Between legitimacy and nonconformity costs: The influence of board interlocks on CSR performance
Jianan Li
What the paper says
This study examines how board interlocks influence firms’ CSR performance in China through a legitimacy-nonconformity cost framework. It aims to explain CSR heterogeneity by analyzing network positions (centrality/structural holes) and network pluralism (central/local government connections) as contingencies. Results indicate that board interlocks enhance CSR performance, with central network positions or central connections strengthening firm responses due to higher nonconformity costs, while local connections weaken this effect. By integrating social cost mechanisms with legitimacy perspectives, this study advances institutional theory in explaining CSR performance heterogeneity and offers novel insights into how board interlocks shape non-market strategies in emerging markets.
Evidence weight
Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40
| F · citation impact | 0.50 × 0.4 = 0.20 |
| M · momentum | 0.50 × 0.15 = 0.07 |
| V · venue signal | 0.50 × 0.05 = 0.03 |
| R · text relevance † | 0.50 × 0.4 = 0.20 |
† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.