How does board interlock network matter for sustainability? A social learning approach to corporate environmental performance

Yi Zhao and Jegoo Lee

Business Strategy and the Environment, 2023, vol. 32, issue 8, 5889-5908

Abstract: The study proposes a social learning perspective for corporate environmental performance (CEP), drawing on the social network approach. We examine how a firm's board interlock connections affect its CEP through direct and indirect social learning processes. Moreover, we argue that a firm's board interlock ties to other well‐connected firms amplify the effects of social learning on CEP. Empirical analyses with a unique dataset of the S&P 1500 firms support our hypotheses. This research clarifies the network mechanisms underlying the firms' social learning on environmental performance. We also provide practical implications about boards as a reservoir for firms' learning of environmentally beneficial activities in inter‐corporate networks.

Date: 2023
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