An empirical investigation into how executives' overseas backgrounds and corporate financialization influence human capital structure adjustment

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-06-06 DOI:10.1016/j.frl.2025.107673

Bo Zhao , QiaoSong Jing

引用次数: 0

Abstract

This study utilizes data from Chinese listed companies from 2008 to 2023 as a sample to thoroughly examine the impact of executive overseas background and corporate financialization on the adjustment of human capital structure. The research indicates that corporate financialization facilitates the optimization and adjustment of human capital structure. The overseas background of executives plays a moderating role in the relationship between corporate financialization and human capital structure adjustment, and this moderating effect exhibits heterogeneity between high-tech and non-high-tech enterprises. Market competitiveness acts as a mediating factor between corporate financialization and human capital structure adjustment.

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高管海外背景与企业金融化对人力资本结构调整影响的实证研究

本研究以2008 - 2023年中国上市公司数据为样本，深入考察高管海外背景和公司金融化对人力资本结构调整的影响。研究表明，企业金融化有利于人力资本结构的优化和调整。高管海外背景在企业金融化与人力资本结构调整的关系中起调节作用，且这种调节作用在高新技术企业与非高新技术企业之间呈现异质性。市场竞争力在企业金融化与人力资本结构调整之间起中介作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

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