重新审视CEO特征与企业国际化的关系：来自机器学习方法的证据

IF 2.7 3区经济学 Q2 ECONOMICS

Managerial and Decision Economics Pub Date : 2025-02-11 DOI:10.1002/mde.4507

Cong Cheng, Yawen Lin, Jian Dai

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引用次数: 0

摘要

本研究利用机器学习（ML）技术来评估CEO特征对公司国际绩效的影响。本研究分析了2008年至2021年中国上市公司的数据，对14种ML算法进行了评估，并发现随机森林模型是最有效的。此外，采用SHapley加性解释（SHAP）算法对结果进行解释和可视化。研究结果表明，大多数CEO特质可以预测公司的国际成功。值得注意的是，国际经验、年龄和CEO的双重身份是最重要的预测因素。具体而言，国际经验和CEO二元性都对绩效有正向影响，而CEO年龄与绩效表现出复杂的非线性关系。这项研究提供了一个细致入微的视角，说明CEO特征如何影响公司的国际成功。

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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Revisiting the Relationship Between CEO Characteristics and Firm Internationalization: Evidence From a Machine Learning Approach

This study leverages machine learning (ML) techniques to assess the impact of CEO characteristics on the international performance of firms. Analyzing data from Chinese listed companies between 2008 and 2021, this study evaluates 14 ML algorithms and identifies the random forest model as the most effective. Additionally, the SHapley Additive exPlanations (SHAP) algorithm is employed for result interpretation and visualization. The findings indicate that most CEO traits can predict a firm's international success. Notably, international experience, age, and CEO duality emerge as the top predictors. Specifically, both international experience and CEO duality positively influence performance, while the CEO's age exhibits a complex, non-linear relationship with performance. This study provides a nuanced perspective on how CEO characteristics influence a firm's international success.

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来源期刊

Managerial and Decision Economics Multiple-

CiteScore

1.40

自引率

18.20%

发文量

242

期刊介绍： Managerial and Decision Economics will publish articles applying economic reasoning to managerial decision-making and management strategy.Management strategy concerns practical decisions that managers face about how to compete, how to succeed, and how to organize to achieve their goals. Economic thinking and analysis provides a critical foundation for strategic decision-making across a variety of dimensions. For example, economic insights may help in determining which activities to outsource and which to perfom internally. They can help unravel questions regarding what drives performance differences among firms and what allows these differences to persist. They can contribute to an appreciation of how industries, organizations, and capabilities evolve.