simplify entry into international markets, particularly in developing countries. At the same time, the authors highlight risks associated with regulatory fragmentation, cybersecurity, and data protection.
The project “Internationalization of Companies from Developing Countries: The Role of Intellectual Resources in Response to Exogenous Shocks” is implemented within the framework of the HSE University Competition of Joint Basic Research Projects “International Academic Cooperation.”
