School of Logistics and Management Engineering, Yunnan University of Finance and Economics, Kunming, China.
School of Computer and Information Engineering, Henan University of Economics and Law, Zhengzhou, China.
PLoS One. 2023 Mar 17;18(3):e0281866. doi: 10.1371/journal.pone.0281866. eCollection 2023.
The impact of a chief executive officer's (CEO's) functional experience on firm performance has gained the attention of many scholars. However, the measurement of functional experience is rarely disclosed in the public database. Few studies have been conducted on the comprehensive functional experience of CEOs. This paper used the upper echelons theory and obtained deep-level curricula vitae (CVs) data through the named entity recognition technique. First, we mined 15 consecutive years of CEOs' CVs from 2006 to 2020 from Chinese listed companies. Second, we extracted information throughout their careers and automatically classified their functional hierarchy. Finally, we constructed breadth (functional breadth: functional experience richness) and depth (functional depth: average tenure and the hierarchy of function) for empirical analysis. We found that a CEO's breadth is significantly negatively related to firm performance, and the quadratic term is significantly positive. A CEO's depth is significantly positively related to firm performance, and the quadratic term is significantly negative. The research results indicate a u-shaped relationship between a CEO's breadth and firm performance and an inverted u-shaped relationship between their depth and firm performance. The study's findings extend the literature on factors influencing firm performance and CEOs' functional experience. The study expands from the horizontal macro to the vertical micro level, providing new evidence to support the recruitment and selection of high-level corporate talent.
首席执行官（CEO）的职能经验对企业绩效的影响引起了许多学者的关注。然而，在公共数据库中很少披露职能经验的衡量标准。关于 CEO 的综合职能经验的研究很少。本文利用高层梯队理论，并通过命名实体识别技术获取深入的履历（CV）数据。首先，我们从 2006 年到 2020 年挖掘了 15 年来中国上市公司 CEO 的简历。其次，我们提取了他们整个职业生涯的信息，并自动对其职能层次进行分类。最后，我们构建了广度（职能广度：职能经验丰富度）和深度（职能深度：平均任期和职能层次）进行实证分析。我们发现，CEO 的广度与企业绩效显著负相关，二次项显著为正。CEO 的深度与企业绩效显著正相关，二次项显著为负。研究结果表明，CEO 的广度与企业绩效之间呈 U 型关系，而其深度与企业绩效之间呈倒 U 型关系。该研究结果扩展了影响企业绩效和 CEO 职能经验的因素文献。该研究从横向宏观扩展到纵向微观层面，为高层企业人才的招聘和选拔提供了新的证据支持。
