Corporate Social Network and Enterprise R&D Innovation

Corporate social networks facilitate the dissemination and sharing of information and resources between enterprises, and information and resources are important factors in the company's innovative behavior. Therefore, this paper attempts to explore the impact of corporate social networks on the innovation behavior of listed companies in China from the perspective of corporate social networks. Further, by dividing the corporate social network composed of directors, supervisors and senior executives, this paper explores the emphasis of information of different members of listed companies on innovation activities.The empirical results show that with the increase of the network of all directors, supervisors and senior executives, the investment in innovation of listed companies will increase. By dividing the network of different members of the company, this study finds that different members have different focuses on different aspects of innovation behavior: The increase in the social network of directors and executives will significantly boost the R&D intensity of listed companies; The social network of independent directors and supervisors has no significant impact on the company's innovative behavior.The research in this paper not only proves that the social network of an enterprise will change the innovation behavior of an enterprise, but also, for the first time, through the division of the social network of an enterprise, empirically proves that different members of the company have different emphasis on their innovation activities. With the expansion of directors, supervisors and senior managers' social networks, listed companies will reduce innovation investment and innovative activities will be more conservative in uncertain environments, the social network of executives will significantly inhibit the risk preference of listed companies, while the social networks composed of other members have no significant impact on innovation risk preference.