Technical expert CEOs and corporate innovation
J. Jimmy Yang and
Pacific-Basin Finance Journal, 2021, vol. 68, issue C
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)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:pacfin:v:68:y:2021:i:c:s0927538x21001104
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