CEO cultural and financial backgrounds and corporate innovation

Jie Yan, Xin Gu and Zongtang Xie

Finance Research Letters, 2024, vol. 66, issue C

Abstract: This study explores the relationship between CEO cultural and financial background and corporate innovation based on a comprehensive sample of China's A-share listed companies from 2012 to 2022. Utilizing an unbalanced panel data set of 2317 firms, this study employs empirical models to test the effect of CEOs' cultural and financial backgrounds on innovation outcomes. The findings highlight the important role of CEO cultural traits, particularly diversity, in enhancing corporate innovation performance. In addition, CEOs’ financial knowledge significantly amplifies the positive relationship we identified. This study provides valuable insights to practitioners by mapping the relationship between CEO background and innovation outcomes.

Keywords: CEO; Cultural diversity; Financial background; Corporate innovation (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:66:y:2024:i:c:s1544612324007001

DOI: 10.1016/j.frl.2024.105670

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