The Role of Top Management Team Digitalization and Firm Internationalization for Sustainable Business

Emil Velinov, Milan Maly, Yelena Petrenko, Igor Denisov and Vasko Vassilev
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Emil Velinov: Department of Marketing and Management, Skoda Auto University, 29301 Mladá Boleslav, 1457 Na Karmeli, Czech Republic
Milan Maly: Department of Management, University of Economics, Prague, sq. W.Churchil 3, 13067 Prague, Czech Republic
Yelena Petrenko: Academic Department of Management Theory and Business Technologies, Plekhanov Russian University of Economics, 117997 Moscow, Russian
Igor Denisov: Academic Department of Management Theory and Business Technologies, Plekhanov Russian University of Economics, 117997 Moscow, Russian
Vasko Vassilev: Department of Economics and Accountancy in Transport, Transport University “Todor Kableshkov”, 1574 Sofia, Bulgaria

Sustainability, 2020, vol. 12, issue 22, 1-11

Abstract: This paper aims to investigate the relationship between the existence of firm digitalization and firm internationalization in selected companies in the European Union (EU). The study provides evidence that upper echelon characteristics bring new competences and skills, including digital skills, which are essential for company internationalization in the modern world of turmoil, crisis and uncertainty. The research paper argues that top management team (TMT) characteristics, and particularly digitalization awareness and skills among the senior management, are critical factors for driving success in international markets and for the sustainability of the business. The dataset in this paper includes around one hundred executive and non-executive profiles in selected European countries, distributed in different industrial sectors. The empirical data have been collected from available online secondary sources on private companies in Germany, Sweden, Estonia, Latvia and Lithuania. The paper’s findings suggest that a relationship exists between TMT digitalization and firm internationalization. Additionally, the paper’s results illustrate that the companies with an on board Chief Information Officer or Chief Digitalization Officer tend to be more international in comparison to those which do not possess these two job positions in their top management.

Keywords: digitalization; internationalization; top management teams; sustainable (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:12:y:2020:i:22:p:9502-:d:445374

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