Board diversity and firm internationalization: the case of Italy

Internationalization is seen as a process of firm-level entrepreneurial behaviors, therefore all organizations should show high levels of international market orientation, but even more should be the team of decision makers that are driving company’s strategy. The goal of our study is to verify the impact of board director demographic characteristics, as discussed in Upper Echelons and International Entrepreneurship field of studies, and firm degree of internationalization. The analysis of 40 Italian companies quoted at FTSE Mib, Milan Stock Exchange, confirms the importance of Top Management Team national diversity and international experience when associated with international education to improve degree of internationalization.