Research On Infiuence Of Board Capital On The Internationlization Degree Of High-tech Enterprises In China

In recent years,with the acceleration of economic globalization,more and more Chinese enterprises are implementing international strategies.While seizing this opportunity,Chinese enterprises are also faced with the complex and changeable international market,and there are still many problems to be solved in the process of internationalization.Therefore,many scholars begin to pay attention to what factors will influence enterprise internationalization and what measures should be taken to promote the development of enterprise internationalization.From the current research,it can be seen that internationalization.With the deepening of the research on enterprise internationalization strategy in recent years,the mechanism of the board of directors’ relevant attributes on enterprise internationalization strategy has gradually become the focus of strategic management research.The board of directors is at the core of corporate governance,which plays a decisive role in the internationalization strategy of enterprises and plays an important role in supervising the effect of strategy implementation.So how do you get the most out of the board’s strategic decisions and oversight? The incentive mode of the board of directors has always been an important issue faced by the owners and shareholders.Therefore,board capital on the internationalization of enterprises and the moderating effect of board incentive mechanism in the context of China.In the current study,due to the different national conditions and the selection of samples,scholars from all over the world for the board of directors capital impact on enterprise internationalization studies haven’t draw a unified conclusion,some scholars think that the board of directors of human capital and social capital is a positive impact on enterprise internationalization,there are some scholars think it is the board was positively influence to the human capital to the enterprise internationalization degree,and negatively influence to socialcapital.Through this article to carry on the literature review found that Hillman&Haynes in 2010 after the board of directors of the latest capital measure method is put forward,at present a little research to Chinese companies as the background from the board of directors of the board width of capital and capital depth that an overall level of the board of directors to discuss capital impact on enterprise internationalization,the board of directors also did not join related regulating variable to explore the relationship between them.Therefore,this paper measures board capital through the latest division method of board capital width and depth.First,it studies the influence of these two dimensions on the degree of enterprise internationalization,and then introduces the moderator variable of board of directors’ incentive mode to conduct in-depth discussion and research on the relationship between the two.This paper takes China’s a-share listed high-tech private enterprises as the research object,selects relevant data of board members from 2013 to 2017 and data of overseas sales and total sales of enterprises for processing and obtains 255 valid samples.Then the sample data were statistically analyzed using Stata12.0,and the following conclusions were drawn :(1)the width and depth of board capital have a significant positive impact on the degree of enterprise internationalization;(2)the more short-term compensation incentives the board of directors has,the stronger the positive influence of board capital depth on enterprise internationalization;(3)the more board equity incentive,the stronger the positive influence of board capital depth on enterprise internationalization.Through this conclusion in this paper,the board of directors of the enterprise in the process of internationalization of personnel and compensation plan put forward the following Suggestions:first,the function of board members professional background is rich,the chain between the industry as a director or within the enterprise long term,has deep knowledge within the industry is more conducive to the development of enterprise internationalization activities.In addition,a reasonable incentive plan for the board of directors will be easier to promote enterprises’ international strategic investment activities,especially for board members with deep roots in the enterprise or industry,who should pay more attention to the important influence of the incentive mechanism on them.