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Technical expert CEOs and corporate innovation

Hsiu-I Ting, Ming-Chun Wang, J. Jimmy Yang and Kai-Wen Tuan

Pacific-Basin Finance Journal, 2021, vol. 68, issue C

Abstract: We analyze the effect of CEOs with science and engineering backgrounds on corporate innovation using a sample of Chinese listed firms from 2008 to 2015. In line with theoretical prediction, managers with science and engineering backgrounds have a positive influence on corporate innovation. However, technical expertise appears to come at the cost of poor operating and stock performances. Furthermore, non-technical expert CEOs in SOEs have horizon problems associated with a lower return on assets in the future. This study extends prior literature by providing new evidence that managerial training and work experience matter for corporate innovation.

Keywords: CEO's characteristics; Technical expertise; Technical expert CEO; CEO training and work experience; Science and engineering backgrounds; Corporate innovation; Firm performance (search for similar items in EconPapers)
JEL-codes: G30 G32 J24 (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1016/j.pacfin.2021.101603

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