The greater part of the current examinations on the affecting elements of Finance investor relations are directed according to the viewpoints of corporate qualities, corporate administration and value structure, overlooking the heterogeneity of the subject of Finance investor relations choice — CEO. As per the highest level hypothesis, the CEO's Abroad Conduct foundation will impact their mental premise and values, which thus influences their choices on the organization's procedure. Brand hypothesis More show, because of the undeniable social contrasts between nations, CEO abroad review or work period is a "touchy period", the CEO will encounter the course of "brand", framed with the abroad climate of mental qualities and capacity qualities, regardless of whether the CEO home, the abroad experience "brand" attributes actually endure, influence the CEO the executives choice of the organization. In light of this, in view of the hypothetical examination, this paper lays out A different straight relapse model in view of the management information of a-share non-monetary recorded organizations in 2009-2018 to examine the effect of CEO's Abroad Conduct foundation on the Finance investor relationship of endeavors. That's what the exact outcomes show:
The CEO's Abroad Conduct foundation can fundamentally further develop the corporate Finance investor relations, and the end is as yet substantial in the wake of adding apparatus factors to control endogenous issues, changing the Finance investor relationship organization factors, Really including the Individual Capital Construction Hypothesis attributes of the CEO, and controlling the common fixed effect.
More examination results demonstrate the way that the abroad working foundation of CEO can altogether further develop the Finance investor relations of undertakings, while the abroad learning foundation of CEO essentially affects the Finance investor relations.
At a glance
- Empirical sample of 17,641 company-year observations
- Analyzes Chinese A-share nonfinancial companies from 2009 to 2018
- Compares CEOs’ overseas education and work experience
- 118 sources in the bibliography
- 2 figures and 12 tables
Table of Contents
CEO's Overseas background and Corporate Value: A Study based on Listed company data
Abstract
1. Introduction
1.1 Research Background
1.2 Study significance
1.2.1 Theoretical Significance
1.2.2 Practical significance
1.3 Study content and methods
1.3.1 Research content
1.3.2 Research methods
1.4 Research and innovation
2. Related concepts and theoretical foundations
2.1 Definition of relevant concepts
2.1.1 CEO echelon theory
2.1.2 Imprinting theory
2.1.3 Power theory of management
2.2 Theoretical basis results of CEOs
2.2.1 Personal Capital Structure Theory characteristics of CEOs
2.2.2 Overseas Behavioral background of CEOs
2.3 Finance investor relations research results
2.3.1 Definition and measurement methods of Finance investor relations
2.3.2. Communication mode and positioning of Finance investor relations
2.3.3 The role and economic consequences of Finance investor relations
2.4 CEO background and Finance investor relations
2.5 Related concepts and theoretical foundations
3. Theoretical analysis and research hypotheses
4. Research Assumptions and Model Design
4.1 Research Assumptions, Sample Selection and Data Sources
4.2 Variable Selection
4.2.1 The explained Model (1) Variables
4.2.2 The explanatory Model (2) Variables
4.2.3 Control variables
4.3 Empirical model design
5. The empirical results and analysis
5.1 Descriptive statistics
5.2 Correlation analysis
5.3 Analysis of the regression results
5.4 More analysis
5.4.1 Group by Overseas Behavioral background of CEO
5.4.2 Group by CEO management autonomy
5.4.3 Group by company transparency
5.5. Robustness test
5.5.1 endogeneity test
5.5.2 Replace the Finance investor relations measurement method
5.5.3 Replace the control variables
6. Study conclusions, recommendations, and limitations
6.1 Study Conclusion
6.2 Policy recommendations
6.3 Study Limitations
Objectives and Themes
This study examines whether a CEO's overseas study or work experience is associated with investor relations at Chinese listed companies. It combines theories of executive decision-making with an empirical analysis of company-level data from 2009 to 2018.
- CEO overseas education and work experience
- Investor relations and online communication
- Upper echelons, imprinting and managerial power
- Company characteristics and regression analysis
- Management autonomy and corporate transparency
- Alternative measures and robustness tests
Excerpt from the Book
2.1.2 Imprinting theory
Imprinting Theory (Imprinting Theory) first put forward by biologists,the hypothesis depicts the natural subject in a particular climate, will encounter a "climate delicate" period, during this period, the primary body will shape adjusted to the ecological qualities of "brand", these "brand" attributes with dormancy, regardless of whether the outside climate changes, likewise will have constant impact on center subject (Marquis and Tilcsik, 2013). The central issues of marking system are: ① experience delicate period; ② development brand adjusted to the climate; and ③ constant impact. Then, at that point, Engraving Hypothesis is applied to the investigation of the executives, used to make sense of in the improvement cycle of the association, impacted by the previous history, will shape and establish the climate of "brand", the "brand" qualities can battle the outer climate change, after the advancement phase of association actually have enduring effect on the association (Greenwood, and so on, 2010). This examination result opened a novel thought for the research study of the management science. Researchers were enlivened to do investigate according to the point of view of Engraving Hypothesis, and framed rich research study results. At first, researchers applied marking hypothesis to hierarchical hypothesis and authoritative environment, accepting ventures as the research study article, and zeroing in on how the ensuing effect of "brand" and "brand" on endeavors (Mathias et al., 2015). Afterward, with the extending of research study, researchers started to zero in on Engraving Hypothesis from endeavors to people, with individual business visionaries as the examination object, zeroing in on how the "brand" shaped by early encounters lastingly affects the resulting profession of administrators (Azoulay et al., 2017). In view of the hypothesis, the CEO to abroad, by the abroad friendly culture, monetary climate, the overall set of laws, will encounter a "delicate" climate, the first mental design and values tested, to reduce the tension of the new climate, CEO mental idea, dynamic reasoning and inclinations will create massive changes, bit by bit with new climate, framed with the abroad climate "brand" qualities. Even after they return to China, this "brand" of overseas experience continues, affecting the management of the company through the inertial decision-making mode (Dokko et al., 2009).
Chapter Summaries
1. Introduction: Introduces the research context, significance, methods and proposed contribution.
2. Related concepts and theoretical foundations: Reviews executive decision-making theories and research on overseas experience and investor relations.
3. Theoretical analysis and research hypotheses: Develops the hypothesis linking overseas experience to investor relations through executive cognition and capabilities.
4. Research Assumptions and Model Design: Describes the sample, data sources, variables and multiple linear regression model.
5. The empirical results and analysis: Presents descriptive statistics, correlations, regression analyses, subgroup comparisons and robustness tests.
6. Study conclusions, recommendations, and limitations: Discusses the study's conclusions, policy recommendations and limitations.
Keywords
CEO overseas experience, investor relations, Chinese listed companies, A-shares, corporate governance, upper echelons theory, imprinting theory, managerial power, investor communication, management autonomy, corporate transparency, multiple linear regression, endogeneity
Frequently Asked Questions
What is this study about?
It examines the relationship between CEOs' overseas experience and investor relations at Chinese listed companies.
What are its central themes?
The study brings together executive backgrounds, investor communication, corporate governance, management autonomy and transparency.
What is the main research question?
It asks whether a CEO's overseas study or work experience is associated with the company's investor relations.
What research methods are used?
The author combines a literature review with descriptive statistics, correlation analysis and multiple linear regression, supplemented by robustness tests.
What does the main analysis cover?
It examines the overall relationship and compares groups by type of overseas experience, managerial autonomy and company transparency.
Which keywords characterize the study?
Key terms include overseas experience, investor relations, upper echelons theory, imprinting theory, corporate governance and regression analysis.
How are investor relations measured?
The primary measure is the proportion of investor questions answered by a company on an interactive platform. Alternative measures consider reply length and timeliness.
What companies and period are examined?
The study uses data on Chinese A-share nonfinancial listed companies from 2009 to 2018.
How does the study distinguish types of overseas experience?
It constructs separate variables for overseas education and overseas work experience and examines them in separate regressions.
- Quote paper
- Arslan Aylyyev (Author), 2023, CEO's Overseas Background and Corporate Value. A Study based on Listed Company Data, Munich, GRIN Verlag, https://www.grin.com/document/1359519
