高管对制造业上市公司创新投入的影响:学历、专业抑或海外背景?

The Executive’s Influence on InnovationInvestment of Listed Manufacturing Companies:The Dual Moderating Effect Based on Degree, Professionalor Overseas Backgrounds?

选择2019—2021年沪深A股制造业上市公司为研究样本,从高阶梯队理论出发,构建双重调节效应模型,探究高管学历、专业和海外背景对制造业上市公司创新投入的影响。混合样本实证结果表明:高管学历、专业和海外背景对企业创新投入有显著作用,高管专业背景与海外背景能正向调节学历对企业创新投入的影响。异质性结果表明:高管专业背景与海外背景的正向调节作用在非国有制造业和非传统制造业中更为明显。

The listed manufacturing companies in the Shanghai and Shenzhen A-share markets from 2019 to 2021 are selected as research samples to study the impact of executive degree,professional background,and overseas background on innovation investment of listed manufacturing companies.The results show that executive degree,professional background,and overseas background are significantly positively correlated with enterprise R&D investment,and executive professional background and overseas background can positively regulate the impact of degree on enterprise innovation investment.The heterogeneity results indicate that the positive moderating effect of executive professional background and overseas background is more significant in non-state-owned and non-traditional manufacturing industries.