摘要
基于2008—2015年中国上市公司微观数据,运用Probit模型实证检验高管海外经历对中国企业国际化决策的影响及其潜在机制。研究发现:与本土高管相比,高管海外经历在推动企业国际化方面具有明显优势,其优势来源于人力资本积累渠道。进一步研究发现,相比海外生活经历和海外学习经历,高管海外工作经历在推动企业国际化方面的优势更为明显。相比出口贸易,高管海外经历促使企业更倾向于采用对外直接投资方式实现其国际化目标,而且有利于企业国际化地理范围的扩展。
Based on the microdata of Chinas’listed companies from 2008 to 2015,this paper uses Probit model to empirically test the impact of senior executives’overseas experience on firms’internationalization and its possible mechanisms.The study finds out that,compared with local executives,the executives’overseas experience has obvious advantages in promoting the firms’internationalization,and the advantages derive from the channel of human capital accumulation.Further study shows that,compared with the executives’overseas living or education experience,executives’overseas work experience has the most obvious advantage in promoting the firms’internationalization.The overseas experience of senior executives makes the firm to choose the OFDI strategy to achieve their internationalization goals rather than the export strategy,which is conducive to geographical scope expansion of firms’internationalization.
作者
袁然
魏浩
YUAN Ran;WEI Hao(Chinese Academy of Social Sciences, Beijing 100732;Beijing Normal University, Beijing 100875)
出处
《财贸研究》
CSSCI
北大核心
2022年第5期73-85,共13页
Finance and Trade Research
基金
国家自然科学基金项目“国际人才跨国流动及其经济效应研究”(71773008)
国家社会科学基金重大项目“中国主动扩大进口问题研究”(19ZDA068)
中国博士后科学基金项目“中国贷款与‘一带一路’国家经济发展研究”(2021M693485)。
关键词
国际人才引进
高管海外经历
企业国际化
对外直接投资决策
人力资本积累
international talent introduction
executives’overseas experience
firms’internationalization
OFDI decision
human capital accumulation
