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...

Are the professional networks of corporate directors valuable? More connected directors may have better information and more influence, which can increase firm value. However, these directors may also be busy or spread value-decreasing practices. To separate the effect of director networks on...

Corporate directors earn abnormal returns when they buy their own company's stock as insiders. Directors also outperform when they buy stocks with an interlock connection, where a co-board member is an insider. Directors do not consistently earn abnormal returns when they sell these connected...

This paper analyzes the labor market (turnover and appointments) of executive and non-executive directors by means of social network methodology. We find that directors with strong networks are able to obtain labor market information that enables them to leave their firm more easily for better...