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The Role of Top Management Team in Oversea Location Choice: Evidence from Chinese Firms’ Investments in European Industrial Clusters

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  • Qiong Zhou
  • Yanling Lian
  • Tiancheng Hu

Abstract

This article investigates the role of firm’s top management team (TMT) in its location strategy in oversea investment decision. From the perspective of the upper-echelon theory and knowledge-based view, we study how knowledge-related characteristics of TMTs, such as education background, foreign experience and R&D experience affect the firm’s oversea location choice to invest in an industrial cluster. Using data of OFDI cases from Chinese firms to European sub-national regions from 2006 to 2016, we find that: (1) TMT’s education background has a positive effect on firm’s OFDI decision in industrial clusters; (2) TMT’s foreign experience has a positive effect on firm’s OFDI decision in industrial clusters; (3) TMT’s R&D background increases the firm’s likelihood to invest in industrial clusters. Our findings provide implications related to the effects of TMT characteristics on emerging market firms’ oversea investment activities.

Suggested Citation

  • Qiong Zhou & Yanling Lian & Tiancheng Hu, 2022. "The Role of Top Management Team in Oversea Location Choice: Evidence from Chinese Firms’ Investments in European Industrial Clusters," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 58(6), pages 1677-1687, May.
    • Handle: RePEc:mes:emfitr:v:58:y:2022:i:6:p:1677-1687
    DOI: 10.1080/1540496X.2021.1920392
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