In this paper, we investigate how multiple principal wicked problems (MPWP) adversely affect the export performance of emerging market firms (EMFs). EMF exports primarily depend on either of two export strategies, namely, (i) innovative capabilities or, more importantly, (ii) import of critical components from developed economies. The dependence of emerging markets, in general, on strategic imports is often attributed to the legacy of resource constraints and technological limitations from a colonial past. The choice to adopt either or both of the export strategies for export performance, depends on the conflicting objectives cum influence of the dominant investors. Empirically modelling a panel data of 2171 Indian firms over 31 years (1988 – 2019), we highlight that for EMFs, when exposed to multiple principals with conflicting objectives, the said choice becomes wickedly problematic. That, in turn, adversely affects the export performance of EMFs. Our study on MPWP complements the agency perspective and calls for further investigation into specific governance mechanisms.
