A Study On The Influence Of Executives’overseas Experience On Ofdi Behavior

In recent years,with the continuous improvement of China’s economic status and international image,the continuous improvement of the policy on returnee talents and the impact of the global COVID-19 epidemic,more and more overseas talents choose to return home for employment and development.The comprehensive knowledge structure,cutting-edge science and technology,advanced management concept,international vision and overseas network relations brought by overseas returnees will have an important impact on the development of enterprises.In recent years,China’s Outward Foreign Direct Investment(OFDI)has gradually become an important way for China to "go global".Important achievements have also been made in the scale of OFDI.However,it should also be noted that the frequent occurrence of global economic instability,including the impact of COVID-19 on world trade and investment,requires enterprises to be more capable of risk response and better OFDI decision-making and location selection.In the field of academic research,previous studies on the factors affecting OFDI mainly focus on macro factors,and the research on the micro level of enterprises is not sufficient.At the micro level,as decision-makers and supervisors of OFDI activities,the senior management team of enterprises participates in the whole process of OFDI activities,which has a significant impact on the OFDI behavior of enterprises.Therefore,in order to further enrich the micro-level research on the impact of enterprises’ OFDI behavior,to make better use of returned human resources,to optimize the composition of senior management team members,and to promote enterprises’ OFDI better,the realistic background of the increasing number of returnees in China is basically the background.Starting from the micro level of enterprises,this paper studies the influence of executives’ overseas experience on enterprises’ OFDI behavior,and finally puts forward substantive suggestions for the government and enterprises.Based on the above realistic background and research needs,this paper studies the influence of executives’ overseas experience on OFDI behavior by combining theory and empirical methods.Firstly,due to the lack of definition of the concept and research scope of OFDI behavior in previous studies,this study is based on the question "Does OFDI behavior occur? " And " Where are outbound direct investments going? ",OFDI behavior is characterized by OFDI tendency and OFDI location choice.In addition,overseas experience is divided into overseas study experience and overseas work experience,and the moderating effect of redundant resources on the relationship between executives’ overseas experience and OFDI behavior is found through research and sorting.In this paper,the a-share listed companies in Shanghai and Shenzhen stock markets from 2009 to 2020 are selected as samples for empirical research,and Logit model is used to conduct regression analysis on the research assumptions in this paper.The empirical results show that :(1)The overseas experience of senior executives has a positive effect on the OFDI tendency of enterprises;(2)Overseas working experience of senior executives has a stronger positive effect on OFDI tendency;(3)The overseas experience of senior executives makes enterprises more inclined to conduct OFDI in developed countries;(4)The overseas study experience of senior executives makes OFDI in developed countries more important;(5)Corporate redundant resources have a positive moderating effect on executives’ overseas experience,OFDI orientation and OFDI location choice.The research in this paper enriches the characterization methods and research scope of OFDI behavior,improves to some extent the relevant research on the characteristics of overseas experience background of senior executives under the high ladder team theory,and enriches the empirical research on micro-influencing factors of OFDI behavior.At the same time,the results of this article examined executives overseas experience OFDI tendency and the influence of the location choice of the enterprise.It can help enterprises to better use of executives overseas experience,optimize the senior management team construction,and design for the enterprise executive team personnel assignment scheme and provide substantial suggestions for related training and selecting system.