What role does CEO vision play in the internationalization process of firms? Evidence from the banking sector in Africa

Abstract

This study examines the cross‐border expansion of four major African banks from 1988 to 2014 in order to investigate the role of CEO vision in influencing their international investment decisions. The qualitative case study approach is complemented by a quantitative analysis that examines the multiple factors influencing internationalization patterns. The results from both types of analysis indicate that the vision of the CEO matters, and that it is a key factor in explaining the accelerated internationalization of three of the four banks examined in this study. These results stress the need for considering managerial decision making in international resource commitment decisions, particularly in an emerging market context, where a shared developmental vision might be shaping the behavior of the entrepreneurs.