Dr. Qiong Zhou and her co-workers’ paper, titled” The Role of Top Management Team in Overseas Location Choice: Evidence from Chinese Firms’ Investments in European Industrial Clusters”, has been accepted by for recent publication by SSCI journal Emerging Markets Finance and Trade. Based on the Upper Echelons Theory, this paper studies how a top management team influences an enterprises' choice of industrial clusters overseas for direct investment. The study focuses on the characteristic features of a management team including educational background, experience overseas and research and development experience, etc. By an empirical analysis of the statistics of China’s outward direct investment from 2006 to 2016, the paper has had findings as follows: (1)The educational background of the TMT (top management team) has a positive impact on the company's choice of overseas industrial clusters for direct investment; (2) The overseas background of the TMT has a positive impact on the company's choice of overseas industrial clusters for direct investment; (3) The R&D background of the TMT has a positive impact on the company's choice of overseas industrial clusters for direct investment.
Translated by:
Shen Jianmin
Tu Weicheng
Cheng Renhao
Liu Guanzhang
Chen Xi
