CEO海外经历、财务冗余与战略变革

CEO’s overseas experience,financial redundancy and strategic change

以2008—2018年中国A股上市企业为样本,分析CEO海外经历对战略变革的影响,并分析财务冗余的调节作用。实证结果显示,CEO海外经历对战略变革具有显著的正向影响。研究CEO海外经历对战略变革的作用环境时发现,在财务冗余程度较高的企业中,CEO海外经历对战略变革的正向影响更为明显。丰富了CEO海外经历经济后果和战略变革影响因素的相关研究,对企业战略实践具有重要启示。

Taking the A share listed companies in China from 2008 to 2018 as samples,the impact of CEOs’overseas experience on strategic change is analyzed,and the moderating effect of financial redundancy is studied.The empirical results show that CEOs’overseas experience has a significant positive impact on strategic change.When studying the effect environment of CEOs’overseas experience on strategic change,it is found that in enterprises with high financial redundancy,the positive impact of CEOs’overseas experience on strategic change is more obvious.The relevant researches on the economic consequences of CEOs’overseas experience and the influencing factors of strategic change are enriched.The study has important enlightenment for enterprise strategic practice.