Between two shores: Export strategy and financial performance of 1.5-generation immigrant entrepreneurs

• Examine how the arrival age and export orientation jointly influence the financial performance of immigrant-led SMEs. • 1.5-generation immigrants outperform adult-arrivals, both when targeting their country of origin and other foreign markets. • The advantage is amplified under greater institutional distance between the country of residence and country of origin. • 1.5-generation immigrant entrepreneurs can turn their “between two shores” identity into a competitive advantage.