Executives’ overseas experience, as a key factor infl uencing corporate investment decisions and risktaking, has become a prominent topic in international economics. Using a manually matched micro-level dataset on outward foreign direct investment (OFDI) and executive backgrounds, this study examines Chinese nonfi nancial A-share listed fi rms from 2008 to 2021 to investigate the impact and mechanisms of OFDI on corporate risk-taking, as well as the moderating role of executives’ foreign experience. The results show that: (1) OFDI signifi cantly increases fi rms’ risk-taking, while foreign-experienced executives signifi cantly weaken this eff ect. (2) The impact of OFDI varies by host country development level, fi rm ownership, and market competition. (3) Multidimensional heterogeneity analysis reveals the mechanisms through which OFDI influences risktaking and clarifi es the contextual boundaries of executive moderation. This study enriches the literature on international investment and corporate risk, off ering managerial insights for fi rms navigating globalization.