The Impact of Executives 'Overseas Background on Chinese Enterprises' Outward Direct Investment: Based on Data From Listed Manufacturing Companies

摘要

The development of OFDI is of great significance to China's manufacturing industry structure and manufacturing enterprises themselves. How to carry out higher-quality foreign direct investment has become a question worthy of attention. This article takes the listed companies of Shanghai and Shenzhen A-share manufacturing companies in China from 2009 to 2018 as research objects, studies the impact of overseas background of corporate executives on foreign direct investment of enterprises, analyzes the direct and indirect channels of the impact, and further examine the differences in different types of overseas backgrounds. The study found that companies with overseas background are more likely to make direct foreign investment. Executives with overseas work experience are more likely to promote companies' direct foreign investment than those executives who have overseas learning background.