Analysis of CEOs with Overseas Backgrounds on Easing Corporate Financing Constraints

Can Yao

doi:10.54691/bcpbm.v15i.257

Authors

Can Yao

DOI:

https://doi.org/10.54691/bcpbm.v15i.257

Keywords:

Financing Constraints; CEO's Overseas Background; Nature of Property Rights; Two Jobs in One.

Abstract

This paper uses China's A-share listed companies in Shanghai and Shenzhen stock exchanges from 2008 to 2018 as a sample to explore the relationship between the CEO's overseas background and corporate financing constraints. The empirical results show that the CEO's overseas background has a significant impact on corporate financing constraints. Further research results show that the CEO of a state-owned enterprise can significantly alleviate the level of corporate financing constraints under the conditions of an overseas background, while the CEO's non-concurrent directorship can strengthen the impact of the CEO's overseas background on corporate financing constraints.

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