Executive Political Connections,Overseas Experiences And Business Innovation Effectiveness

In recent years,with the growth of overseas direct investment(ODI),the global value chain extension and reconstruction,research and development activities "modular",outsourcing trends and other reasons,emerging market multinational enterprises(EM MNEs)represented by China have accelerated the establishment of overseas R&D institutions in developed and emerging economies.As a "catcher" of a late country,how to build an overseas R&D network better according to China's special situation and enhance the enterprises' innovation performance is an important problem for the enterprises.At present,many scholars study more about the impact of the characteristics of business managers on the innovation performance of enterprises(including age,gender,education level,education level,etc.).Few literature based on the actual situation of overseas research and development of Chinese enterprises,studying corporate executives political relations,overseas experience,the two managers on the enterprise innovation performance characteristics.There is less literature to explore the differences of the impact of executives' political connections and overseas experiences on the innovation performance of enterprises in different overseas R&D situations.First of all,this paper studies the influence of senior executives' political connections and overseas experiences on enterprises's innovation performance.Then,using the motivation of overseas research and development as a regulatory variable,the motivation of overseas research and development is divided into development and utilization,exploration learning and two-way learning,It explores the influence of different enterprises' motivation of overseas research and development,the political connection of executives and the overseas experience on the enterprises's innovation performance.First of all,on the basis of theoretical literature,this paper takes ZTE,Lifan shares,Wanfeng Auto as examples to illustrate the strategic differences(or similarities)between enterprises in developed and emerging economies.Secondly,in this paper,a total of 134 listed companies with one or more overseas R&D subsidiaries(or institutions)from 2009 to 2014 were selected as listed in Shanghai and Shenzhen A-share listed companies.This study uses the negative binomial regression model and find that:(1)Overseas R&D has a positive impact on the enterprises' innovation performance.With the development of learning overseas R&D investment as a reference group,the exploration and learning overseas R&D investment has a more significant effect on the promotion of enterprise innovation performance.(2)For the development and utilization of overseas R&D investment,executives' political connections and overseas experience have a positive impact on the enterprises' innovation performance.(3)For the exploration and learning overseas R&D investment,executives' political connections have a negative impact on the enterprises' innovation performance.Executives' overseas experience has a positive impact on the enterprises' innovation performance.Finally,this paper puts forward relevant theoretical and practical enlightenment on the overseas research and development of Chinese enterprises,the political association of executives,and the attractiveness of talents according to the research conclusion.