Executive team stability and internationalization process of enterprises:the perspectives of overseas experience and operation risks
Based on the data of Chinese A-share listed firms from 2010 to 2021,this paper empirically examines the influence of executive team stability on the internationalization process of enterprises and its mechanism.It finds that executive team stability significantly contributes to the scope,speed and regular pace of internationalization process of enterprises.The increase of executives'overseas experience enhances the positive effect of the stability of executive team on the scope and pace of enterprises'internationalization.The degree of overseas operation risks weakens the positive effect of the stability of executive team on the internationalization scope of enterprises.Further analysis reveals that executive team stability contributes to the internationalization process of enterprises by improving long-term expectations.In addition,with the change of key executives and different organizational risk appetites and incentive compensation levels,there are significant differences in the influence of executive team stability on the internationalization process of enterprises.The conclusions clarify the important role of executive team stability in the process of internationalization of enterprises,and have practical enlightenment for enterprises to optimize transnational management.
executive team stabilityinternationalization process of enterprisesoverseas experienceoverseas operation risks
万方数据
