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Innovation is not only an important source of enterprise core competitiveness, but also a key element to drive Chinese economic growth and enhance international competitiveness. This study aims to analyze the impact of CEOs' academic experience on innovation performance, moderated by CEO duality in China. This study takes Chinese A-share listed firms in Shanghai and Shenzhen Stock Exchanges from 2009 to 2022 as research samples, which contain 28,565 firm-year observations and are analyzed by fixed effect regression. The results indicate that CEOs' academic experience positively impacts innovation performance supported by resource-based theory. In addition, this study also reveals that CEO duality enhances the positive effect of CEOs' academic experience on innovation performance supported by stewardship theory. This finding suggests that CEOs' academic experience provides an internal and external driving resource for enhancing innovation performance. The combination of CEO and board chair will give more power to conducting innovation. Policymakers should prioritize academic recruitment, and grant decision-making power to academic CEOs to drive innovation in enterprises and research institutes.
Xie et al. (2024) studied this question.