The Impact of Overseas Backgrounds of Directors, Supervisors, and Senior Executives on the Green Innovation Ability of Enterprises: Based on Empirical Analysis of Listed Company Data from 2014 to 2023
Main Article Content
Keywords
overseas background, corporate green innovation, key pollution monitoring, corporate governance
Abstract
In the face of the dual background of the national green development strategy and the difficulty of implementing enterprise green innovation, whether and how the overseas background of directors, supervisors, and senior executives, as the core decision-makers of corporate governance, can and how their overseas background can affect enterprise green innovation has become an important issue. The purpose of this study is to empirically test the impact of the overseas background of the directors, supervisors and senior management teams on the green innovation ability of enterprises, and to explore the moderating role of whether the enterprise is a key pollution monitoring unit in the external policy situation. The research method of this study is to select the data of China’s A-share listed companies from 2014 to 2023 and construct a two-way fixed effect model for empirical analysis. Based on the company’s green innovation ability, whether directors, supervisors and senior executives have overseas backgrounds are the core variables, and a series of corporate financial and governance variables are controlled. The research hypothesis was verified by benchmark regression, moderating effect test, heterogeneity analysis and robustness test. The study found that the overseas background of directors, supervisors and senior executives has a positive but not significant impact on enterprise green innovation. Key pollution monitoring policies have a significant positive moderating effect and can strengthen the promotion of green innovation from overseas backgrounds.
References
- Cai, X., Zhu, B., Zhang, H., Li, L. and Xie, M., (2020). Can direct environmental regulation promote green technology innovation in heavily polluting industries? Evidence from Chinese listed companies. Science of the total environment, vol. 746, p. 140810.
- Chen, I.-J., Lin, W. C., Lo, H.-C. and Chen, S.-S., (2023). Board diversity and corporate innovation. Review of Quantitative Finance and Accounting, vol. 61, no. 1, pp. 63-123.
- Fan, J. B. and Zhao, R., (2025). Environmental regulation and green innovation efficiency of heavy polluting enterprises under the “Dual Carbon” goal: A retest of the Chinese-style “porter hypothesis”. Forum on Science and Technology in China, no. 01, pp. 88-98.
- Feng, J. X. and Lang, K., (2023). Cross-border comparison of the development paths and characteristics of state-owned enterprises,and its enlightenment. Contemporary Economic Research, no. 08, pp. 65-77.
- Hambrick, D. C. and Mason, P. A., (1984). The organization as a reflection of its top managers. Academy of Management Review, vol. 9, no. 2, pp. 193-206.
- Han, B., Li, R. F. and Jin, L., (2025). Directors’ experience as supervisors and their relationship with company strategy. Friends of Accounting, no. 10, pp. 62-69.
- Harjoto, M., Laksmana, I. and Lee, R., (2015). Board diversity and corporate social responsibility. Journal of business ethics, vol. 132, no. 4, pp. 641-660.
- He, F., Yan, Y., Hao, J. and Wu, J. G., (2022). Retail investor attention and corporate green innovation: Evidence from China. Energy Economics, vol. 115, p. 106308.
- Khatib, S. F., Abdullah, D. F., Elamer, A., Yahaya, I. S. and Owusu, A., (2023). Global trends in board diversity research: A bibliometric view. Meditari Accountancy Research, vol. 31, no. 2, pp. 441-469.
- Liu, B. and Xie, X. X., (2025). Research on the impact of government environmental audits on enterprise green productivity. Friends of Accounting, no. 17, pp. 137-144.
- Liu, X. Y. and Zhang, K., (2023). Environmental regulation, pollution reduction and change of enterprise production mode: An empirical study based on key monitoring policy. World Economic Papers, no. 2, pp. 108-120.
- Rost, M., (2002). Teaching and researching listening, London: Longman.
- Saunila, M., Ukko, J. and Rantala, T., (2018). Sustainability as a driver of green innovation investment and exploitation. Journal of cleaner production, vol. 179, pp. 631-641.
- State Council of China, (2025). Notice from the State Council on Issuing the Action Plan for Achieving Carbon Peak Before 2030 [Online]. Available: https://www.gov.cn/zhengce/content/2021-10/26/content_5644984.htm [Accessed 19 December 2025].
- Takalo, S. K. and Tooranloo, H. S., (2021). Green innovation: A systematic literature review. Journal of Cleaner Production, vol. 279, p. 122474.
- The CPC Central Committee and The State Council of China, (2024). Opinions on Fully, Accurately and Comprehensively Implementing the New Development Philosophy and Doing a Good Job in Carbon Peaking and Carbon Neutrality [Online]. Available: https://www.gov.cn/zhengce/2021-10/24/content_5644613.htm [Accessed 19 December 2025].
- The CPC Central Committee and The State Council of China, (2025). Opinions on Accelerating the Comprehensive Green Transformation of Economic and Social Development [Online]. Available: https://www.gov.cn/zhengce/202408/content_6967663.htm [Accessed 19 December 2025].
- Wang, C. G. and Gou, L. F., (2025). Can mixed-ownership reform and checks and balances on management power in state-owned enterprises promote green technology innovation? Dongyue Tribune, vol. 46, no. 04, pp. 121-133.
- Wang, X. and Wang, Y., (2021). Research on the green innovation promoted by green credit policies. Journal of Management World, vol. 37, no. 06, pp. 173-188+11.
- Wang, Z., Zhang, T., Ren, X. and Shi, Y., (2024). AI adoption rate and corporate green innovation efficiency: Evidence from Chinese energy companies. Energy Economics, vol. 132, p. 107499.
- Wen, H. and Huang, J. X., (2025). Research on the impact of executive team heterogeneity on corporate ESG performance. Chinese Journal of Management, vol. 22, no. 04, pp. 700-708.
- Wu, C. F. and Lin, Y. Y., (2024). Current research status and prospects of FinTech. Journal of Management Sciences in China, vol. 27, no. 06, pp. 1-20.
- Xi, L. S., Shao, A. R. and Zhao, H., (2025). A study on the impact of board diversity on corporate resilience. Finance and Accounting Monthly, vol. 46, no. 01, pp. 48-56.
- Xiao, H. J., Yang, Z. and Ling, H. C., (2021). “Beyond Reach” or “Echoing from Afar”? Regulatory distance and corporate social responsibility. Finance & Trade Economics, vol. 42, no. 10, pp. 116-131.
- Xing, D. S. and Wang, X. H., (2025). Overseas experience of senior executives, government environmental concerns and corporate green innovation. Communication of Finance and Accounting, no. 05, pp. 58-62.
- Xiong, W., Pan, H., Li, L. W. and Liu, L. X., (2022). Can the optimization of the supervisory committee features robustly improve the business efficiency?: Evidence from the listed companies in China. The World of Survey and Research, no. 03, pp. 42-54.
- Xu, Y. J., Xu, X. C. and Tian, F. F., (2025). Flexible tax enforcement and corporate ESG performance. Journal of Xi’an Jiaotong University(Social Sciences), vol. 45, no. 03, pp. 54-64.
- Yang, T. S. and Pang, C. L., (2014). Review mechanism for directors’ compensation: collaboration between independent directors and supervisors. Social Science Journal, no. 02, pp. 52-56.
- Yang, Z. and Wang, Y., (2024). Will returnee executives promote ESG performance? Journal of Shanghai University of International Business and Economics, vol. 31, no. 02, pp. 88-110.
- Yu, C. Y. and He, L., (2019). How does director of board network change the innovative behavior of enterprises?: In view of the difference in directors’ innovation preference China Journal of Economics, vol. 6, no. 01, pp. 146-186.
- Zhang, Y. and Yin, J., (2025). The facilitating effect of supply chain customer stability on firm green innovation. Accounting and Economics Research, vol. 39, no. 1, pp. 136-159.
- Zheng, Y., Li, J. and Zhang, X., (2023). Executives with overseas background and green innovation. Finance Research Letters, vol. 58, p. 104616.
Article Sidebar
This work is licensed under a Creative Commons Attribution 4.0 International License.