Board Networks and Joint Venture Investments

We investigate the impact of director networks on joint ventures investments. Using a sample of UK companies over the period 2000-2018, we find that firms with directors that have stronger networks are more likely to engage in joint ventures. Stronger board networks also have a positive impact on the market reaction to announcements of joint venture investments. Overall, our study provides insights on how joint venture investments could be a channel by which board networks affect firm value