Open AccessAnalysis of CEOs with Overseas Backgrounds on Easing Corporate Financing Constraints
Author(s) -
Yao Chen
Publication year - 2021
Publication title -
bcp business and management
Language(s) - English
Resource type - Journals
ISSN - 2692-6156
DOI - 10.54691/bcpbm.v15i.257
Subject(s) - business , china , corporate finance , finance , sample (material) , stock exchange , external financing , stock (firearms) , corporate governance , empirical research , accounting , mechanical engineering , debt , philosophy , chemistry , chromatography , epistemology , political science , law , engineering
This paper uses China's A-share listed companies in Shanghai and Shenzhen stock exchanges from 2008 to 2018 as a sample to explore the relationship between the CEO's overseas background and corporate financing constraints. The empirical results show that the CEO's overseas background has a significant impact on corporate financing constraints. Further research results show that the CEO of a state-owned enterprise can significantly alleviate the level of corporate financing constraints under the conditions of an overseas background, while the CEO's non-concurrent directorship can strengthen the impact of the CEO's overseas background on corporate financing constraints.