Xu Zhaocheng
School of Business, Shanghai Dianji University, Shanghai, China.
Heliyon. 2023 Jul 1;9(7):e17845. doi: 10.1016/j.heliyon.2023.e17845. eCollection 2023 Jul.
Based on upper echelons and self-categorization theories, this study empirically examines the relationship between CEO-top management team (TMT) overseas experience differences and firm performance and the moderating effects of hometown connectedness, ownership nature, and environmental dynamics. We use data on Chinese manufacturing listed companies from 2012 to 2021. The results show that CEO-TMT overseas experience differences significantly and negatively affect firm performance. Hometown connectedness positively moderates this relationship; as CEO-TMT hometown connectedness increases, the negative impact of CEO-TMT overseas experience differences on firm performance decreases. Finally, state ownership and higher environmental dynamics mitigate the negative relationship between CEO-TMT's overseas experiences and firm performance.
基于高层梯队理论和自我分类理论,本研究实证检验了首席执行官(CEO)与高层管理团队(TMT)海外经历差异与企业绩效之间的关系,以及家乡关联度、所有权性质和环境动态性的调节作用。我们使用了2012年至2021年中国制造业上市公司的数据。结果表明,CEO-TMT海外经历差异对企业绩效有显著的负面影响。家乡关联度对这种关系起到正向调节作用;随着CEO-TMT家乡关联度的增加,CEO-TMT海外经历差异对企业绩效的负面影响会减小。最后,国有产权和较高的环境动态性会减轻CEO-TMT海外经历与企业绩效之间的负向关系。