Research On The Influence Of Executives’ Overseas Background On Technological Innovation Of Chinese Enterprises

In the context of closer global economic ties,China has gradually strengthened the promotion of the opening-up strategy.Relevant departments continue to promote the introduction of overseas talents.Most Chinese enterprises also focus on overseas talents when recruiting senior managers.The advanced technology and broad vision of overseas talents can provide the basis for their work.Therefore,talents with overseas background play an important role in the development of Chinese enterprises and the improvement of domestic innovation level.Therefore,this paper takes the overseas background of domestic enterprise executives as the starting point to explore their impact on micro enterprises in terms of innovation ability.Based on enterprise innovation theory,high-level echelon theory and social capital theory,this study selects the main financial data of all A-share listed companies in China from 2009 to2017,and summarizes their senior management data and company R & D innovation data.The study found that the overseas background of executives will help to increase the number of invention patents and design patents,and effectively improve the quality of invention patents and design patents,but the impact on the number and quality of utility model patents is not significant.After using the propensity score matching method to solve the possible endogeneity problem,the conclusion is still robust.After conducting a sub-sample test according to the overseas background categories of corporate executives,it is found that both the overseas study background and work background of executives can promote the technological innovation of enterprises,but the promotion effect of executives’ overseas study background is stronger than that of executives’ overseas work background.Moreover,in the regions with lower marketization index,the overseas background of senior executives has a more obvious role in promoting technological innovation;the overseas background of senior executives in non-state-owned companies has a more significant impact on technological innovation than state-owned enterprises.The above conclusions show that the overseas background of executives can effectively promote the technological innovation of enterprises,which has strong practical significance.For the government,it should continue to implement preferential policies to attract overseas students and staff to return to China,strengthen the implementation of the high-level talent introduction plan,and formulate corresponding support policies to promote technological innovation activities by enterprises;For enterprises,in the process of setting up a high-level management team,they can consider providing more inclinations and support to overseas personnel,and introducing excellent returned technical talents into the enterprise.