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Talented overseas returnees and outward foreign direct investment

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  • NSTL
  • Elsevier
? 2022This paper studies the effects of talented overseas returnees on firms’ outward foreign direct investment (OFDI). Using hand-collected data on the overseas experience of senior managers at Chinese-listed companies, we find that talented returnees significantly increase the probability of firms engaging in OFDI, especially in countries where the returnees worked or studied. Financial constraints and information asymmetry are two underlying mechanisms. Constrained firms are less likely to invest in areas in which they have less experience. And country-specific experience is particularly important in countries with poor information transparency.

Country-specific experienceForeign direct investmentReturnees

Ding H.、Jin Y.、Fan H.、Qi T.

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College of Business Shanghai University of Finance and Economics

Institute of World Economy School of Economics Fudan University

School of Economics East China Normal University

2022

10.1016/j.euroecorev.2022.104210

European Economic Review

European Economic Review

ISSHP
ISSN：0014-2921
年,卷(期)：2022.148
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