An Empirical Analysis of Executives’ Overseas Background on Corporate Performance-Based on China’s Listed Real Estate Companies

More and more Chinese students who studied or worked overseas have chosen to return to China. Their role in different industries and the motherland’s economy has promoted the growing attention from scholars and the government. Many elite “sea turtles” with the overseas knowledge and vision have become the senior management team of the enterprise after they returned to China. Their overseas experience and strategic decision play a decisive role in the development of enterprise. Researchers have little knowledge about how these executives with overseas experiences contributed to the enterprise value. This paper selects the data of China’s real estate listed companies from 2015 to 2017, and uses the overseas study background of executives and the overseas work background of executives as explanatory variables to explore the impact of overseas background executives on long-term performance and short-term performance. The research results show that the overseas experiences from these executives have a negative impact on the short-term performance of the companies and have a positive impact on the long-term performance of the companies. The impact of overseas study background on the short-term performance of the enterprises is not significant, and has a positive effect on the long-term performance impact of the enterprises.