CEOs’ supply chain experience and firm innovation: evidence from China

Di Gao, Jihui Guo, Yu Shen and Xian Xu

The European Journal of Finance, 2022, vol. 28, issue 4-5, 461-486

Abstract: Using manually collected data of Chinese listed companies, this study investigates the effect of CEOs’ supply chain experience on corporate innovation. We find that such experience is positively associated with corporate innovation inputs, outputs, and innovative efficiency. The main findings withstand checks for endogeneity, self-selection bias, and robustness tests. Additionally, CEOs’ supply chain experience improves corporate innovation performance through providing information more efficiently, reducing the financial constraints faced by firms, and improving the effectiveness of corporate governance. Further analyses indicate that the effect this experience on innovation varies in different environments. Overall, our results suggest that CEOs’ supply chain experience, as an essential component of social ties, contributes to corporate innovation.

Date: 2022
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DOI: 10.1080/1351847X.2020.1856164

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