吴先铭:中国农业银行杭州新城支行客户服务部,毕业于上海应用技术大学经济与管理学院,硕士。研究方向:企业管理。刘可新:上海应用技术大学经济与管理学院副教授,管理学博士。研究方向:企业并购。翟育明:上海应用技术大学经济与管理学院教授,管理学博士。研究方向:工商管理
F276/F425
现有的CEO特征研究主要聚焦探讨CEO单个特征与企业创新之间的相关性,然而,它没有解决如何从CEO特征的角度预测公司创新的问题。本文通过使用机器学习XGBoost模型,研究了CEO个人背景特征对预测企业创新的相对重要性。基于2009~2016年A股上市公司样本进行研究,结果表明:1)整体而言,CEO个人特征对企业创新投入具有较好的预测能力,而对企业创新绩效的预测能力较弱;2)在CEO的个人背景中,海外背景和学历对企业创新投入的预测能力较强;3)高管的学历对企业创新投入的影响呈现出“非线性”的特点,且CEO的MBA学历教育对企业创新绩效并无实质提升作用。本文的研究结果丰富了“高管特征与企业创新关系”理论,并且对企业管理者的聘任决策有重要的实践指导意义。
Existing research on CEO characteristics mainly focuses on the correlation between CEO single characteristics and enterprise innovation.However,it does not solve the problem of how to predict corporate innovation from the perspective of CEO characteristics.This study investigates the relative importance of CEO personal background characteristics in predicting enterprise innovation by using machine learning modelXGBoost model.Based on the sample of A-share listed companies from 2009 to 2018,the research results show that: 1) on the whole,CEO personal characteristics have good prediction ability for enterprise innovation investment,but weak prediction ability for enterprise innovation performance ; 2) In the CEO personal background,overseas background and educational background have a strong ability to predict the enterprise's innovation investment ; 3) The influence of executive education on enterprise innovation investment shows a "nonlinear" characteristic,and the CEO's MBA education has no substantial effect on enterprise innovation performance.The results of this study enrich the theory of "the relationship between executive characteristics and enterprise innovation",and have important practical significance for the appointment decision of enterprise managers.
吴先铭,刘可新,翟育明. CEO个人特征、创新投入与创新绩效的关系——基于XGBoost树模型的经验证据[J].上海对外经贸大学学报,2023,(1):81-93.
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