Director's network location and corporate environmental investment in the carbon neutrality age
研究中国上市公司董事网络位置对企业环境投资的影响，发现董事网络通过缓解融资约束促进环境投资，进而提升企业价值，对政策制定者、管理者和投资者有参考价值。
Abstract Although carbon neutrality is a global aim, the potential drivers and influence mechanisms of corporate governance communities are unclear. This study examines the impact of director's network location on corporate environmental investment (CEI) and explores potential channels for CEI performance changes. Using a sample of 495 listed firms in China from 2015 to 2019, we construct a director‐based network using contacts of independent company directors. Results indicate that director's network location has positive economic impacts on CEI performance and that financing constraints are an important mechanism of director's networks affecting CEI. Director's networks positively affect corporate performance by improving CEI. Results are robust to endogeneity concerns and contribute to the CEI literature by showing a positive effect between director's network and CEI, as well as between director's network and enterprise value. This paves the way for policymakers, managers, and investors to understand the influence of director's network on CEI performance.