The strategic impact of top management teams on business internationalization: a bibliometric review

Internationalization is a complex business phenomenon that has become increasingly relevant in today’s globalized context. This study compiles and analyzes key academic research using bibliometric methods to identify patterns, trends, and gaps in the existing literature. The review emphasizes the crucial role of Top Management Teams in formulating and implementing internationalization strategies. It examines essential aspects such as team composition, diversity, members’ international experience, and strategic decision-making processes. The findings indicate that the proper configuration and dynamics of senior management teams can significantly determine the success or failure of internationalization strategies. Moreover, the study identifies emerging research areas and proposes future directions to advance understanding in this field. It goes beyond a bibliometric review by suggesting research questions such as: What mechanisms within internationalization theory explain the functioning of TMTs? How is strategy theory applied in multinational enterprises? From an applied perspective, it recommends verifying in developing regions prior studies conducted in Europe, to assess the interactive effects of TMTs on firms’ international expansion performance. Overall, this research highlights the need for deeper analysis of the internal dynamics of top management teams in the internationalization process and encourages the exploration of innovative methodological approaches to enrich this growing field of study.