This paper investigates whether the social capital of outside directors has an impact on firm performance and value, using a sample of 480 outside directors from 125 large publicly traded Korean companies. In order to measure social capital, we map out the social networks of outside directors on...

CEO's insider trading gains are affected by the position of the CEO within the hierarchy of all executives, as assessed by network centrality. CEOs with high centrality earn superior abnormal returns following their company's stock purchases, consistent with social capital advantage. Social...