Research On The Relationship Between Executives' Overseas Background,Technological Innovation And Corporate Internationalization Performance

With the rapid development of China's economy and society,providing talent guarantee for high-quality development will be an important deployment to meet national strategies and industry needs during the period of economic transition.A series of policies to attract talents emerge in an endless stream between provinces and cities.Obviously,“attracting talents” and “using talents from the world” have become the key to China's promotion of core competitiveness in comprehensive national strength competition.The acceleration of international talent flow and the continuous improvement of China's talent system have attracted more and more overseas talents to return to China.It can be seen that high-level returnees are becoming an important driving force for Chinese enterprises to achieve innovative development and improve organizational performance.For multinational companies operating in the international market,the dual social network of returnees can not only reduce the information uncertainty in international trade,but also use the established business network to promote rapid internationalization.In view of the insufficiency of the existing research on the overseas background of top management team to improve the international performance of enterprises,based on the cognitive culture schema theory,upper echelons theory,Schumpeter 's innovation theory and knowledge-based theory,this paper puts forward the corresponding research hypothesis on the basis of theoretical analysis.Based on the sample of China's Shanghai and Shenzhen A-share listed companies,the sample company's 2010-2016 executive characteristics data was compiled.The propensity score matching(PSM)model was used to evaluate the average processing effect of CEO's overseas background,non-CEO's overseas background,executives' overseas education background and executives' overseas work background on the internationalization performance of enterprises.And from the perspective of technology innovation,exploring the mechanism of the overseas background of executives on internationalization performance.In order to fully understand the impact of executives' overseas background on the internationalization performance of the company,the article further discusses the heterogeneity of executives' overseas background in internationalization performance among enterprises with different ownership and productivity levels.The results show that:(1)The overseas background of top management team can promote the improvement of enterprise internationalization performance as a whole;compared with non-CEO executives,the overseas background of CEO executives has a more significant impact on corporate internationalization performance,and the overseas work background have a stronger impact on corporate internationalization performance than the educational background.On the basis of adjusting the measurement method of top management teams' overseas background,a series of robustness tests have been carried out in this paper.The results show that the conclusions of this study have a certain robustness.(2)This paper constructs a mediating effect model to explore the influence channels of the overseas backgrounds of executives on the internationalization performance of enterprises from the perspective of technological innovation.The results show that technological innovation plays a mediating role between the overseas backgrounds of executives and the internationalization performance,that is,the overseas backgrounds of executives can promote the internationalization performance of enterprises by improving the level of technological innovation.(3)The results of grouping test show that compared with non-state-owned enterprises,the overseas background of executives has a more positive impact on the international performance of state-owned enterprises;moreover,the overseas background of top managers of high-productivity enterprises has a more significant effect on the improvement of the international performance than that of low-productivity enterprises.These conclusions have certain enlightenment significance for our government and enterprises to give full play to the knowledge spillover effect of returnee executives,speed up the enterprises' pace of “going out”,and improve China's participation in the international market during the process of attracting high-level overseas talents.