中文摘要：

本文以中国上市公司为研究对象,以高管团队和代理理论为理论依据,探讨了上市公司国际化倾向的影响因素。本文认为CEO的认知、价值观和个人经验会影响到公司战略的制定;与此同时,公司的治理结构也会影响到CEO的风险偏好。实证结果表明,那些国际化经验丰富、受教育程度相对较低的CEO更倾向于采取国际化战略;其次,随着外部董事比例的增加,CEO更愿意承担风险,实施国际化战略。本文的研究结果对企业如何有效制定和实施国际化战略具有一定的指导意义。

英文摘要：

This study applies the upper echelon and agency theories to explore the determinants of Chinese listed companies’ internationalization.It argues that CEO’s cognition,values and personal experience will influence firm strategic decision making;at the same time,the corporate governance structure will also affect CEO’s risk preferences.The empirical findings indicate that internationalization is positively related to CEO international experiences and negatively related to CEO education background.Furthermore,there is a positive relationship between outside directors and firm internationalization.