Directors’ Network Position， Social Trust and Corporate Risk-taking

doi:10.12068/j.issn.1005-3026.2023.07.019

Abstract

Abstract: The social network analysis technology is used， and the data of A-share listed companies in Shanghai and Shenzhen stock markets from 2007 to 2019 are selected to test the impact of directors’ network position on corporate risk-taking and the moderating effect of social trust on the relationship between them. It is found that directors’ network position is significantly positively correlated with corporate risk-taking， and social trust strengthens the promoting role of directors’ network position on corporate risk-taking. Further tests find that under different social trust levels， directors’ network position can promote the risk-taking of state-owned and non-state-owned enterprises， but the moderating effect of social trust only exists in non-state-owned enterprises. Regardless of the degree of industrial competition， directors’ network position can promote corporate risk-taking， but social trust only plays a moderating effect when the degree of industrial competition is high.

Key words: directors’ network position; corporate risk-taking; social trust， nature of property rights， degree of industrial competition

CLC Number:

F275

WU Li， WANG Di， YUAN Zhi-zhu. Directors’ Network Position， Social Trust and Corporate Risk-taking[J]. Journal of Northeastern University(Natural Science), 2023, 44(7): 1057-1064.

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