公司海外背景高管聘任的地区同群效应

《上海财经大学学报》 2020年22卷第2期 页码：96 - 110  online：2020年3月26日

公司海外背景高管聘任的地区同群效应

Regional Peer Effect of Employing Overseas Background Executives

作者（中）：唐松莲1, 顾倩1, 夏飞2

作者（英）：Tang Songlian1, Gu Qian1, Xia Fei2

作者单位：1.华东理工大学 商学院，上海 200237 2.上海财经大学 财经研究所，上海 200433

摘要：海外经历通常被认为是良好教育背景或专业知识技能的标志，在经济全球化背景下，海外背景高管是公司保持竞争能力的利器，因而上市公司聘任海外背景高管的影响因素值得关注。文章选取2008-2017年A股上市公司为研究样本，对公司聘任海外背景高管的地区同群效应存在性与影响机制展开研究。研究发现：（1）公司聘任海外背景高管存在地区同群效应；（2）示范者行为影响地区同群效应，即聘任海外背景高管公司的国际化业务水平高和创新能力强会影响聘任海外背景高管的地区同群效应；（3）观察者与示范者之间的关系影响地区同群效应，即公司间“一把手”的年龄相仿、薪酬相近和产权相似会影响聘任海外背景高管的地区同群效应。文章揭示了地缘性群体因素对公司人才聘任的影响，为企业高管聘任决策和地方政府制定人才引进政策提供了参考，有利于落实中央“聚天下英才而用之”的人才强国战略。

关键词：管理层; 海外背景; 高管聘任; 地区同群效应

Summary: The key to the strategy of reinvigorating China through human resource development is to build a team of high-quality talents who can stand on the forefront of the world and who is pioneering and innovative. Overseas experience is often regarded as a sign of a good educational background or professional knowledge and skills. The motivation of enterprises to employ executives with overseas background deserves our attention. The existing literature has explored the motivation of Chinese local enterprises to hire overseas background executives from the impact of overseas background executives on corporate performance, corporate governance, business network, overseas market and innovation performance, but the conclusions are not completely unified. These motivations are based on internal factors, without considering the impact of regional factors.Peer effect is considered to be one of the most important determinants of corporate behavior. More and more enterprises interact with other enterprises in the same industry or in the same region. Peer effect is found in capital structure, corporate social responsibility performance and corporate mergers and acquisitions. However, little literature has studied the regional peer effect of employing overseas background executives in Chinese enterprises. This paper uses A-share listed companies from 2008 to 2017 as research samples to examine the existence and formation mechanism of the regional peer effect of employing overseas background executives in listed companies, in order to expand the research on influencing factors of listed companies’ employment of overseas background executives. The result shows that: (1) There is regional peer effect in the employment of overseas background executives by listed companies. (2) The behavior characteristics of the demonstrator and the relationship between the observer and the demonstrator are the important formation mechanism of regional peer effect. That means, in the same region, the level of international business and innovation capabilities of companies employing overseas background executives can affect companies’ decision of employing overseas background executives; the companies whose “top leaders” have similar ages or similar salary, and the companies having similar property rights, have greater consistency in employing overseas background executives.This study attempts to make contributions in the following areas: First, it enriches the research of peer effect. This paper not only examines the existence of regional peer effect, but also studies its formation mechanism. Second, it expands the research on the influencing factors of employing executives with overseas background. Third, from a practical point of view, it reveals the influence of geographic group factors on companies’ talent recruitment. This study provides a reference for companies’ executive employment decisions and local governments’ talent introduction policies, so as to implement the strategy of “gathering talents from all over the world and using them to strengthen the country”.

Key words: the management; overseas background; the employment of executives; regional peer effect

DOI：10.16538/j.cnki.jsufe.2020.02.007

收稿日期：2019-11-3

基金项目：国家自然科学基金“管理层利益诉求与公司策略性信息披露：基于实地调研视角研究”（71672059）；中央高校基本科研业务费专项资金资助

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