Chief marketing officers’ discretion and firms’ internationalization: An empirical investigation
V. Kumar (),
Sourav Bikash Borah (),
Amalesh Sharma () and
Laxminarayana Yashaswy Akella ()
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V. Kumar: Indian School of Business
Sourav Bikash Borah: Indian Institute of Management Ahmedabad
Amalesh Sharma: Mays Business School, Texas A&M University
Laxminarayana Yashaswy Akella: Indian Institute of Management Ahmedabad
Journal of International Business Studies, 2021, vol. 52, issue 3, No 2, 363-387
Abstract The role of key individuals, such as the chief marketing officer (CMO), in the internationalization process has largely been ignored in the international business literature. Given the importance of the CMO in internationalization and to address this gap in the literature, this study focuses on the role of the CMO – a key individual in organizations who, with adequate levels of discretion, can act as a conduit of knowledge in international markets, facilitating the internationalization of the firm. Drawing on the literature on managerial discretion, internalization theory, and its microfoundations, we argue that the CMO's strategic, operational, and financial discretion, respectively, have positive yet diminishing effects on internationalization. Further, the international experience of the top management team (TMT) and the CMO’s equity compensation moderate these relationships. We contribute to internalization theory and the growing body of literature on the role of the TMT and CMO.
Keywords: chief marketing officer; internalization theory; microfoundation; internationalization; discretion (search for similar items in EconPapers)
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