Interlocking Director Network and Green Innovation in Japan

Dai, Xiayan

doi:10.51094/jxiv.976

##article.authors##

Dai, Xiayan Waseda University, Graduate School of Commerce, doctoral course

DOI:

https://doi.org/10.51094/jxiv.976

キーワード:

Interlocking Director、 Board Capital、 Network Position、 Green Innovation

抄録

This study integrates resource dependence theory and social network theory to explore how two key interlocking network positions—central network position and structural holes—drive corporate green innovation. Using empirical data from listed manufacturing firms in Japan between 2013 and 2019, a country renowned for its environmental leadership, the analysis reveals that both central network positions and structural holes significantly enhance the development of green technologies. Furthermore, absorptive capacity and connectivity with industry leaders are identified as moderating factors influencing the relationship between these network positions and green innovation. Distinct from prior research, this study highlights the pivotal role of network positions in fostering corporate green innovation. The insights provided are valuable for executives looking to enhance their firms' green innovation performance and for policymakers committed to advancing eco-innovation.

利益相反に関する開示

The author declares no conflicts of interest in relation to the work.

ダウンロード *前日までの集計結果を表示します

ダウンロード実績データは、公開の翌日以降に作成されます。

引用文献

Ahuja, G. (2000). Collaboration Networks, Structural Holes, and Innovation: A Longitudinal Study. Administrative Science Quarterly, 45(3), 425-455. https://doi.org/10.5465/apbpp.1998.27664401

Barbieri, N., Marzucchi, A. & Rizzo, U. (2020). Knowledge sources and impacts on subsequent inventions: Do green technologies differ from non-green ones, Research Policy, 49(2), 103901. https://doi.org/10.1016/j.respol.2019.103901

Barka, H. B., & Dardour, A. (2015). Investigating the relationship between director's profile, board interlocks and corporate social responsibility, Management Decision, 53(3), 553–570. https://doi.org/10.1108/MD-12-2013-0655

Ben Arfi, W., Hikkerova, L. & Sahut, J.-M. (2018). External knowledge sources, green innovation and performance, Technol. Forecasting Social, 129, 210–220. https://doi.org/10.1016/j.techfore.2017.09.017

Burt, R. S. (2000). The network structure of social capital, Research in Organizational Behavior, 22, 345-423. https://doi.org/10.1016/S0191-3085(00)22009-1

Burt, R. S. (2004). ‘Structural Holes and Good Ideas’, American Journal of Sociology, 110(2), 349-399. https://doi.org/10.1086/421787

Cohen, W. M. & Levinthal, D. A. (1990). Absorptive capacity: A new perspective on learning and innovation, Administrative Science Quarterly, 35(1), 128-152. https://doi.org/10.2307/2393553

Driessen, P. & Hillebrand, B. (2002). Adoption and diffusion of green innovations, In: Nelissen, W. & Bartels, M. Marketing for Sustainability: Towards Transactional Policy-Making．Amsterdam: Ios Press, 343-356．

Hackbarth, D. & Mauer, C.D. (2012). Optimal Priority Structure, Capital Structure, and Investment, The Review of Financial Studies, 25(3), 747-796. https://doi.org/10.1093/rfs/hhr129

Hahl, O., Kacperczyk, A. “Olenka”, & Davis, J. P. (2016). Knowledge asymmetry and brokerage: Linking network perception to position in structural holes. Strategic Organization, 14(2), 118-143. https://doi.org/10.1177/1476127015624274

Haunschild, P. R. & Beckman, C. M. (1998). When Do Interlocks Matter? Alternate Sources of Information and Interlock Influence, Administrative Science Quarterly, 43(4), 815–844. https://doi.org/10.2307/2393617

Haunschild, P. R. (1993). Interorganizational imitation: The impact of interlocks on corporate acquisition activity, Administrative Science Quarterly, 38(4), 564–592. https://doi.org/10.2307/2393337

Howard, M. D., Withers, M. C., & Tihanyi, L. (2017). Knowledge Dependence and The Formation of Director Interlocks, Academy of Management Journal, 60(5), 1986–2013. https://doi.org/10.5465/amj.2015.0499

Jaffe, A.B. & Palmer, K. (1997). Environmental regulation and innovation: a panel data study, The Review of Economics and Statistics, 79(4), 610－619. https://doi.org/10.1162/003465397557196

Kim, I., Pantzalis, C., & Zhang, Z. (2021) Multinationality and the Value of Green Innovation, Journal of Corporate Finance, 69(1), pp. 1-23. https://doi.org/10.1016/j.jcorpfin.2021.101996

Kimura, Y. (2023). Green Transformation Innovation, RIETI Discussion Paper Series 23-E-086

Koka, B. R., & Prescott, J. E. (2008). Designing Alliance Networks: The Influence of Network Position, Environmental Change, and Strategy on Firm Performance, Strategic Management Journal, 29(6), 639–661. https://doi.org/10.1002/smj.679

Larcker, D.F., So, E.C. & Wang, C.C.Y. (2010). Boardroom Centrality and Stock Returns, Working Paper. Stanford University.

Lu, J., Mahmoudian, F., Yu, D., Nazari, J. A., & Herremans, I. M. (2021). Board interlocks, absorptive capacity, and environmental performance, Business Strategy and the Environment, 30(8), 3425–3443. https://doi.org/10.1002/bse.2811

McEvily, B., & Zaheer, A. (1999). Bridging ties: A source of firm heterogeneity in competitive capabilities, Strategic management journal, 20(12), 1133-1156. https://doi.org/10.1002/(SICI)1097-0266(199912)20:12<1133::AID-SMJ74>3.0.CO;2-7

McFadyen M. A. & Cannella, A. A. (2004). Social capital and knowledge creation: Diminishing returns of the number and strength of exchange relationships, Acad. Manage. J., 47(5), 735–746. https://doi.org/10.5465/20159615

Mizruchi, M.S. (1996). What Do Interlocks Do? An Analysis, Critique, and Assessment of Research on Interlocking Directorates, Annual Review of Sociology, 22, 271-298. https://doi.org/10.1146/annurev.soc.22.1.271

Ortiz-de-Mandojana, N., & Aragon-Correa, J. A. (2015). ‘Boards and sustainability: The contingent influence of director interlocks on corporate environmental performance’, Business Strategy and the Environment, 24(6), 499–517. https://doi.org/10.1002/bse.1833

Pfeffer, J. & Salancik, G. (1978). The External Control of Organizations: A Resource Dependence Perspective. New York, NY, USA: Harper & Row.

Putnam, R. (1993). The prosperous community: Social capital and public life, The American Prospect, 13(Spring), Vol. 4.

Reagans, R., & McEvily, B. (2003). Network structure and knowledge transfer: The effects of cohesion and range, Administrative Science Quarterly, 48(2), 240-267. https://doi.org/10.2307/3556658

Shropshire, C. (2010). The role of the interlocking director and board receptivity in the diffusion of practices, Academy of Management Review, 35(2), 246–264. https://doi.org/10.5465/AMR.2010.48463333

Smith-Doerr, L., & Powell, W. W. (2010). Networks and Economic Life. In The Handbook of Economic Sociology (STU-Student edition, pp. 379–402). Princeton University Press. https://doi.org/10.1515/9781400835584.379

Tsai, W. (2001). Knowledge Transfer in Intraorganizational Networks: Effects of Network Position and Absorptive Capacity on Business Unit Innovation and Performance, Academy of Management Journal, 44(5), 996–1004. https://doi.org/10.5465/3069443

Wang, R., Gupta, A. & Grewal, R. (2017). Mobility of Top Marketing and Sales Executives in Business-to-Business Markets: A Social Network Perspective, Journal of Marketing Research, 54(4), 650-670. https://doi.org/10.1509/jmr.14.0124

Zang, J. (2018). Structural holes, exploratory innovation and exploitative innovation, Management Decision, 56(8), 1682-1695. https://doi.org/10.1108/MD-05-2017-0485