Women in top echelon positions and firm internationalisation strategies: What do we know? How do we know? Where should we be heading?

While women in top echelon positions and firm internationalisation have been investigated separately for an extended period, the intersection between the two has seldom been explored. This study reviews 55 publications analysing the effect of women in top echelon positions on firm internationalisation. Our review relies on the ADO–TCM framework and the microfoundational approach. Following the Theories–Contexts–Methods (TCM) framework, previous research is outlined describing: (1) theories, i.e., gender-related theories; (2) contexts, i.e., women’s top echelon position and country where women operate; (3) methods, i.e., research methods, the consideration and measurement of gender, sample, and years. Following the Antecedents–Decisions–Outcomes (ADO) framework and the microfoundational approach, emerging findings are classified into: (1) antecedents of firm internationalisation by distinguishing between those related to microfoundation (i.e., characteristics of women in top echelon positions), the discrete context (i.e., firm characteristics), and the omnibus context (i.e., characteristics of the countries of origin, destination and public stimulation programmes); (2) characteristics of the decisions regarding firm internationalisation (i.e., entry mode, export propensity, and propensity to foreign direct investments); (3) outcomes of firm internationalisation (i.e., export intensity, percentage of foreign equity ownership, number of foreign direct investments, number and characteristics of destination countries, investment success and performance, and other outcomes). Based on this, research gaps are identified and a research agenda is offered.