Is Executive's Banking Experience Conducive to Enterprise Innovation Investment: Evidence from Private Enterprises

LI Qiang; LIU Shu

Volume 34 Issue 6

May 2021

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LI Qiang, LIU Shu. Is Executive's Banking Experience Conducive to Enterprise Innovation Investment: Evidence from Private Enterprises[J]. Journal of Guangdong University of Finance & Economics, 2019, 34(6): 64-75.

Citation:

LI Qiang, LIU Shu. Is Executive's Banking Experience Conducive to Enterprise Innovation Investment: Evidence from Private Enterprises[J]. Journal of Guangdong University of Finance & Economics, 2019, 34(6): 64-75.

Citation:

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Is Executive's Banking Experience Conducive to Enterprise Innovation Investment: Evidence from Private Enterprises

LI Qiang,
LIU Shu

School of Management, China University of Mining and Technology, Xuzhou 221116, China

Received Date: 2019-08-13
Available Online: 2021-05-27
Publish Date: 2021-05-27

Abstract

Abstract

This paper analyses the influential mechanism of executive's banking experience on enterprise innovation investment from two dimensions of resource effect and rick effect, and makes an empirical test on the private-listed companies in A-share manufacturing industry from 2010 to 2017. It is found that banking experience does not alleviate the financing constraints faced by enterprise in innovation investment, but worsens the short-sighted problem among executives, leading to reduction in innovation investment; moreover, the negative impact of executive's banking experience on innovation investment is pronounced in small enterprises, non-capital-intensive enterprises, and non-high-tech enterprises. The above conclusions enrich the research on the influential factors of enterprise in innovation investment and expand the research literature on the Upper Echelons Theory from the perspective of executive's career experience, which helps to fully understand the economic consequence of executive's banking experience.
- banking experience,
- innovation input,
- enterprise innovation,
- executive,
- financing constraint,
- private enterprise

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References(36)

References

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