母公司高管海外经历如何影响海外子公司的绩效?  

How does the Overseas Experience of Parent Company Executives Affect the Performance of Overseas Subsidiaries?

作　　者：朱佳信 祝继高[1] 梁晓琴 Zhu Jiaxin;Zhu Jigao;Liang Xiaoqin(Business School,University of International Business and Economics,Beijing 100029,China)

机构地区：[1]对外经济贸易大学国际商学院,北京100029

出　　处：《外国经济与管理》2022年第9期35-50,共16页Foreign Economics & Management

基　　金：国家社会科学基金重大项目(19ZDA101)。

摘　　要：跨国企业内部何种联结有助于提升海外子公司绩效?本文基于跨国企业的资源——母公司高管海外经历,以资源依赖理论为核心视角,阐释了东道国经历与非东道国经历如何影响海外子公司绩效,并且通过中国A股上市公司2011—2019年的海外子公司数据,实证检验了理论假设。研究发现:(1)高管东道国经历是适用东道国环境的专用资源,母子公司之间紧密的联结有助于促进海外子公司绩效。(2)高管非东道国经历是适用全球环境的通用资源,对海外子公司绩效无显著的促进效应,海外子公司会较少依赖这种通用资源。(3)高管东道国经历使得母公司增加对海外子公司的资源投入,从而促进了海外子公司绩效。(4)异质性分析表明文化距离越大、东道国制度质量越差、海外子公司经营年限越短,母公司高管东道国经历对海外子公司绩效的促进作用越强。本文丰富高管海外经历对企业绩效影响研究的同时,还拓展了跨国企业内部联结关系与海外子公司外来者劣势的相关研究。How overseas subsidiaries can seek resource support from the parent company while maintaining a certain degree of independence has become a key issue. This paper finds that there is controversy in existing studies on the impact of parent-subsidiary linkages on overseas subsidiaries, and there is a lack of further explanation for the phenomenon that strong parent-subsidiary linkages may not only promote the performance of overseas subsidiaries, but also inhibit the performance of overseas subsidiaries. The executives of the parent company have a great impact on the degree of parentsubsidiary linkages. Therefore, this paper studies the internal relationship between the overseas experience of parent company executives and the performance of overseas subsidiaries from the perspective of the experience of the host and non-host countries, and deeply analyzes how the experience knowledge given by the overseas experience plays a role between the parent and subsidiary companies.Based on the resource dependence theory, this paper finds that: When the parent company has special resources suitable for the environment of the host country, the close linkage between the parent company and its subsidiaries helps to promote the performance of overseas subsidiaries. That is, the host country experience of parent company executives has a positive relationship with the performance of overseas subsidiaries. When the parent company has common resources applicable to the global environment, overseas subsidiaries will less rely on the common resources of the parent company. That is, the non-host country experience of parent company executives has no significant promoting effect on the performance of overseas subsidiaries. The intermediary effect analysis finds that parent company executives with the host country experience will pay more attention to the overseas subsidiaries of the host country, and will improve the performance of overseas subsidiaries by increasing the investment in financial resources. From the perspectives of institu

关 键 词：高管海外经历 东道国经历 母子公司关系 资源依赖 海外子公司绩效 

分 类 号：F270[经济管理—企业管理]