The Overseas Experience Of Executives And Corporate Green Innovation

At present,the coordinated development of economy and environment is an urgent problem to be solved in China.Green innovation can improve the current situation of tighter resource constraints and worsening environmental pollution,and enterprises play a leading role in the green innovation system.Previous studies on the driving factors of enterprise green innovation mostly started from the external factors of enterprises,staying at the macro and meso levels,and rarely discussed from the characteristics of managers.However,the root of innovation lies in talents.Senior executives are very crucial in the process of strategic decision-making and implementation of enterprises,and their influence on enterprises’ green innovation activities cannot be ignored.Senior executives returning from overseas are usually regarded as the bearer and transmitter of advanced management experience,and senior executives’ overseas experience is a specific embodiment of human capital.Then,will the overseas experience of senior executives stimulate the vitality of green innovation of enterprises,help the high-quality development of enterprises,and then facilitate the construction of a new development pattern?In order to answer the above questions,this paper takes A-share listed companies from 2011 to 2021 as samples and empirically studies the impact of executives’ overseas experience on corporate green innovation based on branding theory and high ladder team theory.At the same time,it examines the role of risk preference and corporate social responsibility of senior executives.Furthermore,based on the heterogeneity of senior executives’ overseas experience and the heterogeneity of firm characteristics,the results of classified samples are discussed.Finally,a series of tests were carried out to weaken the endogeneity problem and ensure the robustness of the research conclusions.The main findings of this paper are as follows: First,senior executives’ overseas experience has a positive impact on enterprises’ green innovation level.Second,the improvement of senior executives’ risk preference and corporate social responsibility is the bridge between senior executives’ overseas experience and corporate green innovation.3.Compared with overseas working experience and non-American overseas experience,study experience and American experience have a more significant effect on the improvement of enterprise’s green level.4.The promotion effect of senior executives’ overseas experience is mainly manifested in enterprises with weak financing constraints,state-owned enterprises and enterprises in heavily polluting industries.The main innovations of this paper are as follows: First,based on the personal characteristics of senior executives,the influence of senior executives’ overseas experience on corporate green innovation is investigated,which provides a new perspective for relevant research on corporate green innovation.Second,it expands the economic consequences of the overseas experience of senior executives,and provides useful reference for how to optimize the construction of senior executives team,better empower green finance and stimulate the innovation vitality of enterprises.