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董事会是否有国际化经营的知识和经验直接影响着企业的国际化战略决策和绩效,而具有海外背景的董事直接影响着董事会的国际化经验和知识。本文利用中国A股上市公司2005~2014年的面板数据,实证考察了董事会成员的海外背景对企业国际化程度的影响。结果表明,相对于董事会中没有海外背景董事的企业而言,董事会中有海外背景董事的企业其国际化程度更高,而且有海外背景的董事数量对企业的国际化程度有显著的正向影响,具体来讲,董事会中有海外工作经历的董事对企业国际化程度有显著的正向影响,表明有海外工作经历的董事是影响企业国际化程度的重要因素;而董事会中有海外教育背景的董事对企业国际化程度的影响不显著,这和中国企业处在国际化经营的初级阶段且国际化经营经验比较缺乏有关。
Whether the board has the knowledge and experience of international operation has a direct impact on the international strategic decision-making and performance of enterprises. Directors with overseas background directly influence the board's international experience and knowledge. Based on the panel data of Chinese A-share listed companies from 2005 to 2014, this paper empirically examines the influence of board members' overseas backgrounds on the degree of internationalization of a firm. The results show that the number of directors with overseas background directors in the board of directors is more international than that in the board of directors without overseas background directors and the number of directors with overseas background has a significant positive impact on the degree of internationalization of the enterprises Specifically, directors with overseas working experience on the board of directors have a significant positive impact on the degree of internationalization of the enterprises, indicating that directors who have overseas working experience are important factors influencing the degree of internationalization of the enterprises. Boards of directors with overseas educational background The influence of the directors on the degree of internationalization of the enterprises is not significant, which is related to the fact that Chinese enterprises are in the initial stage of international operation and the international management experience is relatively lacking.