Abstract：Employing the matched data of overseas executive and innovation of Chinese listed companies in 2008—2016 period,this paper examines the effect of managerial foreign experience and their professional background on the firm innovation.The finding finds that managerial foreign experience can increase the R&D intensity,invention patents and design patent applications,and the total number of patent applications.In addition,executives with foreign experience pays more attention to the quality of technological innovation and can inhibit firm's strategic innovation.Further distinguishing the professional background of executives with foreign experience,this paper finds that the executives with technical background and management background can improve firm's technological innovation capabilities.However,executives with foreign experience of legal background only have a positive impact on innovation efficiency.As executives with foreign experience may have a reverse causal relationship with firm innovation,this paper uses the propensity score matching method to deal with endogeneity.The results are consistent with the baseline findings.
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