Show simple item record

dc.contributor.authorRossoni, Luciano
dc.contributor.authorAranha, Cezar Eduardo
dc.contributor.authorSilva, Wesley Mendes da
dc.date.accessioned2018-10-25T18:24:11Z
dc.date.available2018-10-25T18:24:11Z
dc.date.issued2018
dc.identifierhttps://www.scopus.com/inward/record.uri?eid=2-s2.0-85019687527&doi=10.1007%2fs10997-017-9382-8&partnerID=40&md5=a28465f15871a7f1b398e044c9c8a415
dc.identifier.issn1385-3457
dc.identifier.urihttp://hdl.handle.net/10438/25508
dc.description.abstractBased on theories of social capital, in this study, we seek to assess the impact of a board’s social capital on the market value of companies listed on the Brazilian stock exchange. As our indicator of social capital, we use the relational resources identified in the direct, indirect and heterogeneous ties of the board. Employing panel data from 508 observations, our results indicate that heterogeneous relational resources have a stronger and more significant influence than the resources available from board members’ direct relationships. Additionally, as the effects of board interlock are endogenously determined by several factors related to the firm level, we seek to mitigate the endogeneity problem using models of instrumental variables and simultaneous equations. Our hypotheses were consistent after controlling for endogeneity. We also check whether the board’s social capital could present a U-inverted effect on the market value. This relationship was only plausible in social capital by indirect ties. Finally, we isolate the effect of relational resources within and between industries on Tobin’s Q. There was no significant effect through interlocks within the same industry. However, ties with companies in several other industries were significant. © 2017, Springer Science+Business Media New York.eng
dc.language.isoeng
dc.publisherSpringer New York LLC
dc.relation.ispartofseriesJournal of Management and Governance
dc.sourceScopus
dc.subjectBoard interlockeng
dc.subjectEndogeneityeng
dc.subjectMarket valueeng
dc.subjectPerformanceeng
dc.subjectSocial capitaleng
dc.subjectSocial networks analysiseng
dc.titleDoes the capital of social capital matter? Relational resources of the board and the performance of Brazilian companieseng
dc.typeArticle (Journal/Review)eng
dc.subject.bibliodataCapital socialpor
dc.contributor.affiliationFGV
dc.identifier.doi10.1007/s10997-017-9382-8
dc.rights.accessRightsrestrictedAccesseng
dc.identifier.scopus2-s2.0-85019687527


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record