Big egos can be green: A study of CEO hubris and environmental innovation.
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We do not have this issue because our sample includes Chinese public firms only.Īdams, W. Therefore, it is possible that their findings are driven by the geographic location of firms. Finally, it is not clear where the companies in Post et al. ( 2011) explored, we also propose that foreign experience enhances the general competencies of CEOs. Third, in addition to the “environmental ethics” argument Post et al. ( 2011) does not have this “returnee” concept. In contrast, we examine the effect of social interactions through learning/working in foreign countries/regions on executives with the same ethnicity who return to work in their home countries. Second, the concept of “foreign” in their paper is nationality. We, on the other hand, focus on the role played by CEOs.
Thus, their focus is on the monitoring/advisory role played by directors, which is related to corporate governance. ( 2011) focus on board composition/diversity and look at 78 firms from the Fortune 1000 that have more Western European directors. ( 2011) find that boards with a higher proportion of Western European directors are more likely to implement environmental governance structures or processes, we differ from Post et al. Collectively, these findings suggest that CEO foreign experience is a significant factor for corporate green innovation in emerging markets. Finally, we find that CEO foreign experience is positively related to green innovation quality and internationalization. Additional analyses indicate that enhanced environmental ethics and general competency are two potential mechanisms through which CEO foreign experience affects corporate green innovation. Furthermore, consistent with the view that CEOs with foreign experience would play a more significant role when provided with more resources, we find that the positive relationship is more pronounced in less financially constrained firms, in state-owned enterprises, and in less competitive industries. Using a sample of Chinese public companies and hand-collected CEO foreign experience data, we document a positive association between CEO foreign experience and corporate green innovation. We examine whether and how CEO foreign experience affects firm’s green innovation.
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