Executives' Overseas Experience,Internal Control And Corporate Performance

Over the past 40 years of reform and opening up,China's rapid development has attracted more and more talents who have studied or worked abroad to return to China and have gradually formed an important part of senior management in Chinese enterprises.By 2017,nearly two-thirds of China's A-share listed companies had hired overseas returnees,making them an important force to be reckoned with in corporate governance teams.What is the mechanism and degree of influence of executives with overseas experience on business performance is an urgent question to be answered.This article takes the overseas experience data of executives of listed companies from 2008 to 2017 as a research sample,and uses the mediation effect test process of Wen Zhonglin et al.(2004)to conduct an empirical analysis.Both experience and overseas background experience have a significant positive impact on corporate performance,and the quality of internal control plays a part of the mediating effect.At the same time,after further analysis of the sample,it was found that: 2)Compared with overseas study experience,overseas employment experience has a more significant impact on corporate performance and internal control;3)Executive overseas experience only affects state-owned enterprises.After further distinguishing executive overseas experience,it is found that overseas employment experience plays a role in state-owned enterprises,and overseas education experience has no relevant impact.;4)The functioning of overseas experience of senior executives depends on a good external market environment to ultimately effectively improve the performance of the company's internal control quality and performance.The conclusions of this article may have certain guiding significance for returnees to return home for employment,the introduction of talents by enterprises,and the government's formulation of policies for returning talents.