Research Article
Managerial Power and Investment Efficiency in a Social Network Perspective - An Empirical Study Based on Panel Data
@INPROCEEDINGS{10.4108/eai.26-5-2023.2337262, author={Rui Chai and Hua Li}, title={Managerial Power and Investment Efficiency in a Social Network Perspective - An Empirical Study Based on Panel Data}, proceedings={Proceedings of the 4th International Conference on Education, Knowledge and Information Management, ICEKIM 2023, May 26--28, 2023, Nanjing, China}, publisher={EAI}, proceedings_a={ICEKIM}, year={2023}, month={9}, keywords={social networks; managerial power; investment efficiency; board interlock metrology models}, doi={10.4108/eai.26-5-2023.2337262} }- Rui Chai
Hua Li
Year: 2023
Managerial Power and Investment Efficiency in a Social Network Perspective - An Empirical Study Based on Panel Data
ICEKIM
EAI
DOI: 10.4108/eai.26-5-2023.2337262
Abstract
Through the analysis of panel data of Chinese A-share listed companies from 2016-2021 by Stata software, we examine the impact of managerial power on in-vestment efficiency. Based on the perspective of social network relations, we construct the board network centrality by Ucinet software to examine the moderating effect of board interlock on the relationship between managerial power and investment efficiency. The results show that there is positive correlation between managerial power and inefficient investments, and board interlock eases this relationship.
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