The Triad that Binds: How the Social Structure of Analyst and Journalist Performance Evaluations Influences Relations among Corporate Leaders and Their Strategic Decision Making.

TL;DRAbstract

This dissertation develops a social structural perspective on multiple social ties among corporate leaders and external firm constituents to examine how the triadic structural embeddedness of corporate leader-constituent relationships can influence relations among corporate leaders themselves and their strategic decision making. I first examine how relations among corporate leaders indicated by board interlock ties are affected by their common network ties to a group of financial analysts who are simultaneously following the board interlock companies (Chapter 2). In particular, I explore whether similarities in stock recommendations from the common analysts influence the maintenance of board interlock ties as result of top executives’ concerns about social comparison or cognitive dissonance in a triad. I then address how ties between two different constituent groups of analysts and journalists can constrain corporate leaders with respect to their strategic decision making (Chapter 3).

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