Does top management team’s job mobility experience matter for corporate innovation?

IF 2.1 Q2 BUSINESS, FINANCE
Jing Jia, Zhongtian Li, Yuanyuan Hu, Baoshan Tao
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引用次数: 1

Abstract

Purpose This study aims to investigate whether top management team (TMT)’s job mobility experience is related to firm innovation. Design/methodology/approach The authors use different strategies, including a two-stage instrumental model, difference-in-differences analysis based on TMT members’ sudden deaths, propensity score matching and firm fixed-effects model, to mitigate endogeneity concerns. Findings The authors find that firms whose TMT experienced more job mobility have better firm innovation. In addition, the authors reveal that the job mobility experience is positively related to engagement in explorative innovation strategies that generate new knowledge. The findings are robust to a battery of tests to alleviate potential endogeneity concerns. Overall, the results highlight the role of job mobility experience in influencing firm innovation. Originality/value This study contributes to the rising literature on the determinants of firm innovation. By showing the TMT’s job mobility experience is related to innovation, the authors expand the literature about the economic consequences of the heterogeneous TMT characteristics. Given that firm innovation is essential to competitive advantage, the results should be of interest to a range of stakeholders, including investors, directors and managers and policymakers.
高层管理团队的工作流动性对企业创新有影响吗?
目的本研究旨在探讨高层管理团队(TMT)的工作流动经历是否与企业创新有关。设计/方法/方法作者使用不同的策略,包括两阶段工具模型、基于TMT成员猝死的差异分析、倾向得分匹配和企业固定效应模型,以缓解内生性问题。研究结果作者发现,TMT经历了更多工作流动性的公司具有更好的公司创新能力。此外,作者还揭示了工作流动体验与参与创造新知识的探索性创新策略呈正相关。这些发现对于一系列缓解潜在内生性担忧的测试来说是稳健的。总体而言,研究结果突出了工作流动经验在影响企业创新方面的作用。独创性/价值这项研究为越来越多的关于企业创新决定因素的文献做出了贡献。通过展示TMT的工作流动体验与创新有关,作者扩展了关于异质TMT特征的经济后果的文献。鉴于企业创新对竞争优势至关重要,其结果应引起一系列利益相关者的兴趣,包括投资者、董事和经理以及政策制定者。
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来源期刊
Pacific Accounting Review
Pacific Accounting Review BUSINESS, FINANCE-
CiteScore
3.80
自引率
9.50%
发文量
36
期刊介绍: Pacific Accounting Review is a quarterly journal publishing original research papers and book reviews. The journal is supported by all New Zealand Universities and has the backing of academics from many universities in the Pacific region. The journal publishes papers from both empirical and theoretical forms of research into current developments in accounting and finance and provides insight into how present practice is shaped and formed. Specific areas include but are not limited to: - Emerging Markets and Economies - Political/Social contexts - Financial Reporting - Auditing and Governance - Management Accounting.
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