title: Network board capital and performance of international companies
metadata.name: dc.contributor.author
metadata.value: Parshakov, Petr A.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Teplykh, Grigorii V.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2023-07-07T19:15:42Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2023-07-07T19:15:42Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2023-06
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Parshakov, P. A. and Teplykh, G. V. (2023) ‘Network board capital and performance of international companies’, St Petersburg University Journal of Economic Studies, 39 (2), pp. 198–216. https://doi.org/10.21638/spbu05.2023.203
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu05.2023.203
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/41734
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: The paper estimates the influence of links between boards of directors on corporate performance
  at the world level in the framework of network analysis. The vast majority of empirical
  papers on the topic analyses the case of isolated countries. The current study estimates the effect
  of networking in large companies at the international level. It enables a more correct construction
  of the network between directors and eliminates the influence of national specificity.
  We construct an international network of boards and calculate three alternative centrality
  metrics: degree, closeness, and betweenness. Then the econometric analysis is applied to estimate
  the effect of centrality on performance. We consider two dependent variables which are
  responsible for the long-term and short-term effects (correspondingly, M/B ratio and ROE).
  The effect of boards’ networking on firm outcomes is found to be positive on average for large
  global companies. This resultis robust to used centrality metrics and financial indicators.The
  influence of networking is found to be similar in the short and long term. We found that
  closeness centrality is the most important aspect of network capital for firm outcomes; degree
  has a moderate impact; the effects of betweenness are the weakest and statistically close to
  insignificant. The study contributes considerably to existing literature summarizing particular
  empirical evidences. Obtained findings also raise new theoretical issues and provide some
  useful practical implications.
metadata.lang: en_GB
metadata.name: dc.description.sponsorship
metadata.value: This paper is an output of a research project implemented as part of the Basic Research Program at
  the HSE University.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: en
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: St Petersburg University Journal of Economic Studies;Volume 39; Issue 2
metadata.lang: -
metadata.name: dc.subject
metadata.value: board of directors
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: network analysis
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: relational capital
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: international companies
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Network board capital and performance of international companies
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 03.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/41734/1/03.pdf
resources.format: Adobe PDF
resources.size: 962 kB