Abstract:

Based on the "imprinting theory", it is believed that the "cognitive imprint" formed by people during the "sensitive period" will have a lasting impact on their subsequent careers. Banking and other financial industries are typical industries of high risks, high returns, and more temptations. The banking experience of senior executives constitutes an "environment-sensitive period", which affects their decisions. The relationship between executives' backgrounds and innovation has always been a hot topic in the field of corporate finance. But at present, there is relatively little research about executives’ banking backgrounds. Moreover, with the deepening of globalization, companies in China are facing severe competition and China's economy has changed from high-speed growth to high-quality development. However, the information asymmetry and the high risk of R&D investment make it difficult for companies to obtain sufficient R&D funds from banks. Under the background of insufficient development of the capital market, the combination of industry and finance formed by the mutual participation of financial institutions and entity companies is of great significance to promote the technological innovation of entity companies and the upgrading of industrial technology.