Independent director network and corporate innovation: evidence from a natural experiment in China

Yihan Wu and Bin Dong

Applied Economics Letters, 2021, vol. 28, issue 7, 559-564

Abstract: This paper empirically investigates the relationship between independent directors’ connectedness and corporate innovation in China. We utilize a novel natural experiment initiated by an anti-corruption campaign to find that independent directors’ centrality in the board network has a significant positive effect upon corporate patenting. Further evidence suggests that the influence on corporate innovation is induced by information transmission in the board network.

Date: 2021
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DOI: 10.1080/13504851.2020.1764475

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