Board Interlock Networks and Corporate Low-Carbon Innovation in China: Does Position Matter?
研究中国上市公司在董事会连锁网络中的位置（中心位置与结构洞位置）如何通过信息不对称和知识吸收能力影响企业低碳创新，对管理者和政策制定者有参考价值。
Through combining the resource dependence theory and social network theory, this study sheds light on how two major kinds of interlocking network positions—central network position and structural holes position—drive corporate low-carbon innovation. We consider the mediating effect of information asymmetry and knowledge absorptive capacity to reap benefits from occupying the two advantageous network positions. We have empirically investigated a sample of 3365 listed firms over the period of 2009–2018 drawn from China, the largest emerging market economy as well as the biggest carbon dioxide emitter. Our main results show that either holding a central network position or spanning a structural holes position plays a significant role in stimulating low-carbon technologies, and the promotion effect can be partially channeled through downward information asymmetry and upward knowledge absorptive capacity. Our findings differ from earlier work because of our emphasis on network position, and our specific focus on corporate low-carbon innovation and China's unique setting, rather than network size, greenhouse gas emissions, and developed economies. This study also provides significant implications for executives striving to improve firms’ low-carbon innovation performance, and for policymakers seeking ways to fulfill the mission of carbon dioxide abatement.