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At a time where firms encounter a “race for talent”, it is crucial for many MNCs to present themselves as attractive employers. Failing to position themselves in the international labor market can reduce firms' ability to acquire valuable international human capital, thereby generating disadvantageous organizational effects. Against this backdrop, drawing on signaling theory and employer branding literature, our paper aims to shed light on the association between nationality diversity in the executive suite and MNCs' employer attractiveness. Our lines of argument build on the notion that top management team composition can affect MNCs' efforts to promote diversity among their employees. This focus on diversity, in turn, can affect MNCs' employer attractiveness. Examining firms from various European countries, we find that top management team nationality diversity is positively associated with firms' employer attractiveness for foreign job seekers. We also show that a firm's efforts to promote diversity mediate the relationship between TMT nationality diversity and employer attractiveness. We therefore advance the academic debate on diversity as an employer branding tool and a means to enhance employer attractiveness. In practical terms, we also provide valuable insights for firms wishing to transform into (more) diverse entities.
This paper examines the relationship between Americanization and CEO pay levels in Europe and how this relationship is moderated by CEO power. Based on neo-institutional theory, our study provides empirical support for a link between Americanization and CEO pay levels. Drawing on a sample of large listed European firms, our results suggest that various dimensions of Americanization, i.e., Americanization of the CEO, of the firm and of the industry, can be associated with higher CEO pay. Combining neo-institutional approaches with managerial power perspectives, we show that Americanization can have an even stronger effect on pay when the CEO is powerful.
At the beginning of 2006, one of the biggest takeovers in the sporting goods industry took place: the leading German sporting goods company Adidas acquired its U.S. competitor Reebok. Building on an analysis of the sporting goods industry and the characteristics of Adidas and Reebok, the present case study explores the complexities of the cross-border acquisition. It outlines not only the motives and risks associated with the acquisition but also some major consequences for Adidas’ and Reebok’s strategy, structure and culture. In particular, the case study examines the brand positioning of Adidas and Reebok before and after the acquisition as well as the related challenges. Furthermore, it analyses the integration of Reebok into the Adidas Group between 2007 and 2017, especially in the context of increasing levels of competition, such as competition by industry rivals Nike and Under Armour.
Within the retail industry, the grocery discount segment has grown in importance during the last decades. Aldi and Lidl are the two leading grocery discounters worldwide. The present case study outlines the internationalization of Aldi and Lidl. Not only market entry strategies but also target market and timing strategies as well as the standardization-differentiation controversy are addressed.
In den Führungsetagen deutscher Großunternehmen ließ sich über Jahrzehnte hinweg eine starke Verbreitung des Doktortitels feststellen. Doch welche Rolle spielt der Doktortitel heutzutage unter den Vorständen und Aufsichtsräten der DAX-30-Unternehmen? Der vorliegende Beitrag zeigt, dass mit rund 45 % weiterhin ein hoher Anteil der Top-Manager promoviert ist. Es bestehen allerdings wesentliche Unterschiede zwischen einzelnen Branchen; zudem sind jüngere Top-Manager seltener promoviert als ältere Top-Manager.
This study examines whether and how top management internationalization is associated with accounting quality. We combine upper echelons perspectives, agency theory, human capital theory and accounting research, and demonstrate that top management internationalization mitigates the level of managerial discretion in financial reporting. By decomposing the top management team, our analysis reveals that higher levels of accounting quality are associated with the internationalization of the CFO, not the internationalization of the CEO. In particular, we find that CFO’s international education and international work experience are important factors in higher accounting quality.
In international business research, a growing number of studies are iestigating the internationalization of top managers and its consequences for firm-level outcomes. However, relatively little attention has been devoted so far to the antecedents of top manager internationalisation and to top manager internationalisation in different institutional contexts. The present study compares the internationalisation of top managers in Germany and the UK and argues that national institutional contexts influence the international profile of top managers human capital. Based on a sample of 931 individuals, we demonstrate that top managers nationality, international work experience and international board appointments vary significantly between Germany and the UK. Our paper has implications for international business research and upper echelons research because it contributes to a better understanding of the antecedents of top manager internationalization in different institutional contexts.
In recent years, there has been an increasing scholarly and practical interest in the internationalization of top management teams. It is argued that international firms need international top managers to meet the challenges arising from operating across borders. However, the few existing studies that focus on the link between top managers’ internationalization and firm performance yield inconclusive results. Thus, it is an open question if and to what extent international firms can benefit from international top managers. Drawing on upper-echelons theory, resource-dependence theory, and signaling theory, this paper examines how the stock market reacts to the appointment of an international top manager. Our empirical study of German firms employs an event study to analyze the direct impact of internationalization on a firm's stock price. Piecewise regression analysis reveals that a top manager's internationalization needs to exceed a certain threshold before iestors incorporate this individual characteristic into their iestment decisions. Furthermore, our analysis shows an ierted U-shaped relationship between internationalization and abnormal returns, suggesting that internationalization may have both positive and negative effects on a firm's stock price. We present several explanations for our empirical findings and discuss future research directions.