| Summary: | How to rationally allocate scarce resources such as CEOs in the global professional manager market is a hot topic of common concern in the theoretical and practical fields. Compared with “professional talents”, “compound talents” meet the requirements of enterprises for the overall quality of managers, and have a positive impact on corporate investment, decision-making, and risk-taking. This dissertation uses the 2008-2015 Shanghai and Shenzhen A-share manufacturing listed companies as a sample, manually collected a unique data set of CEO multi-dimensional career history, and construct CEO career experience richness index from five dimensions of functional departments, companies, industries, organizations and geographical types. Then this paper uses quantitative research methods to systematically investigate the objective performance, impact types, and mediation of the CEO career experience affecting organizational performance under the background of Chinese system.
The research findings show that the richer the CEO professional experience, the higher the organizational performance, and cross-functional, cross-regional and cross-industry career experiences have more significant effect on organizational performance. In terms of influence paths, the mediation effect test is used to verify that the CEO rich career experience can promote the corporate risk-taking, thereby enhancing the enterprise's value creation ability and improving organizational performance. This paper expands the literature research in the field of organizational performance influencing factors from the micro-level of manager's compound career experience, which has important guiding significance for improving the manager structure and selection mechanism of listed companies, further regulating the corporate governance system and enhancing corporate value.
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