The impact of management capability on foreign direct investment of listed companies

Xin Wen, Yinxuan He, Qiuting Cheng and Haojia Liu

International Review of Economics & Finance, 2025, vol. 103, issue C

Abstract: Against the backdrop of rapid economic development in China, listed companies are increasingly active in their outward foreign direct investment activities, becoming an important part of their participation in global market competition. With the implementation of China's "going out" strategy and high-level opening-up policy, the scale of foreign direct investment by listed companies is rapidly expanding, the investment subjects are becoming increasingly diversified, the industrial coverage is becoming increasingly large-scale, and regional expansion is showing a trend of globalization. Foreign direct investment not only promotes the cultivation of new driving forces for China's foreign trade growth, but also has a profound impact on the business development of enterprises themselves. Existing research on the impact of outward foreign direct investment by listed companies mainly focuses on two perspectives: external and internal. Research on management's outward foreign direct investment by listed companies mostly focuses on executive characteristics and managerial heterogeneity. However, empirical testing has not yet been conducted on the relationship between management capabilities and outward foreign direct investment.

Keywords: Management capabilities; Foreign direct investment; Performance of outward direct investment; The disadvantage of outsiders; The first type of agency cost (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:103:y:2025:i:c:s1059056025005738

DOI: 10.1016/j.iref.2025.104410

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