Research on the Impact of Returnee Executives' Strategic CSR Orientation on Corporate Value

Abstract

An increasing number of studies have focused on the impact of the increase in the proportion of overseas returnees in enterprise management. How do executives with an overseas background affect corporate value? Based on Upper Echelons Theory, this paper studies the influence of overseas returnees on enterprise value from the perspective of strategic corporate social responsibility. Based on the sample composed of companies listed in Shanghai and Shenzhen stock exchange, the research shows that executives from overseas through strengthening strategic corporate social responsibility, make the enterprise social responsibility incorporated into the development of business strategy, finally promoting the ascension of the enterprise value. Namely, the strategic corporate social responsibility orientation plays an intermediary role between executives from overseas and enterprise value. This study further correlates the characteristics of overseas returnees with the strategic decisions of enterprises, deepens the understanding of the realization mechanism of overseas executives' promotion of corporate value, enriches the research results of factors influencing corporate social responsibility, to improve the active construction of local enterprises' social responsibility by changing the structure of the executive.