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

Author

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  • Emil Velinov

    (Department of Marketing and Management, Skoda Auto University, 29301 Mladá Boleslav, 1457 Na Karmeli, Czech Republic
    Department of Business, RISEBA University of Applied Science, Meza 3 street, LV-1048 Riga, Latvia)

  • 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)

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.

Suggested Citation

  • Emil Velinov & Milan Maly & Yelena Petrenko & Igor Denisov & Vasko Vassilev, 2020. "The Role of Top Management Team Digitalization and Firm Internationalization for Sustainable Business," Sustainability, MDPI, vol. 12(22), pages 1-11, November.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:22:p:9502-:d:445374
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    References listed on IDEAS

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    Cited by:

    1. Kathryn Cormican & Chen Meng & Suzana Sampaio & Qiong Wu, 2021. "Towards Sustainable Knowledge Sharing Practices: An Analysis of Organizational Level Enablers," Sustainability, MDPI, vol. 13(23), pages 1-18, November.
    2. Velinov Emil & Štrach Pavel, 2022. "Diversity and Inclusion Practices as a Booster for Firm Sustainability: Evidence from the Czech Automotive Sector," Review of Economic Perspectives, Sciendo, vol. 23(1), pages 71-88, December.
    3. Luis Moreira & Anderson Rei Galvão & Vitor Braga & Alexandra Braga & Jaime Teixeira, 2023. "Sustainability as a Gateway to Textile International Markets: The Portuguese Case," Sustainability, MDPI, vol. 15(5), pages 1-20, March.
    4. Mark Geoghegan & Kathryn Cormican & Qiong Wu, 2021. "Sustainable Team Design: A Challenge to Traditional Beliefs in Information-Intensive Service Industries," Sustainability, MDPI, vol. 13(24), pages 1-19, December.
    5. Feliciano-Cestero, María M. & Ameen, Nisreen & Kotabe, Masaaki & Paul, Justin & Signoret, Mario, 2023. "Is digital transformation threatened? A systematic literature review of the factors influencing firms’ digital transformation and internationalization," Journal of Business Research, Elsevier, vol. 157(C).

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