Research on the Impact of Board Stability on Corporate Internationalization: Evidence from China

Abstract

In the context of economic globalization, internationalization strategies serve as a critical pathway for enterprises to enhance competitiveness. Board stability reflects the internal resilience of the board of directors and the continuity of corporate strategic orientation, exerting a significant influence on corporate internationalization. This study empirically examines the impact of board stability on the degree of corporate internationalization using a sample of Chinese A-share listed companies from 2015 to 2023. The results indicate that board stability significantly improves the degree of corporate internationalization. Further analysis reveals that this positive effect is pronounced only in firms where the board lacks overseas experience and in those located in eastern regions of China. The findings clarify the role of board stability in the dynamic process of corporate internationalization and provide practical insights for optimizing multinational operations and management.