Research On The Impact Of Managerial Overseas Experience On Corporate Innovation Performance

Corporate innovation performance is a key measure of corporate competitiveness and company value,so promoting innovation is a goal pursued by companies.As decision-makers,top managers directly affect corporate innovation.As a special managerial characteristic,overseas experience relates to innovation performance.This paper reviews relevant literature,combines normative research with empirical research.Based on upper echelons theory,rational economic man hypothesis and behavioral finance theory,it attempts to analyze the impact of managerial overseas experience on corporate innovation performance from multiple perspectives such as "imprinting effect" and cultural conflicts.This paper uses the samples of listed companies from 2010 to 2018,selects the characteristics of managerial overseas experience data as explanatory variables,and corporate R&D investment and patent output are agency variables of innovation performance.Empirical analysis is used to verify the relationship between overseas experience and corporate innovation performance,and the impact of overseas experience type,executive positions,firm ownership,and industry characteristics on the relationship.The study found that the managerial overseas experience promotes corporate innovation performance significantly,reflected in the R&D input and patent output.Both overseas work and study experience have a positive effect on innovation performance,but work experience has a greater impact;when the manager is the CEO,the overseas experience can significantly promote R&D input,but has no significant impact on patent output;"returnees" executives' impact on innovation output is more pronounced in stateowned companies,while no significant difference in input between state-owned and nonstate-owned companies;compared with high-tech industries,"returnees" executives promote innovation performance in non-high-tech industries more significantly.After a series of robustness tests such as PSM method and substitution variables,the conclusions are still robust,indicating that executives with overseas experience have played an important role in corporate innovation activities.Based on the results,this article finally provides recommendations for the introduction and management of "returnees" executives from several aspects,and proposes research limitations and future prospects.