Abstract
ABSTRACTWhen a firm is accused of serious misconduct, its executives, even those who are nonculpable, are stigmatized by the firm's stakeholders, a phenomenon known ascourtesy stigma. One research stream explores how executives’ social networks mitigate courtesy stigma, with an emphasis on the positive effect of social networks. From the perspective of a social network as an information pipe, we suggest that social networks are a double-edged sword in the context of courtesy stigma because of their distinctiveinsulationandexposuremechanisms. Our proposed hypotheses are supported via event history analysis using data collected from a Chinese sample of listed firms that demonstrated financial misconduct in the period 2007–2016. Our study contributes to the literature on social networks and courtesy stigma by revealing their complex links.
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