CEO financial career and corporate innovation: Evidence from China

被引：18
|
作者：
Yang, Chenlin [1 ]
Xia, Xinping [1 ]
Li, Yuguo [1 ]
Zhao, Yufang [2 ]
Liu, Shuang [3 ]
机构：
[1] Huazhong Univ Sci & Technol, Sch Management, 1037 Luoyu Rd, Wuhan 430074, Peoples R China
[2] Zhongnan Univ Econ & Law, Sch Accounting, 182 Nanhu Ave, Wuhan 430073, Peoples R China
[3] Nanjing Agr Univ, Dept Finance, Coll Finance, 1 Weigang, Nanjing 210095, Peoples R China
来源：
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE | 2021年 / 74卷
基金：
中国国家自然科学基金;
关键词：
Financial expert CEO; Innovation; Behavioural consistency; WORK EXPERIENCE; DARK SIDE;
D O I：
10.1016/j.iref.2021.01.018
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We examine the relationship between chief executive officers (CEOs) and firm innovation. Using CEO individual-level and firm-level data across the Chinese A-share market from 2008 to 2015, a Poisson model estimation shows that financial expert CEOs have significant negative impacts on firm innovation. Financial expert CEOs have caused a 17.5% decrease in the firm innovation level. We argue that the negative effect is due to the crowding-out effect of additional financial investments, which is facilitated by the CEOs' behavioral consistency. Our study sheds light on exploring CEOs' behavioral idiosyncrasy on firms' nonfinancial performance.
引用
收藏
页码：81 / 102
页数：22
相关论文
共 50 条
  • [1] Financial misconduct and corporate innovation: evidence from China
    Mbanyele, William
    Wang, Fengrong
    CHINESE MANAGEMENT STUDIES, 2024, 18 (04) : 1021 - 1046
  • [2] CEO Overconfidence and Corporate Innovation Outcomes: Evidence From China
    Li, Zhongze
    Zhang, Yi
    FRONTIERS IN PSYCHOLOGY, 2022, 13
  • [3] Financial institution shareholding and corporate innovation: Evidence from China
    Fan, Rui
    Ma, Lijun
    Pan, Jianping
    Yin, Sirui
    Gao, Hao
    INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2022, 80 : 835 - 856
  • [4] Board diversity, financial flexibility and corporate innovation: evidence from China
    Haroon ur Rashid Khan
    Waqas Bin Khidmat
    Sadia Awan
    Eurasian Business Review, 2021, 11 : 303 - 326
  • [5] Board diversity, financial flexibility and corporate innovation: evidence from China
    Khan, Haroon Ur Rashid
    Bin Khidmat, Waqas
    Awan, Sadia
    EURASIAN BUSINESS REVIEW, 2021, 11 (02) : 303 - 326
  • [6] Human capital in the financial sector and corporate innovation: Evidence from China
    Liu, Guanchun
    He, Feng
    Zhang, Chengsi
    Akbar, Saeed
    Li, Youwei
    BRITISH ACCOUNTING REVIEW, 2024, 56 (05):
  • [7] Independent directors, CEO career concerns, and firm innovation: Evidence from China
    Fu, Yishu
    NORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE, 2019, 50
  • [8] CEO's poverty imprints and corporate financial fraud: Evidence from China
    Liu, Yang
    Zhang, Han
    Zhang, Fukang
    PACIFIC-BASIN FINANCE JOURNAL, 2023, 81
  • [9] Green credit, financial regulation and corporate green innovation: Evidence from China
    Chen, Yu
    Zhang, Yujiao
    Wang, Mingshan
    FINANCE RESEARCH LETTERS, 2024, 59
  • [10] Credit corruption, financial constraint and corporate innovation: Evidence on China
    Zhao, Meiyu
    Zhang, Bo
    FINANCE RESEARCH LETTERS, 2023, 53
12345