CEO network centrality and corporate social responsibility

Bouchet, Adrien; Song, Xuehu; Sun, Li

doi:10.1108/srj-04-2020-0147

Cited by 7 publications

(6 citation statements)

References 63 publications

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“…The findings strengthen existing literature stating that CEOs' social network deteriorates firms' performance (Burt et al ., 2021; Jang et al ., 2019). The results also support studies exploring adverse outcomes of CEOs' social networks with corporate social responsibilities (Bouchet et al ., 2022; Chahine et al ., 2019).…”

Section: Findings and Analysissupporting

confidence: 84%

“…(Burt et al, 2021;Jang et al, 2019). The results also support studies exploring adverse outcomes of CEOs' social networks with corporate social responsibilities (Bouchet et al, 2022;Chahine et al, 2019). Social networks influence decision-making (Collins et al, 2018).…”

Section: Capital Structure Complexitysupporting

confidence: 71%

“…CEOs with more extensive social networks are shown to use CSR for entrenchment. Bouchet et al (2022) investigated CEOs' social networks and CSR and documented a negative association between CEOs' social networks and CSR concerns. CEOs with more extensive social networks are shown to mitigate CSR concerns better.…”

Section: Introductionmentioning

confidence: 99%

“…Although research integrating social network theory and corporate policies such as capital structure decisions is limited yet, existing literature provides evidence of a positive relationship between a social network with firm performance (Fang et al ., 2012; Kirchmaier et al ., 2008), corporate social responsibility (Bouchet et al ., 2022) and CEO compensation (Brown et al ., 2012). In contrast, few studies report a negative relationship between a social network with safer investments (Fan et al ., 2021), corporate cash holding (Miranda-Lopez et al ., 2019) and reporting financial fraud (Chahine et al ., 2021).…”

Section: Introductionmentioning

confidence: 99%

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CEO social network, capital structure complexity and firm performance

Mundi

2023

RBF

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PurposeThe paper aims to examine the effect of CEOs' social networks on capital structure complexity (CSC) and firm performance.Design/methodology/approachOrdinary Least Squares regression (OLS) and Generalized method of moments (GMM) regression results estimate the effect of CEOs' (Chief executive officer) social networks on capital structure complexity and firm performance. The number of sources of capital (NSC) and concentration ratio estimate the capital structure complexity for the sample firms.FindingsThe results show that CEOs' social networks significantly influence CSC. We suggest that the CEOs' social networks encourage them to make more complex capital structure decisions. This behavior deteriorates firm performance.Research limitations/implicationsThere is a lack of systematic conceptual reason for measuring CEO social network. Future research should use other measures of the social network to estimate the relation of the CEO's social network with CSC and firm performance.Practical implicationsThe findings support the managerial power approach and social network theory that the observable characteristics of CEOs influence CSC. The results are robust for an alternative explanation.Originality/valueBy investigating the impact of the influence of CEOs' social networks on CSC and performance, the authors extend research on strategic leadership and capital structure and firm performance.

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Section: Findings and Analysissupporting

confidence: 84%

Section: Capital Structure Complexitysupporting

confidence: 71%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

CEO social network, capital structure complexity and firm performance

Mundi

2023

RBF

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“…Using a sample of US firms, the researchers found that firms' CSR performance was significantly higher in the early tenure of the CEO than in the later tenure (Chen et al, 2019). In addition, CEOs' social ties can better mitigate CSR problems or weaknesses, which improves the firm's overall CSR performance (Bouchet et al, 2022). CEOs tend to overinvest in CSR to obtain additional compensation (Hsu, 2023).…”

Section: Literature Analysis and Hypothesesmentioning

confidence: 99%

CEOs' digital technology backgrounds and enterprise digital transformation: The mediating effect of R&D investment and corporate social responsibility

Zhu,

Li,

et al. 2023

Corp Soc Responsibility Env

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Enterprise digital transformation (EDT) is becoming an essential strategy for business growth owing to the rapid iterative invention of digital technologies. Based on imprinting theory, we examined the effects of chief executive officers' (CEOs') digital technology backgrounds (DTBs) on EDT using data on Chinese listed companies from 2010 to 2020. We found that (1) CEOs with digital technology‐related learning or career experience can drive EDT to a higher degree. (2) Research and development (R&D) investment and corporate social responsibility (CSR) are significant variables that influence the digital transformation of CEOs' digital technology. Both partially mediate CEOs' DTBs, driving digital transformation by increasing R&D investment and enhancing CSR. (3) CEOs' DTBs significantly promote digital transformation in state‐owned, high‐tech, and digital economy enterprises. By promoting digital transformation, CEOs' DTBs substantially increased their sustainable development.

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Economic policy uncertainty and environmental, social and governance (ESG) disclosure: the moderating effects of board network centrality and political connections

Harjoto,

Wang

2024

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Purpose This study aims to examine the relationship between economic policy uncertainty (EPU) and environmental, social and governance (ESG) disclosure and the moderating role of board network centrality and political connections on the nexus between EPU and ESG. Design/methodology/approach Using a sample of the UK Financial Times Stock Exchange (FTSE) 350 firms during 2007 to 2018, this study examines the relationship between EPU and the ESG disclosure and the moderating effects of board centrality and board political connections using multivariate regression analysis. Findings The results show that firms tend to increase their ESG disclosure when EPU rises. The results also reveal that EPU is negatively associated with firms’ financial performance and ESG performance is less evident for firms with higher ESG disclosure scores and is observed only when board centrality is relatively low and the political connections are absent. The study finds further evidence to support the hypotheses during periods of heightened conflicts (i.e. global financial crisis and the Brexit referendum). Practical implications This study offers practical insights for corporate managers who attempt to preserve and enhance their firms’ competitive advantages via maintaining its stakeholders support through greater ESG disclosure during heightened EPU periods. Originality/value By integrating the resource-based view (RBV) and the signaling theory, this study extends the signaling theory and RBV by examining the relationship between EPU and ESG disclosure as a signal to its stakeholders and information advantages that board centrality and political connections bring to the company to reduce information asymmetry between the firms and its stakeholders during EPU.

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CEO network centrality and corporate social responsibility

Cited by 7 publications

References 63 publications

CEO social network, capital structure complexity and firm performance

CEO social network, capital structure complexity and firm performance

CEOs' digital technology backgrounds and enterprise digital transformation: The mediating effect of R&D investment and corporate social responsibility

Economic policy uncertainty and environmental, social and governance (ESG) disclosure: the moderating effects of board network centrality and political connections

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