关键词: 高管团队的国际化视野,企业社会责任履行,公司价值,公司治理

Abstract: The internationalization of top management teams (TMT) has become a hot issue in corporate governance. To discuss the impact of internationalization of TMT on the implementation of corporate social responsibilities and corporate value can further understand the governance capabilities of an internationalized top management team. Through hand collection of the data on the internalization version of the TMT of China’s listed companies during the period of 2008-2014, this paper empirically examines the impact of the internationalized vision of TMT on the CSR implementation and corporate value. The findings show that the international vision of TMT has contributed significantly to the fulfillment of CSR and enhanced the corporate value. The implementation of CSR is at least an intermediary channel between the international vision of the TMT and the corporate value. After a series of sensitivity tests, the above-mentioned conclusions are still valid. This result shows that international vision of TMT has a strong governance effect.

Key words: the international vision of TMT; implementation of CSR; corporate value；corporate governance