Executives’ Overseas Experience and Corporate Export Intensity: Evidence from Chinese A-Share Listed Firms
DOI:
https://doi.org/10.54097/tyk1jg63Keywords:
executive overseas experience, export intensity, total factor productivity, risk-taking, upper echelons theory.Abstract
This research is about the impact of executives' overseas experiences on the corporate export performance. Based on upper echelons theory, we use panel data of the Chinese A-share listed firms from 2009 to 2023 to estimate a panel model of firm and year fixed-effects. The findings indicate that, in general, export intensity is higher if a larger proportion of executives has experience abroad. This correlation continues to hold true when another measurement is taken, fixed effects by higher dimensions are considered, the sample window is changed and the explanatory variable is delayed. Mechanism tests confirm that overseas-experienced executives boost total factor productivity and intensify the company's risk taking, which contributes to both of the aforementioned channels: the operating capability and risk taking. This positive correlation is stronger for the state-owned enterprises, large firms and firms with lower ESG performance. These results indicate that internationally experienced executives can leverage knowledge, networks, and cross-cultural judgment into export benefits but that the benefits of international experience are contingent upon organizational resources of firms and their institutional environment.
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