Social Media Network and Stock Price Synchronicity: Evidence from a Chinese Stock Forum

Does Independent Directors’ Interlocking Network Position Affect Green Innovation?

“…IDINP can serve as an important channel for obtaining external information, and this close connection will also shape the willingness of independent directors to provide green information [20]. Therefore, using this "information bridge" [12], companies can gain access to more comprehensive and in-depth green information. Furthermore, a wealth of diverse information enhances the professionalism and independence of central independent directors [7], empowering them to evaluate green innovation projects objectively and comprehensively.…”

“…Data regarding environmental responsibility scores were obtained from this system. Given that the China Stock Market and Accounting Research (CSMAR) database is the largest and most precise financial database in China, following Chen and Nie [8] and Gong et al [12], the necessary background information on independent directors' concurrent positions for IDINP were derived from CSMAR. Additionally, other financial data required for this paper were also extracted from this database.…”

“…In the theoretical analysis and hypotheses, this paper delineated three mechanisms through which IDINP can facilitate corporate green innovation: information advantage, resource advantage, and heightened environmental responsibility. To evaluate these mechanisms, and take into account the broad range of information and resource advantages, as well as environmental responsibilities, this article adopted the approach of Gong et al [12]. According to their perspective, stock price synchronicity reflects the degree of information sharing within Chinese industries.…”

“…Current research on IDINP has largely explored its economic impact on corporate internal governance and business operations, including outcomes of mergers and acquisitions [7], accounting conservatism [11], corporate investment efficiency [8], and stock price synchronicity [12], as well as the reduction in the risk of stock price crashes [13]. Overall, these studies attributed the observed benefits to the informational and resource-related advantages of IDINP.…”