Overseas Background Of Executives And Environmental Protection Investment Of Enterprises

How to realize the balanced growth of ecology and economy,one of the focuses of contradiction is obviously in the enterprise.How to balance the economic benefits and environmental issues,in the enterprise,one of the most realistic issues is how to do a good job in environmental protection investment.The enterprise is an important micro subject of environmental protection investment.Its environmental protection investment behavior is not only of great significance to the sustainable growth of economy at the macro level,and of positive significance to the sustainable growth of the enterprise itself.In the final analysis,the behavior of an enterprise is the behavior of human beings,especially the action will of its executives.The knowledge structure,values and psychological preferences of managers play an important role in the strategic choice of enterprises,which will have a great impact on all activities including environmental protection investment decision-making.Therefore,it is of special significance to study the impact of background characteristics of executives for environmental protection investment.In recent years,the central and local governments have provided a series of preferential policies and convenient conditions to encourage overseas high-end talents to return to China for development.The demand for high-end talents in various industries has increased,and a large number of overseas talents choose to return to China for employment and entrepreneurship.Based on this reality,the paper studies the relationship between the overseas background of the executives and the environmental protection investment.The most relevant theories are brand theory,stakeholder theory and high-level echelon theory.Based on the analysis of the relationship between the overseas background of senior executives and environmental protection investment,this study selects the listed companies in heavy pollution industry in 2008-2017 as the research object,constructs a multiple regression model,and conducts empirical research on the following three issues: The relationship between executives’ overseas background and environmental protection investment;the relationship between the heterogeneity of executives’ overseas background and environmental protection investment;the influence of executives’ overseas background on the preference of environmental protection investment strategy.The results show that: the overseas background of executives has a significant positive impact on the environmental protection investment of enterprises;the heterogeneity of overseas background of executives has a positive impact on the environmental protection investment of enterprises;enterprises employing executives with overseas background are more inclined to invest in technical environmental protection investment.In the further analysis,this paper uses the property right nature and executive function as grouping variables to analyze their impact on the relationship between the overseas background of executives and environmental protection investment: on the one hand,it groups according to the property right nature to study whether the overseas background of executives has stronger impact on the environmental protection investment of enterprises in non-state-owned enterprises;on the other hand,it further subdivides the overseas background of executives from the function Jing,the CEO(chairman)with overseas background and other executives with overseas background are distinguished to investigate the differences in impact.Further analysis shows that in non-state-owned enterprises,the overseas background of executives has a more significant positive impact on environmental protection investment.Compared with non-CEO(chairman)executives,the overseas background of CEO(chairman)has a more significant impact on environmental protection investment.By focusing on the main decision-makers of the enterprise,this paper links the overseas background of the senior executives with the environmental protection investment behavior of the enterprise,which not only enriches the research in the field of environmental protection investment,but also helps the relevant departments to formulate and improve the relevant supporting policies more accurately.In this paper,environmental investment behavior is subdivided to distinguish long-term governance behavior or short-term emergency measures based on whether it is technical,it explores the environmental strategy choice preference of enterprises,explores new arguments and provides a new perspective for the study of the environmental investment strategy choice preference of enterprises,and it has a certain reference value for relevant departments to guide the environmental investment behavior of enterprises more pertinently.