Innovation efficiency, overseas experience of chief executive officer and firm value in chinese chip companies
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Abstract
This study examines the impact of CEO overseas experience and innovation efficiency on firm value. Using the propensity score matching technique with 645 observations from 129 Chinese chip companies listed from 2015 to 2019, we found that CEOs with overseas experience significantly increase firm value. Innovation efficiency has a significantly positive effect on firm value. Importantly, CEO overseas experience moderates the
impact of innovation efficiency on firm value, indicating that these CEOs are better able to leverage innovation for value creation. The results underscore the importance of attracting and retaining CEOs with overseas experience and enhancing innovation efficiency to stay competitive.
The study has theoretical and policy implications for companies, policymakers, and industry stakeholders.
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